People Twitter

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None. Suffer. (lemmy.world)

submitted 1 month ago by Stamets to c/[email protected]

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[–] [email protected] 1 points 1 month ago (1 children)

So, instead of my bank sending money to your bank, I use my bank to send money to a bitcoin broker, then I send the bitcoin, and then their broker sends money to their bank, adding two more middlemen.

[–] [email protected] 1 points 1 month ago (1 children)

You've got it backwards. Instead of sending bitcoin to an exchange, selling it for dollars, doing a bank transfer, and then the recipient buying bitcoin, you can just send bitcoin from one person to another.

[–] [email protected] 1 points 1 month ago

You should read my comment again, that's not what I said.

I said that in order to send money through the blockchain, it takes more middlemen than just sending money via other systems.