Quote from: hatshepsut93 on July 19, 2019, 06:43:54 PM

Quote from: Sailor11 on July 19, 2019, 05:52:49 PM

What do you think the world needs?
Digital gold or a fast and secure digital currency?

Of course it needs digital gold, we already have fast and secure digital currency - we have Visa and Mastercard, we have PayPal and Venmo. In most countries using payment cards for daily purchases is very comfortable - fees are low or even zero, confirmations are instant, buyers are protected from fraud and in many cases can get their money back. What the world didn't have before Bitcoin is a digital store of value that can't be seized by the government, can't be frozen by banks, can't be stopped by laws and regulations.

You are making sense. Most of the comments do also. I'm trying not to be adamantant on most of my positions thats why I asked and I read each and every answer carefully. This is my current position but perhaps I will be more flexible if this is discussed in a convincing manner. I have to thank the bitcointalk community for their insight as usual. There are a lot of really intelligent people on this forum.

My job for around 5 years was to observe rejected transactions through a lot of banking systems, POS and E-commerce made with Visa, Mastercard, AMEX and a few more ways of payments. You can't imagine how many problems exist, especially for overseas transactions (US to EU mostly and the opposite). There is not just one centralized system that has to process a transaction, but usually three or four. On any of these systems there are variables that might cause a transaction to fail. Most of these variables are unknown to the card holder and to the merchant. Quite a few doesn't even have to do with them but with the card options. So in order for a transaction to proceed you have to put trust to your Bank, your card (Visa/Master), the outside companies that processed the details in their database, the merchants bank and it goes on. All these are based in centralized servers. One server goes down (and they go down very often) and you get rejections. One data would be entered wrong and you might not be able to buy tickets at the airdrop you were making vacations. These are real problems that are not rare.
So the first thing the world needed and Bitcoin provided was this. Cancel the middle man. Noone needs to trust a bank or outside processing companies. You just trust yourself, the tech and cut the middle man.
What was actually needed was this model. It was close to flawless and at least a few thousand of people realized it immediately.
Paypal was a revolution as well. Still it has many problems, like limits and refunds, that are probably unsolvable.

My point is that Facebook with Libra, is actually stealing the hard work that was invested for Bitcoin to become the absolute means of transactions. What was needed so the whole world would adopt it was low fees (as it used to have for a while) and instant transactions. I say it looks stagnant because the Lightning Network doesn't seem to be a priority. Also there are many doubts if LN can work the way it is supposed to. I believe there should be more effort made in this subject.

Sailor11

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