[beaner]

Just seems like part of an evolutionary process. Very rarely is software released where version 1.0 is perfect. Maybe if government currencies allowed for these things, they would also be better by now.

This is part of the reason why bitcoin remains highly speculative. People point this out like it's a bad thing - the only people who have it are just investors, speculating. But this is part of the process that bootstraps bitcoin's value, so that when it does become more practical to use, actual value is being transferred.

[twblalock]

> Just seems like part of an evolutionary process. Very rarely is software released where version 1.0 is perfect. Maybe if government currencies allowed for these things, they would also be better by now.

Let's use the US dollar as an example. In what ways do you think it could be improved if people could fork it?

[slice_of_life]

> In what ways do you think it could be improved if people could fork it?

What follows a fork is a competing variant. From a consumer's vantage point, this is almost always good. More competition creates such a great incentive structure that usually(but not always) serves the customer well.

However, the if you look at it from the vantage point of a stakeholder such as an active developer, speculator or an investor, then a fork seems unquestionably detrimental. You'd want a monopoly in this case.

In what may seem to many as a severe case of cognitive dissonance, I'd submit that both of these scenarios are useful and that the only caveat is that they apply at different stages of an endeavor's development i.e. in the early years when a product is nascent, I think competition is actually good. By giving consumers choice, the best product naturally rises to the top. In later years when a product/market is mature, I personally don't mind a monopoly because it grants advantages of scale that would otherwise not be available to a smaller outfit.

[beaner]

As one example, maybe we would have an alternative to ACH, which would allow money to be settled in seconds, instead of several business days. Maybe we could have this at the protocol level (banks) instead of having to use private 3rd party software (Venmo) which emulates this feature but reduces our privacy.

[omarchowdhury]

https://www.zellepay.com/ https://www.zellepay.com/participating-banks-and-credit-unio...

[beaner]

"1 Transactions made between financial institutions in the Zelle NetworkSM typically complete within minutes. If your recipient does not have access to Zelle through their bank or credit union, transactions could take between 1 and 3 days to complete.

Zelle is available to U.S. bank account holders only."

[omarchowdhury]

The participating banks count for a majority share of US bank accounts.