4 ms·

Yea, except compare the ease, cost, and time of bank wiring your family $5000 to get out of a country where a war started and sending BTC. Something crypto nay-

Yea, except compare the ease, cost, and time of bank wiring your family $5000 to get out of a country where a war started and sending BTC. Something crypto nay-sayers conveniently ignore.

kumarvvr 4y ago
Exactly. I understand the value of the Blockchain, as a distributed, albeit inefficient, ledger of transactions that are anonymous and hard to destroy. But here we have a country, millions of peoples hard work and assets being converted to bitcoin. How exactly does demonstrate critical thinking, planning or heck, even a plan?
WA 4y ago
And the crypto bros conveniently ignore that you can’t easily exchange your BTC for actual cash to buy real things without an exchange or a bank account.
- neonihil 4y ago
  Except for conveniently using one of the ~40,000 crytpo ATMs that are already installed globally. https://coinatmradar.com/ https://coinatmradar.com/
  - VWWHFSfQ 4y ago
    40,000 is a microscopic number and 95% of them are in USA and Canada. The countries that could make most use of these crypto ATMs have no access to them.
    - neonihil 4y ago
      El Salvador has more than 2000 of them. If people want to cash out BTC, they can. No network access or exchange needed. https://coinatmradar.com/country/64/bitcoin-atm-el-salvador/ https://coinatmradar.com/country/64/bitcoin-atm-el-salvador/
      - otterley 4y ago
        How much do they charge for this service? How quickly do they perform the transaction vs. a typical ATM?
        andrewshadura 4y ago
        A lot! I tried them a couple of times just for fun, the exchange rates were horrible.
  - grayfaced 4y ago
    Is that actually realistic? I clicked through Ukraine and couldn't find an ATM to sell BTC. Crypto requires the same assumptions of stability once you want to turn it into something real.
JoeyBananas 4y ago
Monero is better for that, and the price hasn't crashed
nivertech 4y ago
You are not wiring $5000, you adding a new event to a globally-replicated Event Store database, while other people and entities are speculating on theses events using real money, money surrogates, and/or electricity.
NicoJuicy 4y ago
Sending 15K within the EU is free - https://brussels-express.eu/bank-transfers-will-immediate-free-within-europe/ https://brussels-express.eu/bank-transfers-will-immediate-fr... Sending with Wise over multiple currencies is going to be much cheaper than sending currency to currency over BTC... Banks are also safer and covered against fraud. Eg. the other article about Coinbase and it's depositors today. Multiple things crypto "yes-claimers" ignore. But yeah, they "like" the volatility. Except when it drops ofc.
rchaud 4y ago
1 BTC = 1 BTC, so how long does it take to convert it to $5000?

Yea, except compare the ease, cost, and time of bank wiring your family $5000 to get out of a country where a war started and sending BTC. Something crypto nay-sayers conveniently ignore.

kumarvvr 4y ago

Exactly. I understand the value of the Blockchain, as a distributed, albeit inefficient, ledger of transactions that are anonymous and hard to destroy. But here we have a country, millions of peoples hard work and assets being converted to bitcoin. How exactly does demonstrate critical thinking, planning or heck, even a plan?

WA 4y ago

And the crypto bros conveniently ignore that you can’t easily exchange your BTC for actual cash to buy real things without an exchange or a bank account.

neonihil 4y ago
Except for conveniently using one of the ~40,000 crytpo ATMs that are already installed globally. https://coinatmradar.com/ https://coinatmradar.com/
- VWWHFSfQ 4y ago
  40,000 is a microscopic number and 95% of them are in USA and Canada. The countries that could make most use of these crypto ATMs have no access to them.
  - neonihil 4y ago
    El Salvador has more than 2000 of them. If people want to cash out BTC, they can. No network access or exchange needed. https://coinatmradar.com/country/64/bitcoin-atm-el-salvador/ https://coinatmradar.com/country/64/bitcoin-atm-el-salvador/
    - otterley 4y ago
      How much do they charge for this service? How quickly do they perform the transaction vs. a typical ATM?
      - andrewshadura 4y ago
        A lot! I tried them a couple of times just for fun, the exchange rates were horrible.
- grayfaced 4y ago
  Is that actually realistic? I clicked through Ukraine and couldn't find an ATM to sell BTC. Crypto requires the same assumptions of stability once you want to turn it into something real.

JoeyBananas 4y ago

Monero is better for that, and the price hasn't crashed

nivertech 4y ago

You are not wiring $5000, you adding a new event to a globally-replicated Event Store database, while other people and entities are speculating on theses events using real money, money surrogates, and/or electricity.

NicoJuicy 4y ago

Sending 15K within the EU is free - https://brussels-express.eu/bank-transfers-will-immediate-free-within-europe/ https://brussels-express.eu/bank-transfers-will-immediate-fr... Sending with Wise over multiple currencies is going to be much cheaper than sending currency to currency over BTC... Banks are also safer and covered against fraud. Eg. the other article about Coinbase and it's depositors today. Multiple things crypto "yes-claimers" ignore. But yeah, they "like" the volatility. Except when it drops ofc.

rchaud 4y ago

1 BTC = 1 BTC, so how long does it take to convert it to $5000?