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That may be the appeal of the crypto world but the reality of the crypto world is that it is retarded. Crypto has no real world applications.
by nambit 8y ago
That may be the appeal of the crypto world but the reality of the crypto world is that it is retarded. Crypto has no real world applications.
- Mountain_Skies 8y agoI've never bothered with crypto but I can think of a few situations where it would be useful. A few years ago I went on a vacation to Argentina which was suffering from high inflation, had instituted currency controls, and had an official bank exchange rate that was laughable compared to what you could get quite openly on most street corners. Being able to buy crypto in the US and then sell it in Argentina for local currency could have been useful. For locals, using it as a store of value might have been useful if not for the crazy amount of volatility. Another edge case is for purchasing things in legal gray areas. Obviously some use it to buy drugs, illegal services, and other things most wouldn't want to be involved in. Before streaming services became popular there was a Russian music ecommerce site called AllOfMP3. They sold MP3s for the local Russian price to customers around the world. As this was a large discount, it made the record companies unhappy so they pressured the credit card companies to stop allowing payment to AllOfMP3. In the age of crypto, they would have been able to chug along with little problem but back then it caused them to resort to trading in gift cards. I don't know how long they lasted once the credit card embargo was put in place but such a financial lockout would be more difficult for the record companies to accomplish today. Of course streaming services have made that business model mostly obsolete so we'll probably never know for sure.