News for hackers. Stuff that matters.

A comment on Bitcoin is a ‘boon for surveillance’, says former CIA director. Parent comment

Re:Bitcoin is a ‘boon for surveillance’, says former CIA dir... by danuker on Wednesday April 14, 2021 @01:18AM (#26803209)
It is winning as internet gold, but not as internet money. The fees are as large as banks', if not larger.

The only advantage over fiat is the theoretical purchasing power stability due to algorithmic supply.

[ Parent | on HN ]
Re:Bitcoin is a ‘boon for surveillance’, says former CIA dir... by runeks on Wednesday April 14, 2021 @03:35AM (#26804102)
> The fees are as large as banks', if not larger.

The fee does not depend on transaction value, so the greater the value transferred the smaller the fee in percent. Bank transfer fees are a percentage of value transferred, in my experience.

[ Parent | on HN ]
Re:Bitcoin is a ‘boon for surveillance’, says former CIA dir... by danuker on Wednesday April 14, 2021 @06:08AM (#26804996)
Yeah, so it discourages small payments relative to large ones.

Strictly looking at this, it is somewhat more unfair to poorer people compared to banks.

[ Parent | on HN ]