“The internet is just a fad” … Newsweek, Feb. 26, 1995
I grant you, just like with the Internet there is a transition point where to get on the internet you have to pay high fees (similar to exchange fees) but once internet is cheap and everywhere then lots of services become cheaper and more accessible.
The same goes on with bitcoin. As adoption grows you won't need to exchange for USD, EUR or whatever as much, therefore no exchange fees.
Banks will have to adapt, re-purpose themselves to a certain extend.
Heh no I believe in the utility of the tech, my gripe is just with the implementation details. I agree with what you're saying here there is a lot of possibility here. Checkout Ripple (another responder pointed me to it). It's basically exactly what I was saying I was hoping for (I think, have to read it over more carefully).
I grant you, just like with the Internet there is a transition point where to get on the internet you have to pay high fees (similar to exchange fees) but once internet is cheap and everywhere then lots of services become cheaper and more accessible.
The same goes on with bitcoin. As adoption grows you won't need to exchange for USD, EUR or whatever as much, therefore no exchange fees.
Banks will have to adapt, re-purpose themselves to a certain extend.