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by 0dayz 331 days ago
The same can be said to a degree about cash.

Since we don't actually need visa or mastercard, but they make it damn convenient to buy stuff.

Similarly blockchain got their equivalent of this.

1 comments

Right, that's why the whitepaper is titled "Bitcoin: A Peer-to-Peer Electronic Cash System". The idea is to bring many of cash payments features to the digital world, which are not possible with payment systems with intermediaries: uncensorability (nobody can keep you from transferring cash); non-reversability (no chargebacks, escrow systems are optional); low fees (contentious because BTC decided not to scale on-chain, but that was Satoshi Nakamoto's idea.