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1. Transfer to your bank account via an exchange (KYC applies) 2. Turn it into cold hard cash or a bank transfer via P2P (no KYC ) 3. Withdraw cash directly f

1. Transfer to your bank account via an exchange (KYC applies) 2. Turn it into cold hard cash or a bank transfer via P2P (no KYC ) 3. Withdraw cash directly from a Bitcoin ATM (KYC may apply depending on the exchange issuing the card) 4. Transfer to a crypto debit card and buy from stores directly (KYC may apply depending on the exchange issuing the debit card) 5. Pay directly with your crypto at relevant stores (projects like AMP - https://amptoken.org/ https://amptoken.org/ - US only for now)

mbesto 5y ago
1. But I still need a bank in the currency on the other end. So this might eliminate some forex fees, but that's it? 2. Again, still need a bank account on the end. 3. How pervasive are these? Can I find one on the street while traveling Munich for example? How do I get a card? 4/5. No one wants to use crypto because they get FOMO on price fluctuations. Until then it's basically useless. Until crypto becomes pervasive as a medium of exchange it's as useless as a bar of gold.
- puranjay 5y ago
  1. P2P exchanges can happen in cold hard cash. No bank account necessary. 2. Bitcoin is barely a decade old. Ethereum was launched in 2015. Most of the DeFi core projects were launched in 2019-2020. This is extremely early stage and comparing it to the ease and convenience of legacy financial systems is a little disingenuous. It might be complicated currently, but it works. I give up. All I see on HN are people who’ve somehow dismissed an entire new tech sector without even being curious about it. The arguments are trite and shallow. At the very least, if you are on HN, I expect you to be curious about the technology and make up your mind after satiating that curiosity.
  - mbesto 5y ago
    > All I see on HN are people who’ve somehow dismissed an entire new tech sector without even being curious about it. If I found a new animal species that walked and talked but lived using photosynthesis, I'd be asking all sorts of questions. "Does it breathe? Does it need water? Why does it need sun to live?" So here we are now asking a bunch of questions and seeking clarifications. > At the very least, if you are on HN, I expect you to be curious about the technology and make up your mind after satiating that curiosity. "No true scotsman"...People are being critical because they ARE curious about crypto. How do you expect people to "make up their mind" when "Most of the DeFi core projects were launched in 2019-2020". That's exactly the issue.

mbesto 5y ago

1. But I still need a bank in the currency on the other end. So this might eliminate some forex fees, but that's it? 2. Again, still need a bank account on the end. 3. How pervasive are these? Can I find one on the street while traveling Munich for example? How do I get a card? 4/5. No one wants to use crypto because they get FOMO on price fluctuations. Until then it's basically useless. Until crypto becomes pervasive as a medium of exchange it's as useless as a bar of gold.

puranjay 5y ago
1. P2P exchanges can happen in cold hard cash. No bank account necessary. 2. Bitcoin is barely a decade old. Ethereum was launched in 2015. Most of the DeFi core projects were launched in 2019-2020. This is extremely early stage and comparing it to the ease and convenience of legacy financial systems is a little disingenuous. It might be complicated currently, but it works. I give up. All I see on HN are people who’ve somehow dismissed an entire new tech sector without even being curious about it. The arguments are trite and shallow. At the very least, if you are on HN, I expect you to be curious about the technology and make up your mind after satiating that curiosity.
- mbesto 5y ago
  > All I see on HN are people who’ve somehow dismissed an entire new tech sector without even being curious about it. If I found a new animal species that walked and talked but lived using photosynthesis, I'd be asking all sorts of questions. "Does it breathe? Does it need water? Why does it need sun to live?" So here we are now asking a bunch of questions and seeking clarifications. > At the very least, if you are on HN, I expect you to be curious about the technology and make up your mind after satiating that curiosity. "No true scotsman"...People are being critical because they ARE curious about crypto. How do you expect people to "make up their mind" when "Most of the DeFi core projects were launched in 2019-2020". That's exactly the issue.