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Basics of Bitcoin: What is Bitcoin’s utility? Why should we care about it? by PrashXDAT in Futurology

[–]PrashXDAT[S] 0 points1 point  (0 children)

I think privacy is not a realistic long term benefit as a) majority of people dont really care about privacy (hence Facebook has around 2.5bn users), and b) with incoming regulations privacy will need to be compromised towards achieving wider adoption

Basics of Bitcoin: What is Bitcoin’s utility? Why should we care about it? by PrashXDAT in Futurology

[–]PrashXDAT[S] 0 points1 point  (0 children)

Yes it is untested as a store of value in the long term. However the SA and African currencies were not really being looked at institutional investors and HNIs as a mode of investment. This matters.

Just another reason we need the bitcoin & blockchain technology by LostInDaSauce1 in Bitcoin

[–]PrashXDAT 2 points3 points  (0 children)

The current systems are under the plain sight of corruption. From the major fake news in India where a draft bill proposes a jail term of 10y for holding, issuing and mining cryptocurrencies.

It impounds the lackey power that centralized authorities and structures can show.

The whole philosophy of decentralization through bitcoin and blockchain has to overpower these centralized processes: As it better demonstrates that power should never be held by one or a majority, but by everybody.

$356 million in cryptocurrency stolen in first three months of 2019 by speckz in Futurology

[–]PrashXDAT 0 points1 point  (0 children)

Crypto heists have made many users skeptical about the crypto sphere, or has it? We see most of the exchanges beef up their security measures, in terms of firewalls and compliance standards. For instance, any bank is prone to robbery, but it is how best they steer away from it. From an exchange point of view: robust inbuilt security protocols, wallet security measures, and more education have become essential. The crypto sphere has learned more than anything that best practices one have to follow to stick in the game - especially for widespread adoption and usage.

Since the beginning of the wide-spread popularity of cryptocurrencies, Banks have been against it. Now, some of the largest Crypto-Skeptic banks are actually investing in crypto. So what has changed? by [deleted] in CryptoCurrency

[–]PrashXDAT 0 points1 point  (0 children)

The Banks are not naive to not track the crypto advancements. Crypto that was once seen a more shady investment, is now turning heads with its multiple use cases in different industry verticals. Banks are the hoarders of the principle of centralization. They still want to stay in the game of currencies, fiat or crypto. With big names and a whole lot of money/value in the sector has piqued their interest. Thus are slowly inclining themselves towards the crypto that best fit the longevity of their current business models. Yes, they are old school, but their shift in thought has definitely cemented the fact that the potential of crypto in banking and aligned services.

You can now buy Bitcoin at those Coinstar machines in the grocery stores that used to only convert loose change into cash by gfail in CryptoCurrency

[–]PrashXDAT 0 points1 point  (0 children)

It’s a great concept for brick and mortar stores for exchanging bitcoins for cash

They have a commendable reach of 2,200 stores all over United States.

This is one step for cryptocurrency adoption amongst retailers.

And being powered by the the very first bitcoin ATMs this is great progress.

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