Quote from: newb4now on September 05, 2015, 01:40:36 AM

Quote from: ArticMine on September 05, 2015, 01:35:19 AM

Quote from: smooth on September 05, 2015, 01:19:41 AM

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The bigger question behind all this in my mind is whether crypto actually solves any useful problem that anyone cares about.
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Very simple. Show me a poor, homeless person, that accepts credit or debit cards. In person cash works but over the Internet, across international borders? Crypto currencies solve this very simple problem.

I was also going to answer the unbanked. No need to be homeless. In many countries bank accounts are rare. In some countries where bank accounts are more common, fees are very high and there are lots of restrictions on international transfers.

https://en.wikipedia.org/wiki/M-Pesa
M-Pesa is huge, but run by the phone company and with much higher fees than bitcoin. There is demand for crypto!

M-Pesa is actualy an exception but only works in Kenya. On a bus between Kenya and Tanzania it fails. There is a different incompatible M-Pesa in Tanzania. The market is huge as most of the world's population is poor. Fees are critical here. If it costs $12 for someone in Canada to pay $70 to someone is Kenya that is fail. I witnessed this at the local post office. Crypto can solve this problem.