this post was submitted on 13 Aug 2023
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Crypto is 100% a bubble. It's not an investment so much as a ponzi, sure you can dump money into it and maybe even make money, doesn't mean it doesn't collapse on a whim when someone else decides to dip out or the government shuts it down. Its value is exactly that of NFT's because it's basically identical, just a string of characters showing "ownership" of something intangible
Whatever man, used electricity will become valuable someday, I just know it.
Being able to pay for things anonymously is very valuable to me and to many other people. That's just one example of what this technology can be used for.
Bitcoin isn't anonymous yet it's the most valuable crypto. Monero is barely used. Most crypto people just want to get rich, they don't actually care about using it.
100% a bubble
I could go to the local ATM and buy Bitcoin anonymously right now. So, unlike a credit card, it can be used anonymously. Monero is better of course and it doesn't matter how many people use it. Even if a store doesn't accept it directly, you can use it to buy gift cards for any store.
I don't care what most crypto people do, it's irrelevant, just like the price is irrelevant and doesn't affect my ability to use this technology.
The ATM has a transaction time and your bitcoin transaction record. There are enough cameras in the cities near ATMs (for this very reason) that you can be tracked if the government found you as interesting as you think you might be.
This person probably thinks venmo is anonymous too.
You'd be better off going to the ATM and getting cash and then using that cash for your purchase if you wanted to remain anonymous.
Bitcoin keeps a transaction log that's integral to the technology behind it, and is retained longer than fucking Chase Manhattan transaction logs.
That's called 'cash.'
And for online payments?
Mail cash in an envelope if you're that concerned about it.
I know of only ProtonMail which lets you mail money.
Which online store will accept that? I've never seen such a payment option. But even if they did, that would take days, so it would be way slower than using cryptocurrency.
Ah, so what you really want is convenience.
If that was true I would use a credit card.
You could mail cash every time you wanted something but you want it now so you won't do that. The fact is crypto is not untraceable. Cash is.
Monero is untraceable.
It's not even a ponzi scheme, it's just a good old fashioned bubble.
It's digital tulips.