Why Bitcoin Will Win

Ok, now this is stupid.

I needed to do a transfer from the UK to the US and they told me it will take 2 to 3 days. I thought long and hard about it and I told myself that it was bullshit. Especially when the value was all accessible via the Internet on both sides of the pond.

I then had to send money from my “UK PayPal account” which is tied to my Natwest Debit Card and sent the money to my “US Paypal account” tied to a Mastercard.

The transfer was instant and the cost was less than what Barclays would have charged me to send money to Wells Fargo and what Wells Fargo would have also deducted for receiving a wire transfer.

Yet people keep saying that Bitcoin will not gain massive adoption? This is the type of bullshit that Bitcoin is going to eliminate.

This is not yet the PayPal post I am writing. That one is coming. Africans must not get sucked into the banking money transfer farce. Sadly our techies are not yet smart enough to work together to tame the beast.

Everyone thinks that they are the next Bill Gates or Mark Zuckerberg but they forget that there was also a Peter Thiel who is also very wealthy that helped Zuck and others be who they are today.

Now where are these Kitiwa guys?….


Yes, the bullshit needs to be eliminated but it is not Bitcoin that will do it. Bitcoin is still far too techie and as a digital currency it fails one of the basic tests : acceptability. And while we are on the subject Bitcoin probably fails at least 2 or 3 other characteristics of money. In short, Bitcoin needs to grow up first. Maybe in another 10 years it could be a contender...
One year later, Transfer Wise seems to have eliminated the bullshit as well
What about Transferwise? They are excellent for transfers and very cheap. Still not available in Africa though!
I use Transferwise and I like it, but yet it doesn't work in Africa and in Asia.
I’ve read a lot of your content, very insightful and I agree with a lot of it. But bitcoin is doomed to fail imo. The real value in BC is BlockChain, the very idea of Crypto is that it’s vendorless, decentralised and immutable, for that to be true the value of a coin or any measurable unit of value there needs to be stability and choice. IMO, countries as banks are not going to let Bitcoin take over their currency and it will always be doomed to investors shorting it and betting on it. Also the fact that there is a finite number of them means that somebody could potentially take control of their value by owning over 50%. (Don’t sell - value rises, dump - value drops). No, blockchain is the key. Once this becomes a common database then we can it doesn’t matter who you bank with, instant, secure transfer of tender 😊

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