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>Over the last 12 years, it is hard to have lived and not notice the poster child of blockchains: Bitcoin The funny thing is, it's actually pretty easy if you'

>Over the last 12 years, it is hard to have lived and not notice the poster child of blockchains: Bitcoin The funny thing is, it's actually pretty easy if you're not in the tech bubble. Despite the fact that the Bitcoin whitepaper carries the title "Bitcoin: A Peer-to-Peer Electronic Cash System" I still have not paid for a single actual thing in my life with Bitcoin or crypto, neither has almost anyone else except for maybe heroin on the internet. The transaction costs and the bizarre price swings from one day to the next render it entirely useless. If the central bank is too unreliable because inflation goes up to 7% over a year, what does that make bitcoin where one stupid tweet from Elon Musk at three in the morning wipes out 15% of your net worth or purchasing power. When someone makes a crypto currency that I can get a paycheck in that's roughly worth the same thing at the end of the month as it was at the beginning, and I can pay for a coffee faster than with Venmo, Alipay, or cash consider me excited

Eddy_Viscosity2 5y ago
But why would this be exciting? You already have this now with the current banking system! I almost always pay for things with credit card with chip. I just tap the card on the console and boom, payment is instantly made. And... I have fraud protection if my card gets used without permission (this has happened, and I was quickly refunded). What could be easier and better than what we currently have for day to day transactions?
- Barrin92 5y ago
  It'd be pretty good for everyone who does international payments like remittances or the few billion unbanked people or if you're stuck in a country like Japan where banking is hell. But yes overall it'd be boring and mundane which was honestly my point. Improving the boring stuff that everyone uses in the real world is actually what's interesting at the end of the day.
  - Eddy_Viscosity2 5y ago
    Even for use-cases like international payments and remittances, sure its better now, but it is only a matter of time before any crypto versions become just as slow, bureaucratic, and rent-seeking as our current system. The poor being exploited by the rich and weak by the powerful is a mode of human behavior that cannot be fixed with hashes.

Eddy_Viscosity2 5y ago

But why would this be exciting? You already have this now with the current banking system! I almost always pay for things with credit card with chip. I just tap the card on the console and boom, payment is instantly made. And... I have fraud protection if my card gets used without permission (this has happened, and I was quickly refunded). What could be easier and better than what we currently have for day to day transactions?

Barrin92 5y ago
It'd be pretty good for everyone who does international payments like remittances or the few billion unbanked people or if you're stuck in a country like Japan where banking is hell. But yes overall it'd be boring and mundane which was honestly my point. Improving the boring stuff that everyone uses in the real world is actually what's interesting at the end of the day.
- Eddy_Viscosity2 5y ago
  Even for use-cases like international payments and remittances, sure its better now, but it is only a matter of time before any crypto versions become just as slow, bureaucratic, and rent-seeking as our current system. The poor being exploited by the rich and weak by the powerful is a mode of human behavior that cannot be fixed with hashes.