Re:Selling Bitcoins in Canada
by hanklazard on Wednesday December 20, 2017 @04:55PM
(#15974193)
For sure. But here we are, at least with btc. Current fees, volatility, and confirmation times make it a pretty bad choice as a proper currency.
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It's hard to argue that something that could be worth +/- 10%+ in the time it takes a transaction to process is a good "store of value", too.
Re:Selling Bitcoins in Canada
by hanklazard on Wednesday December 20, 2017 @05:36PM
(#15974525)
Fair enough, maybe it’s not the best label. My purpose was just to discriminate between the cryptocurrencies that are trying to solve some other problem (create a worldwide supercomputer, decentralized storage, etc) from those that are more straightforward.
I certainly don’t think of any of it as a store-of-value ... more like a trip to the casino!
I wasn't really aiming that at you so much as at the constantly changing story about Bitcoin's purpose coming from the Bitcoin community as a whole.
Re:Selling Bitcoins in Canada
by kindfellow92 on Thursday December 21, 2017 @03:02AM
(#15977229)
Bitcoin is new technology, the fact that its use cases are changing is evidence of that. That should be exciting, not disheartening. It would be a worse sign if it simply accomplished the goal it purportedly was intended for and nothing else. This shows it may have more growth potential.
I for one know a few folks who have used bitcoin to transfer large sums of money across borders... pretty crazy times we live in. I expect bitcoin to dominate in this area in the short to medium term.