Re: [Research] Clearance Comparison - Cryptocurrencies vs Credit Cards

Quote from: lepar on June 19, 2018, 01:29:50 AM

Hi,

I'm not here to promote myself but rather share a research I did in college regarding the clearance and operational process of cryptocurrencies and credit cards. It's a case analysis for the various situations that involves the movement of money in everyday operations.

https://www.linkedin.com/pulse/clearance-comparison-between-credit-cards-nicholas-leonardi/?lipi=urn%3Ali%3Apage%3Ad_flagship3_profile_view_base_post_details%3B3jj3x2ZaSae%2Be3lIkRY7Ow%3D%3D

I apologize if it's the wrong section and I'll be happy to move to it to a more appropriate one if there is.

It's an extensive 30 page research where I explain the structure of both payment systems and then do a case analysis on the aspects of security, cost and efficiency.

Criticize as much as possible, I'd love to hear your points of view whether you agree or disagree on certain aspects.

Hello there,
I admire your effort put into this.
First of all,I do not agree on the efficiency of cryptocurrency especially Bitcoin.Credit cards,in this case Visa do process 2k tx/sec while Bitcoin 3tx/sec,that's a huge difference.So yeah I think Bitcoin is really not efficient in terms of transacting.
Second,I don't think that crypto are more secure than credit cards or credit cards are more secure than crypto.Simply because both of them depend on the user's awareness of security.If you purchase from shady websites online with credit cards you should expect get hacked nope?If you let your private keys/seed unsecure same thing would happen.So yeah,it's users responsability.The difference is that banks have always a team that 24/7 monitor the transactions.So in case there is fraudulant transaction they block the card or you call them to do so,while in crypto if you are stole,it's gone forever.
Regards