<br> You will receive a confirmed Binance account within 30 Minutes of making your payment. 30:55 George Selgin: Yes, one thing that’s I think ironic about this development is that the more central banks move in the direction of getting rid of ordinary cash, paper money, into digitization of their currencies the more demand I think there will ultimately be for Bitcoin and other cryptocurrencies. As it has been mentioned above if you are offering Bitcoin products and services, and at the same time, reaching out consumers from any corner of the world, Bitcoin advertising is the thing you should get into. This is a program within Bitcoin, or an initiative within Bitcoin, to try and take some transactions, small dollar, so to speak, small Bitcoin transactions out of the main ledger, so that it becomes less computationally intensive to process. So Venmo right now, could presumably, if they decided they wanted to just go straight to Bitcoin use and bypass settling out to dollars, it would enable them to send money to, say, sdfw2ef2.tistory.com Square Cash clients or PayPal clients, like interoperability becomes very easy<br>>
<br>> This is when businesses that operate globally want to pay employees in India using money from the US, JP Morgan because it’s so large will say, “We have a universal account for you. The first case is the observation that the next hop in the route will receive its own routing fee paid by the spender if the payment succeeds. It is a small advantage but I think these subtle incentives actually matter especially with fee markets rising. 37:43 Diego Zuluaga: I don’t think… 36:52 Diego Zuluaga: I think what you are raising there, which is an important question in all of this, is how much disintermediation can make things better, more attractive for the average user. Or you can build things like tokenized rewards in your… They build on it and they improve it, but they don’t entirely dispense with it. But instead, if I want to build an app that can send and receive Bitcoin or any other crypto, it’s done with just open-source code that I can grab and I can install and my app <br> <br>
But it’s also much less flexible than we’re often led to believe, in terms of the computational capacity of the Lightning Network, in terms of the flexibility of borrowing from one of the parties, those sorts of things. 31:41 Aaron Ross Powell: Going back to the underlying tech, as institutions start to adopt blockchain and the tokens that go along with it and using those as a way to, say, settle accounts because it’s more secure, it’s more efficient, or it has advantages, and so behind the scenes a lot of our cash transactions or digital cash transactions, swiping our credit cards or paying with debit cards or whatever, end up being, happening via tokens that aren’t dollars, getting passed around to other countries and things, does that walk us in the direction of at some point just kind of saying, “Well, if we’re really using the tokens behind the scenes we might as just as well be using the tokens up front and embracing them,” or does increasingly moving into digital applications for our payments, so everyone pays each other in Venmo instead of using cash, that that those sorts of applications, Venmo could at any time drop in a Bitcoin module, just like Square Cash lets you transact suddenly just decided now you can transact in Bitcoin, and so the switching costs beco<br> <br> less.
35:21 Aaron Ross Powell: And so from a developer standpoint, it’s simply just very easy to use, and I can settle up accounts and I can send this stuff without any intermediaries. 33:19 Aaron Ross Powell: Okay. 34:41 Aaron Ross Powell: Let me ask a similar question, but coming at it from kind of a different direction. 33:00 Aaron Ross Powell: Whereas five years ago if you wanted to use Bitcoin instead of cash it was this very arduous process. 36:05 Aaron Ross Powell: And they’ve talked about integrating. You don’t have to take all of Bitcoin to benefit from some of its innovations and the idea behind it. One criticism that people used to make about Bitcoin, because it has no commodity value, is that anyone could take the Bitcoin code, replicate it, and then run a new network that was exactly the same, much more cheaply, because the tokens were newly minted, and you didn’t have to buy them on the open market, so to speak. This is, of course, a few things coming together, but I do think that the role of intermediaries, be it in the form of an exchange or some sort of payments process, or someone like that who will bear the risk, not just of fluctuations to the dollar, but payments security, reversing transactions if they’re fraudulent or false or mistaken, will have to take place for it to be <br> widely adopted.