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0 pointsGuzba5y ago0 comments

This conversation never goes anywhere because it's apples and oranges. VISA connects other intermediaries. It isn't actually transferring money, its basically getting two parties to agree to a transfer with a huge pile of terms and fees. It's just not the same thing.

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rspeele5y ago

I mean, you could just as well say Bitcoin isn't actually transferring money, it's just changing whose private keys are able to move a token around. If you define "money" as something you can pay your rent, taxes, and grocery expenses with, Coinbase and the exchanges are the ones that really settle that into money.

GuzbaOP5y ago

Do you believe that distinction is on the same scale as the distinction I pointed out between comparing VISA and Bitcoin? Nothing is completely black and white, but I believe your distinction is into the pedantic territory whereas the other is fundamental. One can certainly pay for goods and services directly with Bitcoin.

rspeele5y ago

I mean, we're never going to get a 1:1 comparison, but I'll put it this way: Visa's not-quite-really transferring money is a whole lot more useful than Bitcoin's not-quite-really transferring money.

And I'm sure that Visa + banks for settlement are still using a lot less energy than Bitcoin if you normalize it to transaction volume. Even if you only count the settlements as "real" transactions.

GuzbaOP5y ago

Sure, I agree with this.

I'm personally mixed on crypto but strongly dislike the glossing-over of its various fundamental properties by people taking intense absolute positions about what free people should be able to do. That can get me shaking my fist at the internet, though now I mostly realize these opinions are as irrelevant as mine is, and this is good.

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6274675y ago

Yes, but it's so easy to bring up as an argument...

j / k navigate · click thread line to collapse

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rspeele5y ago

GuzbaOP5y ago

rspeele5y ago

I mean, we're never going to get a 1:1 comparison, but I'll put it this way: Visa's not-quite-really transferring money is a whole lot more useful than Bitcoin's not-quite-really transferring money.

And I'm sure that Visa + banks for settlement are still using a lot less energy than Bitcoin if you normalize it to transaction volume. Even if you only count the settlements as "real" transactions.

GuzbaOP5y ago

Sure, I agree with this.

1 more reply

6274675y ago

Yes, but it's so easy to bring up as an argument...

j / k navigate · click thread line to collapse