This guy clearly read nothing about how Bitcoin works if he thought any of this was even remotely true. I think this highlights how prevalent misinformation is in the rhetoric around...
The 23-year-old Salvadoran, who runs a shoe store with his family in the tourist town of Concepción de Ataco, was looking forward to trying out the technology. He’d heard that it would reduce costs and speed up payments.
This guy clearly read nothing about how Bitcoin works if he thought any of this was even remotely true. I think this highlights how prevalent misinformation is in the rhetoric around cryptocurrencies.
One day, he lost a $25 transaction from a customer to technical issues and never heard back from the digital wallet’s customer service team.
I'm not sure there is much a customer support agent could even really do in this case. One of the *ahem* "benefits" of cryptocurrencies is that transactions on a blockchain cannot be undone.
This all just reaffirms my belief that these aren't viable as currencies. They do not make sense as a substitute for money. People have successfully used them as a value store, and even there the utility seems limited to speculative investment driven by people who still think Bitcoin could somehow replace traditional currency.
Blockchains are still a really cool technical solution in search of a problem that hasn't been solved better by something else.
This guy clearly read nothing about how Bitcoin works if he thought any of this was even remotely true. I think this highlights how prevalent misinformation is in the rhetoric around cryptocurrencies.
I'm not sure there is much a customer support agent could even really do in this case. One of the *ahem* "benefits" of cryptocurrencies is that transactions on a blockchain cannot be undone.
This all just reaffirms my belief that these aren't viable as currencies. They do not make sense as a substitute for money. People have successfully used them as a value store, and even there the utility seems limited to speculative investment driven by people who still think Bitcoin could somehow replace traditional currency.
Blockchains are still a really cool technical solution in search of a problem that hasn't been solved better by something else.
See also: Do You Need a Blockchain? (spoiler: almost certainly no)
They're an interesting side-branch for stocks, at best.