Re:The China ICO Ban
by hackernudes on Tuesday September 05, 2017 @05:29PM
(#15179274)
> Inflation is a feature of currencies...
Inflation is a tool of countries. I think it is a useful tool. In this topic one should compare Bitcoin to gold - no inflation [* insert caveats here about mining both physical and computational].
> In 2017, traditional currencies work pretty well for global business
I agree.
> Without reversible transactions...
Ultimately, removing the overhead of mediation will make transactions cheaper. It is possible to add mediation in another layer and I hope it would not be more expensive or risky than our current system.
Imagine a small business where charge-back fraud can really hurt. Cryptocurrency gives the ability to accept payments risk-free. This topic is really a double-edged sword.
Some optimistic things to think about:
- people who do not have access to banks but do or will have access to the internet and smartphones
Inflation is a tool of countries. I think it is a useful tool. In this topic one should compare Bitcoin to gold - no inflation [* insert caveats here about mining both physical and computational].
> In 2017, traditional currencies work pretty well for global business
I agree.
> Without reversible transactions...
Ultimately, removing the overhead of mediation will make transactions cheaper. It is possible to add mediation in another layer and I hope it would not be more expensive or risky than our current system.
Imagine a small business where charge-back fraud can really hurt. Cryptocurrency gives the ability to accept payments risk-free. This topic is really a double-edged sword.
Some optimistic things to think about:
- people who do not have access to banks but do or will have access to the internet and smartphones
- "streaming money" / micropayments
- smart contracts