banks dont hard fork when theyre robbed Mr robot is just a tv show deep down inside, humans are realists, the reality is that all currency, like its representative nation, has a shelf life outside its intrinsic physical bartering value. Tangible currency can be lost and found. I drop my wallet, its gone to me, but still exists, someone else can find it and use it. Lose your BTC wallet, its gone, and its tied up forever, its worse than fiat currency in that there is no recourse. You can insure a bank against robbery, if you catch the robber with the goods, you can reach in the bag and reinstate the currency. Wait until the perfect malware, and there will be a perfect malware, breaks the chain. Then the tried and true representative precious metal (or whichever barter-able commodity) standard proves to be bar whore reliable reality that it is. Fees are the lowest concern in the real chain I could be wrong, quite often I am. But Ill hedge a bet people in 25 years will speak as fondly of block chain currency as they do the Edsel.
On Thu, Nov 16, 2017 at 3:42 PM, Travis Johnson <t...@ida.net> wrote: > Hi, > > The entire idea and goal of bitcoin was to take away the financial > institutions from having "control" and charging fees to handle money. In > exchange for no fees (sending or receiving BTC is free), you also have no > security. Once it's sent, it's gone. > > However, now the banks have just been replaced with places like > Coinbase... bitcoin "exchanges" that charge roughly 1.5% for every buy/sell > transaction... and they take 7-10 business days to convert btc to cash or > visa versa. > > I don't see how this is a long term thing? Once all the "mining" is being > done by huge datacenters (for another 3-4 years is all), then I don't see > it becoming the new money standard like everyone thinks. You will still > have to pay fees, and someone else is still in control of your money. :( > > Travis > >
