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1. The crypto market is moving to Poof of Stake, rather than Proof of Work. It is already rapidly getting more energy efficient because of this. Most new soluti
by shon 5y ago
1. The crypto market is moving to Poof of Stake, rather than Proof of Work. It is already rapidly getting more energy efficient because of this. Most new solutions like Polkadot and Ada are PoS, ETH will be there soon. BTC is energy inefficient because it’s old.
2. Retail payments are an abstraction above currency. When I pay with a Visa card, I may be spending cash, “credit”, crypto, etc… Visa/MC is probably the most pervasive non-Fiat/cash retail payment method in the world and it currently works with crypto thanks to Coinbase and others. Then you have Venmo, PayPal and the many others that work well in retail. There are / will be lots of great retail solutions that are abstracted from the base value store.
3. Crypto is very useful for P2P and B2B payments without approval from gov, banks, etc.
4. I lived in Argentina for a while and it’s true about the taxes and corruption. When I lived there I had to pay rent in cash but often the banks would just close or stop withdrawals. Crypto is better for this application (P2P payment, not super time sensitive).