Quote:
Originally Posted by jmg
That's a false equivalence. I was never skeptical of the impact of the internet, so I don't know how that even applies.
Unless these transactions are quick converted to fiat, the volatility of crypto could negate those cost savings for the receiver. On the other hand, a crypto bull market it a potential loss for the seller. It's a band aid for larger problems: lack of a global fiat, remittance transaction fees, and complicated FEI taxes.
I'm not talking about blockchain, I'm talking about bitcoin and cryptocurrencies. True, they are tied into each other, but cryptocurrency is a function of blockchain. Blockchain is what has intrinsic value while Bitcoin and cryptocurrency value is market based... and in with how volatile is has been this past decade, a speculative one by definition.
Don't believe me? Ask all the people you know who have acquired bitcoin the past 12 years. How many have used it as currency and how many just trade it? Of the dozens of people I know, 0 have used it as currency, all of them just trade it on speculation.
Yes, I know my circle doesn't reflect the entire world, but consider this:
I see many accepting bitcoin as payment, yet I don't see many places paying in bitcoin. That tells me that they are also speculating, not treating it as a traditional currency. Do you think Tesla was planning to pay its vendors and contractors in bitcoin? Hell no. They will, however, accept it. Remember that scenario I described earlier? The receiver wins in a bull market, the payer loses. What did Tesla do right after they sold all their bitcoin? They stopped accepting it because Elon's pump and dump was already complete. That's a lack of intrinsic value, that's playing the market.
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It seems you misinterpreted/misunderstood my whole post.....
And also clearly evident you have not done any research on what I talked about, and the blockchains/ledgers I talked about. I don't care to have to explain everything for you, you don't believe in it or what it will do to change the world, good for you.