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11 May 2013

Buying coffee via a series of tubes Money

When I was a small boy and needed clothes, my mother would take me to the Best's department store, where we'd pick something out, and then go to pay for it. The clerk would take the money and the slips, put them in a cylindrical container, and send them off with a whoosh through a pneumatic tube to somewhere upstairs. After a delay of what seemed to me to be about a week and a half, our change and receipt would whoosh back, and we could go.

Buying things with Bitcoin is a lot like that. It's really, really slow to use, like ten minutes to several hours per transaction. While there are workarounds to speed it up, they all break some of the aspects of Bitcoin that make it different from normal money.

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posted at: 23:09 :: permanent link to this entry :: 0 comments
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