Bitcoin
Out of context: Reply #558
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- ukit20
Anonymous does not necessarily mean untrusted. Since every transaction is recorded into the blockchain, it's verifiable and the decentralized aspect shouldn't create a problem. There's no way to really "cheat the system" and spend BTC you don't have.
My question is what would get it to the point of being used on a mass scale. There's nothing right now to entice consumers into using it aside from the novelty factor of a digital currency. For businesses, it means setting up a new payment system and figuring out how to use it.
Imagine trying to pay for a meal at a restaurant using BTC. No one is going to want to login to your Coinbase account and enter the entire hash code when you can just swipe a debit card. You would need some kind of app on your smartphone that allows you pay with a single click (maybe by scanning a QR code provided by the business), then the business would need to verify on their end. Lots of effort just to say that you used Bitcoin.
- Yeah, It's not anonymous...CableStudios
- It could be if you cover your tracks well enough. Create an account using anonymous email, buy from someone on Local Bitcoins using cash.ukit2
- Local Bitcoins using cash. Not worth it for most people though.ukit2
- there are several of those apps already, and square will be supporting btc soon. nobody's typing blockchainsscarabin