All of these payments services are going to die within 5 years anyway. Before people get all pissy and down vote this assertion let me you remind you that a massive(and growing) portion of the world has become completely disillusioned with the global fiat currency system(or perhaps just enlightened as to how it works?), regardless, its days are numbered. I am not however entirely convinced that cryptocurrencies, namely bitcoin, aren't in fact a creation of global financiers anticipating rejection of the fiat currency model, but fuck it we'll see.
Hacker News: where some people legitimately believe that the entire world will abandon the current credit/monetary system, because reasons (or alternatively, "just because" - you know, to see 'how it works', because an entirely new monetary system is like testing on some FiveFinger shoes to be spontaneous).
Also, Bitcoin is totally an invention by the Fed to ween people off fiat, despite the fact the Bitcoin network and its total overall volume are a joke compared to global currency trade, and basically worse, or completely irrelevant, for consumers in pretty much all cases.
If there was any ever proof techno libertarian supernerds are insanely disconnected from reality, stuff like this is it. You have a better chance of actually being The Highlander. But seriously, I could write a comedy novel about this stuff at this point - so do continue to go on.
I'm disconnected from reality? So how do you view the global monetary system working 10 years from now? Will the world be using U.S. petro-dollars? Can the fed print off another hundred TRILLION and avoid hyper-inflation. Like it is all well and good to say I have my head up my ass but can you give me some of these answers?
Why would the world shift from a currency that is economically and politically entrenched via trade and treaty?
What would Bitcoin solve that the USD doesn't?
Why would the world accept a technological "solution" whose implementation already contains dire technical problems?
What makes you think hyperinflation is a realistic outcome?
If I grant you a world that decides fiat model is Bad, why would they choose a system that is inherently centralized? One whose early adopters and hoarders have been manipulating the crypto-currency market for their advantage for years? One whose transaction history is public to _everyone_? One that only has a handful of gatekeepers, that have been proven to work with governments and have been caught delaying transactions to profit from the change in the price in Bitcoin?
"Some studies suggested that even slightly increased fluoride exposure could be toxic to the brain. Thus, children in high-fluoride areas had significantly lower IQ scores than those who lived in low-fluoride areas. " - http://www.hsph.harvard.edu/news/features/fluoride-childrens...
Sorry to burst your bubble brother, if you don't think solar radiation management("chemtrails") is happening you're wrong again. https://www.youtube.com/watch?v=a4s1qNJpko8
Now as for inflation..well I don't think there's much of a conspiracy there.
As for the Harvard results, the results aren't as important - it was meant as the joke that "The government is doing it to control us". You know - the conspiracy theory, just like all the other ones, which if you wanted to counter my claim (which wasn't even the point for fucks sake), you would need evidence of. As opposed to some chemicals having unintended side effects, which is possible (and happens).
I like how you also conveniently ignored the rest of my post, and didn't actually explain your point about inflation. Instead, you just said "well, it's obvious bro". How explanatory!
I'll take that as an indication you don't know what you're talking about. Thanks for playing!
Stop changing your post so I can reply lol! That Harvard study is a meta-analysis of seperate 27 studies conducted independently around the world hahaha, perhaps you reside in an area with high fluoridation. I'm not even going to acknowledge a link to metabunk... In closing there are 2 types of people in the world - those who know 2 Boeing 767's can't implode 3 buildings and those that don't.
In both Iceland and Greece you saw a massive loss of trust with the existing government (both since replaced democratically)- that has nothing to do with peoples faith in their currency, as you've not seen a real call in either place to go back to a specie backed currency.
In Greece there have been calls to go back to the Drachma - but this doesn't mean a lack of faith in fiat currency, the greeks seem to more want out of the EU currency union then anything else.
As shown in practice by adoption of credit cards and other financial products, people (well, most of them - the 'buyers') for most of their daily business do not want irrevocable transactions like bitcoin provides, but transactions that are reversible and can be controlled by legal authorities.
Because fraud matters. Because consumer protection for all kinds of non-delivery, mis-delivery or simple misunderstandings is actually more important for everyday purchases than all the advantages of an independent cryptocurrency. And of course, widespread availability, liquidity and value stability are just non-optional table stakes.
Bitcoin on its own is not competitive as a replacement for the full payment infrastructure. Bitcoin together with a widespread trusted escrow system, reputation system and a (currently unavailable) legal framework could fit the role, but in that "Bitcoin++" the missing parts are larger and more complex than the Bitcoin core implementation.
"In theory, this distributed micropayment network–the Lightning Network–could scale Bitcoin transactions up to “billions of transactions per day” across the planet, with minimal use of the blockchain and minimal fees (zero, for direct channels.)"
Instant and way more than 7 tps... Settled on the blockchain and still decentralized. ;)
Lightning Network has a number of problems as the solution for Bitcoin's problems:
2. It's a sidechain - that is to say, an altcoin that claims a link to Bitcoin. The forces that would cause mutually-distrusting individual humans to maintain the linkage is unclear.
1. Like other sidechains, but unlike altcoins, it ... doesn't exist. This is a subtle point, but I think it might be an important one.
(not that I am any fan of altcoins either. But basically, the Bitcoin protocol as it stands was never designed with scaling in mind.)
It's a new protocol that needs to be accepted on top of the blockchain with its own 3rd party sidechain, just like all the other proposed solutions that were never accepted by the community. Cool.
