Why Cryptocurrencies?: For the Unbanked

Re:Why Cryptocurrencies?: For the Unbanked by tannerwj on Thursday September 05, 2019 @04:21PM (#20890328)

Correct me if I'm wrong, but you don't need a fast persistent Internet connection or enough storage to download the full Bitcoin/Ethereum blockchain to be able to send transactions correct?

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Re:Why Cryptocurrencies?: For the Unbanked by android2222 on Thursday September 05, 2019 @04:24PM (#20890356)

I think you do since not having it means that your wallet wouldn't know if you've spent or received any coins.

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Re:Why Cryptocurrencies?: For the Unbanked by tannerwj on Thursday September 05, 2019 @04:32PM (#20890412)

For that you would just need some sort of Internet connection and some storage, nothing out of reach for the vast majority of people, or am I wrong again?

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Re:Why Cryptocurrencies?: For the Unbanked by android2222 on Thursday September 05, 2019 @04:56PM (#20890558)

Yeah I mean there are many many parts of rural north america that do not have easy access to broadband. I grew up in Wisconsin - I just simply couldn't give someone coins when I'm up in the Northwoods.

Here's a quick example: https://www.vox.com/2017/6/20/15839626/disparity-between-urb...

Edit: If you give someone a coin with the private key on paper, technically you can give them coin offline, but the rest of the networks have no clue this happened, and you can't spend unconfirmed monies.

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Re:Why Cryptocurrencies?: For the Unbanked by TazeTSchnitzel on Thursday September 05, 2019 @06:05PM (#20891076)

Bitcoin's blockchain is a quarter of a terabyte in size, Ethereum's is not far behind.

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