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You discount the entire category of users who don't "hold" any cryptocurrency at all, but use it as a medium of transfer - buying as much as they need and then

You discount the entire category of users who don't "hold" any cryptocurrency at all, but use it as a medium of transfer - buying as much as they need and then transmitting it elsewhere.

PeterisP 6y ago
As much as they need for what? Aside of ransom payments and drugs, you don't need to buy cryptocurrency, ordinary fiat money works just fine as a medium of transfer.
- drexlspivey 6y ago
  I pay for vpn with crypto, the provider doesnt even have my email. How do you do that with ordinary fiat money?
  - 2pEXgD0fZ5cF 6y ago
    > How do you do that with ordinary fiat money By sending an envelope with cash. Services often offer that option. No E-mail or name disclosure required. A few advantages: Your payment isn't traceable for all eternity for the whole world to see. The amount I pay isn't suddenly worth 10% more or less the next day. Better for the environment.
    - jakeva 6y ago
      That might be fine up to a point, but at a certain number it becomes a really bad idea to mail cash.
- craftinator 6y ago
  > As much as they need for what? Tesla's, until quite recently. It's also fantastic for tipping people online without all the grossness of Patreon or Medium. Easier than making a wire transfer (my bank sucks). I tend to use it everywhere I used PayPal, minus the places where it isn't supported.
- LeoPanthera 6y ago
  This is a very privileged, first-world perspective on things. You probably have a checking account, and a debit card. If you only have cash, and want to send money to (for example) family in another country, it gets very expensive, very fast. Exchanging cash for cryptocurrency without a bank inbetween is a pain in the ass, but its a hell of a lot cheaper than, for example, Western Union.
  - tiltrus 6y ago
    Why not just use TransferWise? Wiring money can get expensive, I agree, but there are many P2P currency exchange platforms out there these days that cost next to nothing.
  - seisvelas 6y ago
    >This is a very privileged, first-world perspective on things. You probably have a checking account, and a debit card. If you only have cash, and want to send money to (for example) family in another country, it gets very expensive, very fast. I live in Mexico, I don't know if we're first world or not. We're kind of in between. We have bank accounts and debit cards here too. In the past when I wanted to send cash to the US or vice versa, I've used Western Union for the convenience - the local corner store (which in Mexico will be Oxxo or 711) has western union. When my family here in MX needs money, I just transfer it to their bank account via my bank's app. I think many people in the US overestimate how privileged they are compared to most of the rest of the world, to be honest. I lived in the US when I was young but left because life felt easier here in MX. Sorry for this kind of ambling response, I don't really disagree with anything you said, your perspective just piqued my interest :)
deleted 6y ago
[deleted]

You discount the entire category of users who don't "hold" any cryptocurrency at all, but use it as a medium of transfer - buying as much as they need and then transmitting it elsewhere.

PeterisP 6y ago

As much as they need for what? Aside of ransom payments and drugs, you don't need to buy cryptocurrency, ordinary fiat money works just fine as a medium of transfer.

drexlspivey 6y ago
I pay for vpn with crypto, the provider doesnt even have my email. How do you do that with ordinary fiat money?
- 2pEXgD0fZ5cF 6y ago
  > How do you do that with ordinary fiat money By sending an envelope with cash. Services often offer that option. No E-mail or name disclosure required. A few advantages: Your payment isn't traceable for all eternity for the whole world to see. The amount I pay isn't suddenly worth 10% more or less the next day. Better for the environment.
  - jakeva 6y ago
    That might be fine up to a point, but at a certain number it becomes a really bad idea to mail cash.
craftinator 6y ago
> As much as they need for what? Tesla's, until quite recently. It's also fantastic for tipping people online without all the grossness of Patreon or Medium. Easier than making a wire transfer (my bank sucks). I tend to use it everywhere I used PayPal, minus the places where it isn't supported.
LeoPanthera 6y ago
This is a very privileged, first-world perspective on things. You probably have a checking account, and a debit card. If you only have cash, and want to send money to (for example) family in another country, it gets very expensive, very fast. Exchanging cash for cryptocurrency without a bank inbetween is a pain in the ass, but its a hell of a lot cheaper than, for example, Western Union.
- tiltrus 6y ago
  Why not just use TransferWise? Wiring money can get expensive, I agree, but there are many P2P currency exchange platforms out there these days that cost next to nothing.
- seisvelas 6y ago
  >This is a very privileged, first-world perspective on things. You probably have a checking account, and a debit card. If you only have cash, and want to send money to (for example) family in another country, it gets very expensive, very fast. I live in Mexico, I don't know if we're first world or not. We're kind of in between. We have bank accounts and debit cards here too. In the past when I wanted to send cash to the US or vice versa, I've used Western Union for the convenience - the local corner store (which in Mexico will be Oxxo or 711) has western union. When my family here in MX needs money, I just transfer it to their bank account via my bank's app. I think many people in the US overestimate how privileged they are compared to most of the rest of the world, to be honest. I lived in the US when I was young but left because life felt easier here in MX. Sorry for this kind of ambling response, I don't really disagree with anything you said, your perspective just piqued my interest :)

deleted 6y ago

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