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0 pointspx434y ago0 comments

Sending money over the internet.

If you don't understand why that's an critical utility for billions of people on this planet, then you're not worth arguing with.

0 comments

mcphage4y ago

> Sending money over the internet.

> If you don't understand why that's an critical utility for billions of people on this planet, then you're not worth arguing with.

Are you aware that there are other ways to send money over the internet than Bitcoin?

AnimalMuppet4y ago

Is bitcoin really going to enable billions of people to send money over the internet? Or is it going to enable a very few people to send money over the internet?

This isn't a question about whether people want to use it. The question is, does bitcoin scale to that many users?

thehappypm4y ago

Crypto is one tool for sending money over the internet, but it's hardly the only one, and it's far from the best. Most transaction utilities don't have potential for your transfer to lose 30% overnight.

px43OP4y ago

Have you invented a magical currency that always retains its value? If so you should probabally let the world know.

thehappypm4y ago

I use the wonderfully stable US dollar.

1 more reply

grumple4y ago

Sending money over the internet is faster and safer using methods that existed before bitcoin (sending via banks / paypal / venmo / cashapp / etc). Crypto does not enable this.

px43OP4y ago

None of those services actually let you send money over the internet. All of them are custodial. You give them your money, they hold onto it, and when they feel like it, they might let you interact with other users within their closed ecosystems.

grumple4y ago

That is a distinction without a difference and a nonsensical one at that. I have money in my bank account and it goes to someone else’s bank account.

The same is true for Bitcoin anyway - you have to use exchanges to get money in/out and you are completely dependent on strangers to process your transactions, and they cost far more. Sure you can have your own wallet but it’s entirely useless until you interact with an exchange and the network.

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mcphage4y ago

> Sending money over the internet.

> If you don't understand why that's an critical utility for billions of people on this planet, then you're not worth arguing with.

Are you aware that there are other ways to send money over the internet than Bitcoin?

AnimalMuppet4y ago

Is bitcoin really going to enable billions of people to send money over the internet? Or is it going to enable a very few people to send money over the internet?

This isn't a question about whether people want to use it. The question is, does bitcoin scale to that many users?

thehappypm4y ago

px43OP4y ago

Have you invented a magical currency that always retains its value? If so you should probabally let the world know.

thehappypm4y ago

I use the wonderfully stable US dollar.

1 more reply

grumple4y ago

Sending money over the internet is faster and safer using methods that existed before bitcoin (sending via banks / paypal / venmo / cashapp / etc). Crypto does not enable this.

px43OP4y ago

grumple4y ago

That is a distinction without a difference and a nonsensical one at that. I have money in my bank account and it goes to someone else’s bank account.

1 more reply

j / k navigate · click thread line to collapse