great interview with amir

(also a member of this group)

https://bitcoinmagazine.com/17005/bitcoin-technology-worth-nothing-interview-dark-wallet-front-man-amir-taaki/

[snippet]

*You don’t really see Bitcoin as a payments-innovation, do you?*

No, it’s not very good for that. The Bitcoin-network is currently
subsidized through inflation, meaning transactions cost about thirty
dollars each. This vision of Bitcoin as a faster, cheaper and better
payments-network is simply not tied to any technological grounding of what
Bitcoin is really about. If we want to make Bitcoin a competitor to Visa or
MasterCard, we would need to increase the blocksize and centralize mining
so much that it is basically the same as existing payments networks. And
even then, at some point, we’ll reach a limit where Bitcoin is just not
cost-efficient. We don’t need to have all these miners crunching numbers
just so people can buy a coffee. That’s insane.

Received on Saturday, 27 June 2015 10:35:20 UTC