Crypto Winter, or Crypto Ice Age?

Post by bearmode » Fri, Jul 15, 2022, 11:18 AM UTC

ciupicri wrote: post #110

pavlov wrote: post #22

Earlier quoted context omitted.

Wire transfers in North America are literally 40 years behind the evolution of bank transfers in EU and UK. Sending money in Europe is free and increasingly often instantaneous 24/7. It will be very difficult for crypto to reach the level of convenience available on unified infrastructure created through sensible regulation. Lacking that, maybe Americans will have to keep settling for all these clunky, incompatible i…

We must have different definitions of Europe because I live in Romania (which has been a member of the European Union since 2007) and yet even national transfers are not instantaneous if you're doing them in the evening, not to mention the weekend. And don't get me started with transfers to other European countries. I also think you meant cheap, not free. By the way I find it funny that some banks tax the receiver, s…

Post by ciupicri » Fri, Jul 15, 2022, 11:35 AM UTC

bearmode wrote: post #141

ciupicri wrote: post #110

Earlier quoted context omitted.

We must have different definitions of Europe because I live in Romania (which has been a member of the European Union since 2007) and yet even national transfers are not instantaneous if you're doing them in the evening, not to mention the weekend. And don't get me started with transfers to other European countries. I also think you meant cheap, not free. By the way I find it funny that some banks tax the receiver, s…

In the UK they're still usually instantenous in the evening, and also completely free.

Post by phyalow » Fri, Jul 15, 2022, 1:25 PM UTC

notyourav wrote: post #133

dcolkitt wrote: post #47

Earlier quoted context omitted.

But that's the point, crypto is a coordination mechanism that in most cases serves as an alternative when you don't have effective and trustworthy centralized institutions. It's pretty clear that (in this case) European financial regulators did a good job coordinating an effective and efficient electronic money transmission system. But the whole world is not Sweden. Even in America, which is relatively first world wi…

I’m currently in Turkey. I can transfer funds from any bank account to another in about 1 sec., for a very low or no fee, 7/24. I can even withdraw money from an ATM w/o a card just by scanning a QR code from banks app. All merchants have adapted contactless visa etc.. payments. I honestly don’t see how crypto has a sliver of chance as payment alternative.

Post by quonn » Fri, Jul 15, 2022, 1:58 PM UTC

axg11 wrote: post #39

pavlov wrote: post #22

Earlier quoted context omitted.

Wire transfers in North America are literally 40 years behind the evolution of bank transfers in EU and UK. Sending money in Europe is free and increasingly often instantaneous 24/7. It will be very difficult for crypto to reach the level of convenience available on unified infrastructure created through sensible regulation. Lacking that, maybe Americans will have to keep settling for all these clunky, incompatible i…

That's the point! Locally, there are great options almost everywhere. In Canada, I can e-transfer (Interac) anyone and the transfer is ~instant. Across borders the solutions are much worse. Crypto is the only payment rail that can realistically reach _everywhere_.

Post by cdiddy2 » Fri, Jul 15, 2022, 3:12 PM UTC

lucideer wrote: post #5

Bitcoin is absolute garbage and in theory any critique is good, but it bothers me that half of the points in this article aren't even internally logically consistent: > “Blockchain is just like the early internet”. No, it isn’t. Satoshi Nakamoto’s paper was published in October 2008 ... . Nothing about the original statement is predicated on the age of the tech. Even if it did, I don't see what modern tech corps have…