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slightlylate's profile
Alex Russell
Alex Russell
Alex Russell
@slightlylate

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Alex Russell

@slightlylate

Chrome Project 🐡 & Web Standards TL; Blink API OWNER Named PWAs w/ @phae; probably making her ☕ DMs open. Tweets my own; press@google.com for official comms.

San Francisco, The Internet
infrequently.org
Joined December 2010

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    1. Aaron Boodman‏ @aboodman 1 Dec 2017
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      By "Bitcoin" here I mean "the idea of cryptocurrency, generally" not Bitcoin itself or any other specific implementation.

      1 reply 0 retweets 2 likes
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    2. Aaron Boodman‏ @aboodman 1 Dec 2017
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      Why is this valuable? Well, at one level, it just feels like the right thing, just like any other refactoring. But it also enables money to compete separately from nationality. This has the most obvious potential in places where money currently sucks (e.g., Venezuela).

      2 replies 0 retweets 1 like
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    3. Alex Russell‏ @slightlylate 1 Dec 2017
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      Replying to @aboodman

      This is the most contingent claim for a medium of exchange...that you can exchange it? Were forex markets somehow not functional?

      1 reply 0 retweets 1 like
    4. Aaron Boodman‏ @aboodman 1 Dec 2017
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      Replying to @slightlylate

      I mean they "work" in the same sense that taxis "work" in SF. Technically, yes. In practice, no. I once tried to buy Euros and hold them in a bank outside the US, the best I could ever get done was to buy shares in an ETF.

      1 reply 0 retweets 0 likes
    5. Aaron Boodman‏ @aboodman 1 Dec 2017
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      Replying to @aboodman @slightlylate

      Maybe I'm dumb, but I think that in practice holding and using foreign currency is hard enough for most people to be not practical.

      1 reply 0 retweets 0 likes
    6. Alex Russell‏ @slightlylate 1 Dec 2017
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      Replying to @aboodman

      I find that the difficulty and relative cost of moving (even large) sums between countries is vastly overstated by crypto-currency advocates.

      2 replies 0 retweets 0 likes
    7. Aaron Boodman‏ @aboodman 1 Dec 2017
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      Replying to @slightlylate

      Perhaps this is influenced by the fact that you lived in the UK for a time? I tried to do this (as did several colleagues of mine) and did not succeed.

      2 replies 0 retweets 0 likes
    8. Alex Russell‏ @slightlylate 1 Dec 2017
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      Replying to @aboodman

      Western Union didn't work?

      1 reply 0 retweets 0 likes
    9. Aaron Boodman‏ @aboodman 1 Dec 2017
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      Replying to @slightlylate

      Western Union to what? Step one is establishing a bank account. I couldn't do that. There are two use cases: sending money to some entity that exists in another country, and getting own money out of US. I want to do 2. Agree 1 is relatively easy (but could be even easier)

      1 reply 0 retweets 0 likes
    10. Aaron Boodman‏ @aboodman 1 Dec 2017
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      Replying to @aboodman @slightlylate

      @chamath has a great talk about 2 - https://www.youtube.com/watch?v=NV5ubkGQUes …. Western Union works, but could still be far better. Fees are high, and using Western Union in many places is physically dangerous.

      1 reply 0 retweets 0 likes
      Alex Russell‏ @slightlylate 1 Dec 2017
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      Replying to @aboodman @chamath

      Fees aren't high compared to crypto-currencies. In fact, there's basically zero evidence that "lower-cost" (but higher volatility) options shift market participant behavior.

      9:50 AM - 1 Dec 2017
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        2. Aaron Boodman‏ @aboodman 1 Dec 2017
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          Replying to @slightlylate @chamath

          1) BCH is still lower fee than Western Union currently. 2) Irrelevant because we're talking about potential people like myself see, not current state.

          1 reply 0 retweets 0 likes
        3. Alex Russell‏ @slightlylate 1 Dec 2017
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          Replying to @aboodman @chamath

          It's not lower fee. It only looks that way if you ignore all volatility. Perhaps there's a future's contract for BTC that could be written that would be lower fee; I'm not aware of one.

          1 reply 0 retweets 0 likes
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