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by LispShmisp 1923 days ago
While there are many issues surrounding our banking industry, the way it manages currencies is far superior to how any of the crypto currencies work. Fraud prevention, fraud reversibility, low fees, transaction rate, simplicity. Reliability is fine as well, I don't get the issue?

Keeping transactions publicly in the blockchain is probably one of the worst things that could happen to privacy.

I've read Bitcoin's paper back in ~2011, played with it's implementation a bit, so I'm well aware of what the blockchain is. It does NOT solve anything meaningful, it's not nearly as special as layman make it out to be.
2 comments
joe_momma 1923 days ago
Once again you're using one coin to represent the entire industry. You don't understand the technology and how it will penetrate every sector of society. Bitcoin is the KittyHawk of aviation. Yah no one flies the original plane anymore but it started an industrial revolution. And you are very much wrong on your assumptions on our current international money moving system. The benefits will be tremendous and is very much in play, go ask the central banks of France or Japan. You're missing out on what is happening right in front of your eyes.
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tablespoon 1923 days ago
> You don't understand the technology and how it will penetrate every sector of society. Bitcoin is the KittyHawk of aviation. Yah no one flies the original plane anymore but it started an industrial revolution.

I feel like you're about five years late to the blockchain-will-change-everything bandwagon.

Also your chronology is all wrong. The industrial revolution started well before 1903.

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joe_momma 1923 days ago
Sounds like you were five years too early. And prepandemic I would agree with you. Today I can't.

I also said "an industrial revolution" and not "The Industrial Revolution". But I'm glad you could no longer argue the validity of crypto currencies and the implications of mass adoption and use.

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joe_momma 1923 days ago
You don't work in finance, blockchain can solve a lot just look at Amazon QLDB, looks like it can solve quite a bit. And now you just sound jealous and very regretful.
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