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RE: ADSactly on ADSACTLY - Part #11

in #adsactly7 years ago

I am definitely not an expert on the subject so please correct me if I misspeak, but the blockchain is only anonymous if you go through a P2P network where the initial deposit or final withdrawal isn't done online. If either of these processes is done then it is possible for people(governments) to track to the group or individual making the transaction.

I know there are a few coins who try and make transactions completely anonymous but as far as I know right now, its still possible.

As to what you were saying with transferring and intermediaries, Bitcoin is still crazy expensive when it comes to transfersand I really don't understand why people haven't adopted quicker, cheaper options such as ripple. What's your take on it?

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Bitcoin is still crazy expensive when it comes to transfers and I really don't understand why people haven't adopted quicker, cheaper options such as ripple. What's your take on it?

People are still mainly using cryptocurrencies as a store of value instead of as a currency. The majority of people are trying to make money instead of trying to adopt the system that you and this article are talking about. This is why people stay with the slow, expensive coin that has already grown immensely instead of moving to other systems like you suggest.

We were talking about the mainstream fiat transfers through intermediaries. You misunderstood.
Bitcoin, as well as other decentralized systems, leave you an option, mainstream financial systems - don't.
Ripple, for example, is banking system supported coin. 65 banks support it. Do you like bankers?

I just mean that if you transfer your friend any amount of bitcoin the transfer fee is usually .001BTC or roughly $7USD. If you make the same transfer with ripple the transfer fee is a few cents. This seems like a no brainer to me, especially since its on almost all the major exchanges