A. Fast payment. Customers are not willing to wait for more than 10-15 seconds for payment processing.
B. Value stability. After looking at the menu and ordering a steak dinner, customers cannot be expected to pay 10% more due to market instability when they are done eating.
C. Decentralization. The payment system should not be controlled and potentially manipulated by a bunch of people.
D. Scalability. Preferably scalable to Visa dimensions..
E. Easy of use. A grandma should be able to use it without a computer science course.
Currently everything available on the market fails on at least three of these five properties.
Bitcoin fails at A, B, arguably at C (huge block chain size, Chinese miners behind a slow firewall controlling a large portion of it), D (7 TX / sec) and arguably at E.
fiat
A. 3-5 business days. for wire transfers, cheques and even paypal withdraws
D. comparing Visa worldwide is a failure of understanding visa.. dd you know that Visa has not 1 ledger.. but multiple ledgers. and the statistics of world transactions is based on the combined sum of all their ledgers.. on that note. i wish to combine bitcoins ledger to represent visa USA, litecoin to represent VISA europe, feathercoin to represent Visa UK. and a dozen other altcoins to represent the other dozen Visa ledgers.. and then lets combine the total transactions per second of cryptocurrency as a whole
now lets talk about this topics theory..
A. lets delay day trading instand trades because the emunie exchange has to find order matches to stay within the 10% preference. and delay some trades if they look like pumps/dumps
B. lets have a small value change per day, killing off day traders and ultimately alot of bitcoins free market spirit.
C.. lol so the solution to decentralization is to take away the dozen open markets and replace it with 1 market that has hard code to control trades...
D. if emunie is the only exchange, scalability wont be a problem. bitcoins free market utility and choice would die and so people would stick to fiat.
E. maybe emunie can make a easy use wallet. but desire to use bitcoin wont be there as its no longer better than fiat