Oh yeah? Try exchanging a small amount of cash from the US with someone in Africa. Cash doesn't solve this problem. In fact there is no good current solution to this problem.
Re:Bitcoin falls below $5,000
by Applethief on Monday November 19, 2018 @01:54PM
(#18488716)
What are your thoughts on Ripple / XRP?
The parent wasn't talking about Bitcoin in particular though. Newer systems like Tendermint finalize transactions after a few seconds by running a consensus algorithm after each block. We're working on a system with a different consensus algorithm which should have subsecond latency. There are also layer 2 systems which can provide almost instant latency, albeit with some caveats.
Perhaps but cash is disgusting. Have you read how 90 percent of cash is covered with cocaine? Not to mention all the creepy crawlies on it... ewww...
> Cash is already the perfect medium for exchanging small amounts of money.
Yes in person, but not over the internet. Crypto currencies definitely have potential for exchanging small amount of money there!
Cash is already the perfect medium for exchanging small amounts of money.