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by ecwilson
2672 days ago
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They never will be. I think people misunderstand cryptocurrencies because of the mania that surrounds them. Bitcoin, for example, is a protocol, and should be judged as such. The most important thing for the protocol is trust, reliability, and scalability. Not UX and convenience. That could/should come from the layers/products that get built on top of the protocol. |
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> The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost.
He clearly expected Bitcoin to cheaper and faster than credit cards and I've often wondered how he could have been so wrong about that.