Hacker News Reader

With more and more negative interest rates, or attempts to lock down on how money is used (total removal of cash for example) on the horizon I think governments are quite right to fear bitcoins or any other currency that would let people get out of the attempts to "walled garden" finances

View on HN

I think this is probably correct, actually.

That and the mass adoption of cheap, handheld, and powerful computers with easy user interfaces and lots of short range wireless peripherals...

Imagine being able to pay your bar/coffee/restaurant/hotel tab with NFC or something, exchanging whatever virtual currency units, as an expected social norm.

I can already do that with my contactless debit card. That's not an advantage of Bitcoin.

The point isn't the just the payment mechanism but the network it connects back to plus the payment mechanism.

[edit] to clarify: if vendors actually accepted (something like) bitcoin at restaurants or wherever, this would cut out the banking middle man entirely. Also we already collectively have the tech to do this now.

These vendors still need to access fiat currencies to pay wages, rents, taxes, suppliers, etc. Until workers, landlords, governments, and suppliers begin accepting BTC, there's no incentive for vendors to take on the risks of accepting BTC.

Reply on news.ycombinator.com