> "Fast and cheap payments" have been fixed using regular fiat and banking servi... | Hacker News

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fsflover 11 months ago | parent | context | favorite | on: Bitcoin passes $120k milestone as US Congress read...

> "Fast and cheap payments" have been fixed using regular fiat and banking services. I daily transfer and pay for stuff without any charges.

Could it be that bitcoin forced banks to compete?

xnorswap 11 months ago [–]

No, because the systems pre-date bitcoin.

Chip & Pin launched in 2003

Contactless payments launched 2007. ( Yes, these pre-date Apple Pay, etc, by quite a long time )

Faster Payments System launched 2008 ( After a decade of planning )

Bitcoin launched 2009.

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