Hacker News new | ask | show | jobs
by ineptech 3212 days ago
Sure, but this is an article specifically about BTC; none of its conclusions hold for cryptocurrencies generally. I guess it just seems really deceptive to talk about fiat's "hidden cost" of inflation while ignoring BTC's not-at-all-hidden cost.

Similarly, I'm unclear on why confirmation times aren't considered a serious problem. It seems like BTC enthusiasts like to discuss a hypothetical future in which the BTC infrastructure is so mature that you can buy coffee without worrying about fees and confirmation times, but I don't see how we get there from here. Either the payment takes hours to confirm (leaving the coffee shop vulnerable to double-spending) or it goes through an off-chain processor (who would demand to know my identity). Either way you're losing one of the main selling points of using a cryptocurrency in the first place.