In rxJava2, there is a difference between Observables (no backpressure) and Flowables (reverse). https://github.com/ReactiveX/RxJava/wiki/What's-different-in-2.0#when-to-use-observable gives some reasons for using observable data, but, as far as I can see, the functionality of observables is a subset of the flow indicators.
Is there a reason not to always use threads? Perhaps observed faster? Or can you do things with observables that you cannot do with current ones?
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