Why the payment card system works the way it does and why Bitcoin isn’t going to replace it any time soon: http://gendal.wordpress.com/2014/07/05/why-the-payment-card-system-works-the-way-it-does-and-why-bitcoin-isnt-going-to-replace-it-any-time-soon/ …
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@bascule But you think current credit cards system will still be around in 30 years? -
@stevedekorte I would not be surprised if we still use something card-like to make payments. The technology may change a lot -
@bascule Does "card-like" exclude cryptocurrencies? -
@stevedekorte it seems the existing payment card network is disincentivized from supporting cryptocurrencies, so probably -
@bascule So your prediction is no serious adoption of cryptocurrencies in next 30 years? -
@stevedekorte a vague question that's hard to answer without more specifics on "cryptocurrency", e.g. does Ripple count? -
@bascule I suppose. It's certainly outside the fiat banking system which credit cards exist in. -
@stevedekorte what if the value were pinned to dollars? - 2 more replies
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