<story><title>Bitcoin.org removes “fast” and “low fees” from Bitcoin description page</title><url>https://github.com/bitcoin-dot-org/bitcoin.org/pull/2010/files</url></story><parent_chain><item><author>theseatoms</author><text>The long-term value will be in the ability to send censorship-proof funds anywhere there&amp;#x27;s an internet connection. The Lightning Network (yet to be deployed in production) is supposedly going to reduce transaction fees and confirmation times.&lt;p&gt;&amp;gt;but isn&amp;#x27;t centralized wallets&amp;#x2F;exchanges like coinbase defeating the entire purpose of crypto currency&lt;p&gt;This is true. This is my biggest problem with the current ecosystem. If history is any guide, they&amp;#x27;ll eventually suffer from some sort of scandal and&amp;#x2F;or run that drives customers to a superior competitor. This only kicks the can, I realize, and is far from the original vision. But at least each centralized service learns from the costly mistakes of previous ones.</text></item><item><author>codegeek</author><text>I am still struggling to understand the whole crypto currency thing. I just don&amp;#x27;t get it. Clearly, it has become a tool for speculation and quick money for most people. Everyone is trying to get on the crypto bandwagon but to speculate. What is the point ? I thought it was supposed to decentralize currency and make it easy to &amp;quot;transact&amp;quot; with low fees and less redtape. Also I could be really dumb but isn&amp;#x27;t centralized wallets&amp;#x2F;exchanges like coinbase defeating the entire purpose of crypto currency ? Weren&amp;#x27;t we supposed to manage it peer to peer so that anyone could get paid anytime without worrying about borders and boundaries ?</text></item></parent_chain><comment><author>slivym</author><text>I don&amp;#x27;t understand how this holds true though, because to actually send someone money you need to actually... get them the money. A great counter-example of this is that the exchanges in Zimbabwe were trading at a 100% premium when you actually wanted to settle a transaction in cash.&lt;p&gt;So whilst you can transfer money censorship free, you and the recipient need to then handle the transfer into and out of crypto which seems to be in many cases more difficult than actually transferring money other ways.&lt;p&gt;Not to mention the fact that that purpose is an astonishingly niche thing to want to do - at least in first world countries.&lt;p&gt;Are you suggesting crypto has no long-term value in the west?</text></comment>
<story><title>Bitcoin.org removes “fast” and “low fees” from Bitcoin description page</title><url>https://github.com/bitcoin-dot-org/bitcoin.org/pull/2010/files</url></story><parent_chain><item><author>theseatoms</author><text>The long-term value will be in the ability to send censorship-proof funds anywhere there&amp;#x27;s an internet connection. The Lightning Network (yet to be deployed in production) is supposedly going to reduce transaction fees and confirmation times.&lt;p&gt;&amp;gt;but isn&amp;#x27;t centralized wallets&amp;#x2F;exchanges like coinbase defeating the entire purpose of crypto currency&lt;p&gt;This is true. This is my biggest problem with the current ecosystem. If history is any guide, they&amp;#x27;ll eventually suffer from some sort of scandal and&amp;#x2F;or run that drives customers to a superior competitor. This only kicks the can, I realize, and is far from the original vision. But at least each centralized service learns from the costly mistakes of previous ones.</text></item><item><author>codegeek</author><text>I am still struggling to understand the whole crypto currency thing. I just don&amp;#x27;t get it. Clearly, it has become a tool for speculation and quick money for most people. Everyone is trying to get on the crypto bandwagon but to speculate. What is the point ? I thought it was supposed to decentralize currency and make it easy to &amp;quot;transact&amp;quot; with low fees and less redtape. Also I could be really dumb but isn&amp;#x27;t centralized wallets&amp;#x2F;exchanges like coinbase defeating the entire purpose of crypto currency ? Weren&amp;#x27;t we supposed to manage it peer to peer so that anyone could get paid anytime without worrying about borders and boundaries ?</text></item></parent_chain><comment><author>schmidty</author><text>There are 100 lightning nodes running in production currently.</text></comment>