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1 and 2 are solved by a decent credit union. 3 is solved by a decent credit card, 4 and 5 are solved by Apple/Google Pay. None of these require a cryptocurrency.
What about using your money electronically without permission from a large organization?
David Marcus update [1] : Special thanks to @Visa and @Mastercard for sticking it out until the 11th hour. The pressure has been intense (understatement), and I respect their decision to wait until there’s regulatory clarity for @Libra_ to proceed, vs. the invoked threats (by many) on their biz. I would caution against reading the fate of Libra into this update. Of course, it’s not great news in the short term, but i…
It is fantastic news for most people, who honestly do not want their money being controlled and monitored by the whims of those who run a social media company, with a history of not putting customers first.
Any financial institution wanting to be on the right side of history should run, not walk from this project.
That isn't to say there is no place in the future for purely electronic currency, but it sure hell better not be this.
Change of this magnitude is hard because frankly... black mirror
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1 and 2 are solved by a decent credit union. 3 is solved by a decent credit card, 4 and 5 are solved by Apple/Google Pay. None of these require a cryptocurrency.
What about using your money electronically without permission from a large organization?
Practically every store that took bitcoin used bitpay as an intermediary so they never actually held any btc. They just had someone else turn it into USD and send them the money.
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1 and 2 are solved by a decent credit union. 3 is solved by a decent credit card, 4 and 5 are solved by Apple/Google Pay. None of these require a cryptocurrency.
What about using your money electronically without permission from a large organization?
Does Libra solve this problem?
I wonder who paid them to say this?
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Bitcoin can be "killed" in the sense that it can become useless for the 99.99%. Simply hunt down vendors who accept Bitcoin and organizations who facilitate its exchange. At that point, Bitcoin would be essentially dead as a rival to any currency.
> Simply hunt down vendors who accept Bitcoin and organizations who facilitate its exchange. This is commonly a argument for having drugs illegal too. "If we hunt them down, eventually there will be no one left" What we know now, is that making something illegal, could make it stronger. If Bitcoin becomes illegal in most country, would the price go up or down? Suddenly there is a black market, and opens up a whole ot…
It's not as though drugs became more popular because they became illegal. Prices may have gone up because they were harder to obtain and there's less competition. Demand was still there because.. well people like doing drugs or are addicted to them.
With Bitcoin, why would a business risk legal action to accept it? There's very little incentive as far as I can tell.
There was absolutely no reason for this to project to exist. The only feature of digital currencies that make some of them interesting is that they are fully distributed and based on absolutely zero trust of other users on the network. What Facebook was trying to do here was take something that could be implemented in a standard centralized database, stick some marketing on it, and try to ride a hype wave that has si…
Absolutely. My definition of a decentralised system is not one that's controlled by a handful of entities...
I’m not sure how this got broken, but a few powerful companies seem to be running with it.
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Bitcoin can be killed by means other than technological. For example it can be outlawed. Sure, people would still be able to use it, but they would be breaking the law and that would deter many, possibly enough to kill it outright.
Bitcoin does not need to be killed because it’s dead already: proved to be useless for all practical purposes, now used mostly for money laundering or other criminal activities
Criminals use other less tracable coins.