Quote:
Originally Posted by cstreit
Transaction fees to move in an out of secure wallets are the biggest sticking point, I grant you that.
...but folding cash in online vaults dont cost lthat. I pay 2.50 to get cash out of the atm but $1.00 to make a Btc transaction out of my coinbase account.
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Right, I get that, but Coinbase is to Bitcoin as PayPal is to dollars and Euros. When you send someone funds with PayPal, they don't actually transfer dollars or Euros - the reconcile internally - just like Coinbase does. I.E Coinbase is extremely similar to PayPal? I'm just curious, if holding Bitcoin in something like Coinbase, how is that different than holding US dollars or Euros in a PayPal account? The only advantage/difference I can see is that one capitalizes on the speculative appreciation of the crypto currency? Nothing wrong with that and all the power to people risking and investing in it - if they succeed, then I'm happy for them - that is what makes capitalism great. But, then all of the discussion about how Bitcoin is the next best thing and all of its built-in advantages - those seem to be negated by the fact that Coinbase is used as an intermediary?
Don't know. Again, I think the future holds something more advanced than Bitcoin 1.0.0.
-Wayne