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Re:Crypto: The Good, the Bad and the Ugly by jack_pp on Thursday January 06, 2022 @04:22AM (#29821231)
Bitcoin is tied to the physical world the same way every other currency is tied to the physical world. Right now you can transfer abstract value you have acquired without a 1-2% fee through bitcoin, which is much easier than doing it via a bank. For example a poker player needing to get 1 million dollars to Monaco to play a tournament would have to pay 1% (10,000$) and wait god knows how long if he went through the banks, with bitcoin that process is much smoother.
Re:Crypto: The Good, the Bad and the Ugly by SirMonkey on Thursday January 06, 2022 @09:27AM (#29823875)
In reality that "poker player" would probably just get a line of credit at the casino[1]. Moving/Getting money is "hard" mostly if you are poor.

[1] https://en.wikipedia.org/wiki/High_roller

Re:Crypto: The Good, the Bad and the Ugly by yunohn on Thursday January 06, 2022 @09:29AM (#29823909)
> For example a poker player needing to get 1 million dollars to Monaco to play a tournament would have to pay 1% (10,000$) and wait god knows how long if he went through the banks

Do you have a source for this? I find it hard to believe that high stakes gambling is hindered by banking systems.

Re:Crypto: The Good, the Bad and the Ugly by jack_pp on Friday January 07, 2022 @02:14AM (#29836027)
Re:Crypto: The Good, the Bad and the Ugly by ryan93 on Thursday January 06, 2022 @10:03AM (#29824352)
you can do six figure bank transfers for zero fee