But yes, while there is a place for digital money that doesn’t equal cryptocurrency. For instance, I haven’t held physical legal tender in my hands in ages. All my purchases go through online banking systems (via credit cards or my bank’s web ui) and I don’t even remember what my local bank notes look like anymore.
The big difference is that established banking system (which I have my own reservations about) have checks, failsafes and customer securities to ensure that when the next crash comes, we have some chance to recover our losses.
Those checks and fail-safes have value but come at a cost. Middlemen want their cut. So it doesn’t make sense to have micro transactions online, so there is a gap in the market for quick low cost low value payments.
Oh, Monero is what you’re
sellingshilling?But yes, while there is a place for digital money that doesn’t equal cryptocurrency. For instance, I haven’t held physical legal tender in my hands in ages. All my purchases go through online banking systems (via credit cards or my bank’s web ui) and I don’t even remember what my local bank notes look like anymore.
The big difference is that established banking system (which I have my own reservations about) have checks, failsafes and customer securities to ensure that when the next crash comes, we have some chance to recover our losses.
No need to insult me.
Those checks and fail-safes have value but come at a cost. Middlemen want their cut. So it doesn’t make sense to have micro transactions online, so there is a gap in the market for quick low cost low value payments.