Since Bitcoin (BTC) garnered some semblance of traction, it has been touted as a viable alternative to traditional digital payment rails, like Visa, Mastercard, or PayPal. As ShapeShift Erik Voorhees said in a recent interview, BTC, unlike centralized digital monies, is free to use (accessible), borderless, and uncensorable — arguably making it a perfect substitute.
But one leading thinker and programmer in the industry has begged to differ. He claims that the crypto does (and shouldn’t) compete with global payment infrastructures. Is this really a logical argument though?