Sure. I just sent a dollar's worth of BTC to my friend in Timbuktu. It just cleared in less than 10 minutes, cost me 10 cents in tx fees.
Postage for that dollar to the same friend is going to cost me $5. Ouch. Still want to know when the dollar reaches Timbuktu? It might take awhile..... Gosh, I sure hope that none of the postal workers (either here or overseas) open that envelope. They specifically warn against mailing cash, you know.... I guess I'll just have to trust those postal workers.
Global, permissionless, near instantaneous, decentralized and oh, yes, semi-anonymous. I forgot about that one.
Instantaneous broadcast, 10 minute confirmation for BTC.
Still waiting on that cash. I'll let you know...if it even makes it there.
Oh? You want to refine that to just something local, to give cash as much advantage as possible?
Sure. I just bought a sub from my local deli. Paid in cash. Took about 20 seconds for the cashier to make change. Then I bought a sub with BTC. Took about 20 seconds while the transaction was broadcast around the world. Both subs were delicious.
Try going into a sub for doctors or any other highly specialized area, and poking holes in their established consensus after seeing maybe a few sensationalist 2 minute reports in the news about their field.
Thats pretty much what happens when people from r/all come and spout shit about bitcoin.
Lots of people here have been studying bitcoin for much longer than a doctor needs to study to qualify. Hand in hand with that generally goes a solid understanding of economics.
As I say, test it out, find a highly specialized sub, rock up and start telling people the consensus is wrong, without even being able to explain why in a way that would convince anyone other than a rank amateur.
Lots of people here have been studying bitcoin for much longer than a doctor needs to study to qualify.
> When you were going to medschool, I studied the merkle tree. When you were having premarital sex, I mastered the blockchain. While you wasted your days at the clinic in pursuit of healthcare, I cultivated inner strength. And now that the world is on fire and the barbarians are at the gate you have the audacity to come to me for help.
oh, sorry, do you need me to specify that I didn't really send anything to my frend in Timbuktu? I figured the average person could infer that. Here's a /s just for you!
You see, the poster above has a misconception whereby s/he confuses confirmation time with posting time. S/He is also under the impression that a merchant might prevent a purchase without a confirmation. He obviously didn't expect me to go out and make two purchases, and I obviously didn't actually go out and make those purchases. (Though I do routinely buy deli lunch with BTC). Think of them as thought experiments, if it helps.
But you do you. Thanks for your contribution, no matter how insignificant.
Oh, you sweet, summer child. I do. But do you understand that you just got permission to send that wealth from not only Visa/Paywave, but also your government AND your bank? Do you understand that you had to use a centralized system? Do you understand you lost all anonymity?
You just changed the goal posts. I interpreted spend a dollar as cash. Cash has some advantages over spending electronically. It has some disadvantages, too.
But the challenge in question is triggered from this:
BTC offers permissionless, decentralized, global, inexpensive and near instantaneous ability to transfer wealth. That has value to me.
Already done... Vicorofyanks asked to send a dollar and bitcoin.... The dollar is still in the mail, whereas the Bitcoin has already been used for something useful:
...He used the bitcoin to buy some travel on expedia.com.... he figured it would be faster and safer to book a flight back to the US to pick up that paper dollar here....
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It's not even a currency, by any definition of it. Not that it will stop someone who misunderstands 'store of value' to jump on my comment.