Re:Photos: Life inside of China’s massive and remote Bitcoin...
by placeybordeaux on Wednesday July 12, 2017 @04:24PM
(#14756310)
> If Bitcoin is inferior to an existing payment system used by 500 million people, then it’s worthless.
If Bitcoin is strictly inferior to an existing payment system used by 500 million, then it's worthless.
IMO the major value proposition of bitcoin is that no one can exert influence to invalidate tx or blacklist certain users. Payment systems that have this property will always have some utility for organizations that nation state actors are trying to stop, e.g. ransomware, any darknet market provider, political dissidents, freedom fighters/terrorists, people trying to participate in a market in a controlled economy etc.
If Bitcoin is strictly inferior to an existing payment system used by 500 million, then it's worthless.
IMO the major value proposition of bitcoin is that no one can exert influence to invalidate tx or blacklist certain users. Payment systems that have this property will always have some utility for organizations that nation state actors are trying to stop, e.g. ransomware, any darknet market provider, political dissidents, freedom fighters/terrorists, people trying to participate in a market in a controlled economy etc.