Bitcoin biggest bubble in history, says economist who predicted 2008 crash

Re:Bitcoin biggest bubble in history, says economist who pre... by icebraining on Saturday February 03, 2018 @02:27PM (#16299091)

I think it's hard for people to appreciate this because this is already a pretty trivial task using tools like Venmo (or whatever your choice might be).

Venmo is great - for people in the US who only transact with others in the US. I had the same problem in Belgium - my local friends used Payconiq, which of course only works if you have a Belgian bank account.

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Re:Bitcoin biggest bubble in history, says economist who pre... by wgerard on Saturday February 03, 2018 @03:03PM (#16299288)

Sure, and I think this problem of transferring small amounts of money internationally painlessly is probably the strongest case for cryptocurrencies. But:

1) I don't think that's what cryptocurrencies want to be relegated to (a forex market essentially)

2) This also seems like a way around currency controls and things like AML compliance. If that became a problem at some point, I have to imagine governments will start putting the screws on any major exchange that interacts with fiat (and to some extent they already have).

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