701–710 of 910 posts
MasterCard is in the business of payments. Millions of people now have a bunch of idle money sitting in a potential payment vehicle outside of their current network. Anything MasterCard can do to start to siphon off some of that value is good for them. This has nothing to do with ideology, philosophy or technology. And d4mn right it’s a good sign for the Bitcoin bulls.
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Sounds great. Why not just use the nano technology to let me move around the USD in my bank account? Why do we have to invent an all new currency for these technologies to use? There is no good reason, other than to make early adopters wealthy, which they would like very much. What's stopping the US government from taking nano and creating a USD-backed version?
Exactly. So where is it? I've been using the internet since 1997. Banks had the chance to make it. I read here all the time "a single database would be a better solution". So where is the single database? Where is the instant money transfer? Where is the free money transfer over country borders? My wife lived in US for a while, she is now in EU. She still has some bank account there with a few thousand dollars on it.…
I use a major US bank. They offer $0 wire transfers to EU accounts. Wire goes out same-day.
Would much rather do that than transfer to a crypto exchange, convert to crypto (with fee), send crypto (with fee), exchange crypto on the other end (with fee), and the transfer to other bank.
There’s always lots of bluster and comments about cryptocurrency with things like this and not always much concrete information. I think as a tech community here on HN we should try to focus on why these changes are occurring so quickly and what the repercussions are. Let’s talk constructively about the risks and opportunities more than we do about who’s buying, who’s selling, on and on.... is it a bubble.. does it h…
I like the spirit of your comment - that's the actual hacker mindset. Way too many comments on Bitcoin/Crypto-related submissions on HN are just knee-jerk reactions that don't really contribute to a constructive conversation. When I started lurking on HN in 2010, it was a very different culture. I miss these days! Regarding your concern around economic inequality: why do you think that people would fall further behin…
Excellent points. I think like with a lot of tech, if there’s a potential to liberate people, there’s also the potential for it to work against them too. The internet helped foster open communication when it evolved, helping with the fall of the USSR and the lifting of the iron curtain... but it has evolved now in many places as a way to spread more propaganda, and track citizens movements etc.
Crypto trusts sound like a good idea. I also like how the US targeted family’s and kids for savings bonds back in the day. Get people started in the direction of understanding financial instruments, and then teach them more as they go.
Ultimate I’m in the educate, educate, educate camp. If we can lobby our collective governments to start that earlier than later, so much the better. When people can see cryptocurrency working for them rather than just the financial sectors, then it’s no longer the “enemy”.
Maybe we can have a small fund of highly divisible crypto, or even a totally separate chain that schools can use. Kids in computer science classes then have an on ramp to learning how it works.
It’s already a mystery to most. I do fear what might happen when the vast majority of people don’t understand what may become a significant part of their economy.
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Call me back when crypto is being used for anything normal - buying groceries, homes, pay checks, etc rather than trading and speculation. As of now, if my job attempts to pay me in DogeCoin I will quit and file a complaint with the NLRB. The thing is, no matter how much you think the current financial system is crooked, there is always a way to settle disputes through courts and regulators. The worst financial hiccu…
Dogecoin is designed to have massive amounts of inflation and would never be seriously considered. Bitcoin is being used for normal things. Want to buy a Tesla?
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" Currency of my country lost 250% of its value over last 7 years. " The problem is not your Central Bank, it's almost assuredly a total dysfunction of government and the civil services - which will have effects more far reaching that Central Bank problems. The solution is not BTC. It's to use something common and trusted, temporarily, like USD or Euros until there is enough credibility in the system for external par…
The average person in your neighbour hood is sitting reading the paper, contemplating: “I’m worried about inflation. should I buy some Bitcoin, or should I overthrow the government? I think I’ll try the overthrow option today”
This is what causes they hyper sensitivity, authoritarianism, and 'blame America for Everything'.
But yes, BTC is completely unpragmatic.
USD, at least in Latin America, has the benefit that it will creep into the system irrespective of what anyone in charge says.
Nobody needs to be told that USD's are 'good' the hairdresser, cabbie, landlord, grocer will just take it.
I wonder if Euros have the same effect in E. Europe and North Africa. Maybe these days.
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Some merchants do pass the savings on to the user for using Bitcoin vs credit cards, and there are ways to pay with Bitcoin (lightning) that involve negligible fees.
> nd there are ways to pay with Bitcoin (lightning) that involve negligible fees. Cool, where can I use this Lightning network? It exists and works, right?
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Some merchants do pass the savings on to the user for using Bitcoin vs credit cards, and there are ways to pay with Bitcoin (lightning) that involve negligible fees.
> nd there are ways to pay with Bitcoin (lightning) that involve negligible fees. Cool, where can I use this Lightning network? It exists and works, right?
* Bitfinex
* River financial
* Fold App
* Bitrefill
* OKEx
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What's the point of an unstable, volatile, frantically manipulated currency that is susceptible to social media pump and dump schemes (Elon + Doge)? Currency and its exchange rate needs to be relatively stable for the world to put trust into it. Saying that BTC is stable, but the rest of the world's fiat currency is fluctuating makes no sense. US dollar provides stability and security, I feel confident that a cappucc…
How can you possibly back up the claim that the USD is stable? My grandparents were able to buy several acres of land and build a house for 80k in the 1970s. Doing the same today costs 500k+!!! It's completely outrageous. Ths USD is far from stable and anyone who thinks so is either insanely privileged or ignorant!
These stories usually spur more enthusiasm for buying cryptocurrency, but ironically those buyers aren’t interested in spending cryptocurrency using their MasterCard. They’re hoping other people will buy cryptocurrency from these announcements, driving the price up. Or, more likely, they’re just hoping other people will buy cryptocurrency and not use it in these spending systems. Spending cryptocurrency would result…
What's the point of an unstable, volatile, frantically manipulated currency that is susceptible to social media pump and dump schemes (Elon + Doge)? Currency and its exchange rate needs to be relatively stable for the world to put trust into it. Saying that BTC is stable, but the rest of the world's fiat currency is fluctuating makes no sense. US dollar provides stability and security, I feel confident that a cappucc…
These stories usually spur more enthusiasm for buying cryptocurrency, but ironically those buyers aren’t interested in spending cryptocurrency using their MasterCard. They’re hoping other people will buy cryptocurrency from these announcements, driving the price up. Or, more likely, they’re just hoping other people will buy cryptocurrency and not use it in these spending systems. Spending cryptocurrency would result…