Re: What happens if everyone starts using Xapo for Bitcoin transactions?
Hi All
I had this question (probably stupid) regarding Bitcoin transactions. As you might know Xapo to Xapo or basically same Bitcoin wallet to same wallet transactions are free and off chain. So what happens if everyone uses just 1 wallet for the transactions among them. I know this case is not possible practically, but just think about it in theory. If this happens, then will Bitcoin mining become non-existent? I know I am missing out something, but just not able to get it.
I had this question (probably stupid) regarding Bitcoin transactions. As you might know Xapo to Xapo or basically same Bitcoin wallet to same wallet transactions are free and off chain. So what happens if everyone uses just 1 wallet for the transactions among them. I know this case is not possible practically, but just think about it in theory. If this happens, then will Bitcoin mining become non-existent? I know I am missing out something, but just not able to get it.
This is the type of scenario that we are trying to avoid. Xapo is a centralized service. What does this mean to you? Well,
centralized services are being targeted by governments and they are also being forced to do what these governments wants
them to do. If the US government wants to stop donations to Wikileaks for instance, then they can persuade or coerce Banks
and PayPal {centralized entities} not to allow transactions to these organizations. We do not want that. These centralized
services are soft targets for governments and they can be taken down.
