21–30 of 225 posts
Earlier quoted context omitted.
What good is Bitcoin if the ecosystem is bad?
If everybody used bitcoin for everything, then there would be no need for exchanges, payment gateways and the like. This stuff is added cruft.
I don't think USD -> Bitcoin -> USD is really the way to go on this. If you are trading in USD, why would you move it into bitcoin and back again? You already had it in USD. If you need to buy some groceries in the US, you wouldn't trade your USD for CAD (Canada money), then bring CAD to a grocery store that also accepts USD. You would only bring CAD if you already had CAD.
Bitcoin was never intended to reduce the cost of Banks, but rather supply an alternative.
Bitcoin was never intended to reduce the cost of Banks, but rather supply an alternative.
While I agree that those fees are extravagant and the underlying process should have been much easier, it probably would have been prudent to investigate the process first, before starting it. I can't imagine being unaware of fees associated with using Coinbase before perusing their services.
Earlier quoted context omitted.
Interesting article. But none of the problems described are actually with fiat currency. I see criticisms of the Fed, Banks, Credit Card Companies, Credit Unions. All the problems were due to issues with exchanges and intermediaries and with handling USD. It seems the actual fiat currency part worked fine.
The difference is it's perfectly possible to use Bitcoin on your own without dealing with intermediaries. But you can't send cash over the internet.
Do people who are in to Bitcoin think intermediaries solely exist to extract value from transactions? There's actually a service being provided.
Earlier quoted context omitted.
Interesting article. But none of the problems described are actually with fiat currency. I see criticisms of the Fed, Banks, Credit Card Companies, Credit Unions. All the problems were due to issues with exchanges and intermediaries and with handling USD. It seems the actual fiat currency part worked fine.
The point you have missed is that we don't need these intermediaries if fiat currency is taken out of the mix.
Interesting article. But none of the problems described are actually with bitcoin. I see criticisms of CoinBase, WB21, TradeZero, Bitpay. All the problems were due to issues with exchanges & intermediaries and with handling USD. It seems the actual bitcoin part worked fine.
Interesting article. But none of the problems described are actually with fiat currency. I see criticisms of the Fed, Banks, Credit Card Companies, Credit Unions. All the problems were due to issues with exchanges and intermediaries and with handling USD. It seems the actual fiat currency part worked fine.