Tom Harding [ARCHIVE] on Nostr: 📅 Original date posted:2014-06-17 📝 Original message:On 6/16/2014 8:48 AM, Mike ...
📅 Original date posted:2014-06-17
📝 Original message:On 6/16/2014 8:48 AM, Mike Hearn wrote:
> In practice of course this is something payment processors like Bitpay
> and Coinbase will think about. Individual cafes etc who are just using
> mobile wallets won't be able to deal with this complexity: if we can't
> make native Bitcoin work well enough there, we're most likely to just
> lose that market or watch it become entirely centralised around a
> handful of payment processing companies.
I have trouble seeing how could the real-time anonymous payments market
can be cleanly separated from everything else. If trusted third parties
become the norm for that market, there will inevitably be a huge overlap
effect on other markets that bitcoin can serve best, even today. I
don't see how any currency, any cash, can concede this market.
📝 Original message:On 6/16/2014 8:48 AM, Mike Hearn wrote:
> In practice of course this is something payment processors like Bitpay
> and Coinbase will think about. Individual cafes etc who are just using
> mobile wallets won't be able to deal with this complexity: if we can't
> make native Bitcoin work well enough there, we're most likely to just
> lose that market or watch it become entirely centralised around a
> handful of payment processing companies.
I have trouble seeing how could the real-time anonymous payments market
can be cleanly separated from everything else. If trusted third parties
become the norm for that market, there will inevitably be a huge overlap
effect on other markets that bitcoin can serve best, even today. I
don't see how any currency, any cash, can concede this market.