News for hackers. Stuff that matters.

A comment on Ask HN: When will cryptocurrencies be currency?. Parent comment

Re:Ask HN: When will cryptocurrencies be currency? by kaleidic on Sunday July 02, 2017 @06:20PM (#14684645)
Yes - that's right : people mostly shouldn't need to hold such high Bitcoin balances to buy things. What's in the way is the state interfering so you can't change dollars for Bitcoin with your bank and there aren't services that do that which are convenient enough. In time this will change so you can just make Bitcoin payments from your checking account.
[ Parent | on HN ]
Re:Ask HN: When will cryptocurrencies be currency? by taysic on Sunday July 02, 2017 @08:01PM (#14684977)
"In time this will change so you can just make Bitcoin payments from your checking account."

If Bitcoin could displace banks, what incentive do they have to displace themselves?

[ Parent | on HN ]
Re:Ask HN: When will cryptocurrencies be currency? by MarkMc on Sunday July 02, 2017 @10:00PM (#14685413)
Banks make money by borrowing from one person and lending to another at a higher interest rate. They can do this in Bitcoin just as well as in US dollars.
[ Parent | on HN ]