Re:A Prediction: Bitcoin Is Doomed to Fail
by rimantas on Wednesday November 27, 2013 @04:55PM
(#6811416)
Did you forget about wire transfers? At least where I live it is possible to live without touching physical money for a long long time, we have pretty advanced e-banking and m-banking (and we never had checkbooks).
Yes id does involve the bank, but from the end user perspective it is almost no overhead and sometimes even saves the trouble.
Is stuff like direct-debit even possible with bitcoin?
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Re:A Prediction: Bitcoin Is Doomed to Fail
by jpindar on Wednesday November 27, 2013 @05:42PM
(#6811672)
I haven't heard of any, but AFAIK there's nothing preventing someone from writing a wallet that allows automated payments or the equivalent of direct-debit, with or without the involvement of a bank.
Direct-debit is undoable. That's one of its key-features.
You can add direct-debit to bitcoint with a trusted third party. (And there might even be clever ways to do direct debit in bitcoin without that third party.)
Re:A Prediction: Bitcoin Is Doomed to Fail
by highbees on Thursday November 28, 2013 @08:50AM
(#6814452)
CoinKite [0] is a new Bitcoin debit/merchant machine company based in Toronto. The key to driving Bitcoin's value is increasing its utility, and this is done by enabling every day transactions.
CoinKite will be interesting to watch.
Re:A Prediction: Bitcoin Is Doomed to Fail
by cashmonkey85 on Thursday November 28, 2013 @12:32AM
(#6813173)
That is true for me locally also but you realise when you travel or do business international the current systems all fail to do their job.
I use my Visa wherever I go in the world without any problem, and for business money transfers are fast and easy.
I really fail to see what problem that isn't already solved in this regard.