61–70 of 369 posts
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Well the point is with Bitcoin you don't have to trust RBC to not freeze and/or abscond with your $1B.
Also good luck getting 1B converted to dollars without a major head-ache. I feel like 1B in bitcoin is as bad if not even worse than 1B in cash. It isn't super useful in that form.
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They certainly are not. Not between countries (even if they are EU countries and both use the Euro) and not for 1 billion Euros/Dollars. Edit: A lot of people here are saying "I do not pay for it so it is free". Just because you don't pay does not mean it is free for everyone . The law just states that fees must be the same for domestic and EU transfers, not that the transfer is free and, there are countless examples…
They certainly are, just not for 1b.
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I'm not aware of any government that taxes money transfers. At least in any country I have lived in you can move around your money as much as you like without any taxes. Now if you're trying to avoid income tax or something like that that's a different question, but then using Bitcoin doesn't magically make that disappear either.
In the us you would get taxed https://www.irs.gov/businesses/small-businesses-self-employe...
For all of the talk about how Bitcoin is not truly anonymous, this wallet demonstrates otherwise, with the apparent 'anonymity proviso' being that you don't do too much with it, and just let the coins sit.
I can also be anonymous if I never speak or leave my house, but that's not really how it works, is it?
Your house has to be registered to someone and you have to declare who lives in it, if it's yours.
Anonymity is not about being a private person.
Earlier quoted context omitted.
Well the point is with Bitcoin you don't have to trust RBC to not freeze and/or abscond with your $1B.
Also good luck getting 1B converted to dollars without a major head-ache. I feel like 1B in bitcoin is as bad if not even worse than 1B in cash. It isn't super useful in that form.
Unpopular opinion: why do we care so much about making it cheaper for rich people to move money around? Do we think somehow that will “trickle down” to us mere mortals and put western union and their ilk out of business?
And I'm definitely not saying that the current generation of crypto has figured this problem out, but I am hopeful for the sake of SMB that they won't always have to pay 3% fees on cashless transactions.
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The point is the entire point of Bitcoin itself is to minimize or hopefully remove completely the requirement of trust.
You still have to trust the counterparty to deliver whatever the Bitcoin is being exchanged for.
2013 called and wants its arguments back
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not with a multi-signature address acting as escrow. 2013 called and wants its arguments back
In that case you still have to trust the escrow service.
the escrow service would be one party of the multisignature transaction. no party can move the funds on their own. you are moving an arbiter to the point of transaction, instead of after a transaction doesn't go as planned.