So looking at the updated site, I see:
1) Peer-to-Peer transactions
Thats's nice, but so do Square Cash, Venmo, Paypal, etc... and they currently do it cheaper.
2) Borderless payments
How do we define borders? They're just arbitrary demarcation lines regulated by governments, so wouldn't the developing regulations in South Korea and China be creating borders for bitcoin?
3) Fraud Protection
Maybe someone can explain this to me. If any weird activity happens on my bank account, my bank contacts me and shuts down my card until I verify transactions. If I make a purchase with my CC and the seller is fraudulent, I can charge-back and have the CC deal with the seller. How does Bitcoin even come close to that level of fraud protection? I assume multi-sig is their way of defining "fraud protection"?
Is it the decentralization? Because isn't the bulk of the mining being done by large pools that can then be regulated and controlled by the governments of the countries in which they operate? I just checked the mining breakdown[0] and the two top mining pools (BTC.COM and AntPool) are owned by Bitmain[1], which is a Chinese company, and the next two (BTC.TOP and ViaBTC) also look they're controlled by Chinese companies. I'm not anti-chinese, but lets not pretend that companies operating in China aren't in some way beholden to their highly centralized and non-democratic government.
So what are, and have always been, the main benefits of bitcoin again?
[0] https://blockchain.info/pools
[1] https://en.bitcoin.it/wiki/Bitmain
1) Peer-to-Peer transactions
Thats's nice, but so do Square Cash, Venmo, Paypal, etc... and they currently do it cheaper.
2) Borderless payments
How do we define borders? They're just arbitrary demarcation lines regulated by governments, so wouldn't the developing regulations in South Korea and China be creating borders for bitcoin?
3) Fraud Protection
Maybe someone can explain this to me. If any weird activity happens on my bank account, my bank contacts me and shuts down my card until I verify transactions. If I make a purchase with my CC and the seller is fraudulent, I can charge-back and have the CC deal with the seller. How does Bitcoin even come close to that level of fraud protection? I assume multi-sig is their way of defining "fraud protection"?
Is it the decentralization? Because isn't the bulk of the mining being done by large pools that can then be regulated and controlled by the governments of the countries in which they operate? I just checked the mining breakdown[0] and the two top mining pools (BTC.COM and AntPool) are owned by Bitmain[1], which is a Chinese company, and the next two (BTC.TOP and ViaBTC) also look they're controlled by Chinese companies. I'm not anti-chinese, but lets not pretend that companies operating in China aren't in some way beholden to their highly centralized and non-democratic government.
So what are, and have always been, the main benefits of bitcoin again?
[0] https://blockchain.info/pools [1] https://en.bitcoin.it/wiki/Bitmain