3 ms·

>Once again, why are companies like Stripe [0], Moneygram [1], still using cryptocurrencies then? Because they want to be part of the current buzzword, just li

>Once again, why are companies like Stripe [0], Moneygram [1], still using cryptocurrencies then? Because they want to be part of the current buzzword, just like every company throwing around "AI" and "machine learning". For the most part those companies are also fairly quickly converting any crypto into hard fiat, their risk is entirely minimal, yet the fees they are charging are quite profitable. They're mostly acting as moneychangers, not crypto fanatics. And their adoption doesn't change the fact that you can go on dozens (hundreds?) of DNMs and buy child pornography and drugs from the privacy of your living room. The vast majority of crypto is currently speculation/pump and dump and illegal commerce. Period. It is cancer, electricity-hungry cancer.

rvz 4y ago
> Because they want to be part of the current buzzword, just like every company throwing around "AI" and "machine learning". So 'But current buzzword'. Just like 'open-source', 'privacy', 'internet of things', etc and your point is? You still have not given a valid reason for those companies to drop the ones mentioned in the article I linked in my previous comment and instead did a very bold sweeping statement (and dodged my other questions). By now they should have drop those cryptocurrencies or technologies mentioned in the articles given what you have described is happening on other blockchains, and they still haven't. Maybe they know and recognise that not all of them are like that. But nice try at generalizing all of them. > For the most part those companies are also fairly quickly converting any crypto into hard fiat, their risk is entirely minimal, yet the fees they are charging are quite profitable. Assuming you read both of the links in my previous comment are you sure it is fiat or was it a stablecoin? And why do you the risk is minimal? It plays into my point on why they both waited for regulations to become clearer. They will both co-exist under regulations, especially a few stablecoins; but not all of them. > The vast majority of crypto is currently speculation/pump and dump and illegal commerce. Period. It is cancer, electricity-hungry cancer. So from an absolutist statement of 'crypto is cancer', 'electricity-hungry cancer' and sweeping all of them under the same brush to now back-peddling to 'vast majority of crypto'? I wonder if you have realised that the 'vast majority of crypto' is not anonymous but pseudonymous since anyone can trace where the money or illegal activity is going. If such criminals tried to cash out that money to fiat, the exchanges will disallow it with KYC / AML checks. I'm not even defending privacy coins that will also be subject to tighter regulations [0] [1] than cryptocurrencies that use a transparent ledger and the exchanges are already de-listing many privacy coins to comply with incoming regulations. [0] [1] Once again, crypto and some projects are not totally going away 100%, but non-compliant cryptocurrencies and projects will wither away. [0] https://www.euronews.com/next/2021/07/21/eu-will-make-bitcoin-traceable-and-ban-anonymous-crypto-wallets-in-anti-money-laundering-d https://www.euronews.com/next/2021/07/21/eu-will-make-bitcoi... [1] https://www.europarl.europa.eu/news/en/press-room/20220309IPR25162/cryptocurrencies-in-the-eu-new-rules-to-boost-benefits-and-curb-threats https://www.europarl.europa.eu/news/en/press-room/20220309IP...

rvz 4y ago

> Because they want to be part of the current buzzword, just like every company throwing around "AI" and "machine learning". So 'But current buzzword'. Just like 'open-source', 'privacy', 'internet of things', etc and your point is? You still have not given a valid reason for those companies to drop the ones mentioned in the article I linked in my previous comment and instead did a very bold sweeping statement (and dodged my other questions). By now they should have drop those cryptocurrencies or technologies mentioned in the articles given what you have described is happening on other blockchains, and they still haven't. Maybe they know and recognise that not all of them are like that. But nice try at generalizing all of them. > For the most part those companies are also fairly quickly converting any crypto into hard fiat, their risk is entirely minimal, yet the fees they are charging are quite profitable. Assuming you read both of the links in my previous comment are you sure it is fiat or was it a stablecoin? And why do you the risk is minimal? It plays into my point on why they both waited for regulations to become clearer. They will both co-exist under regulations, especially a few stablecoins; but not all of them. > The vast majority of crypto is currently speculation/pump and dump and illegal commerce. Period. It is cancer, electricity-hungry cancer. So from an absolutist statement of 'crypto is cancer', 'electricity-hungry cancer' and sweeping all of them under the same brush to now back-peddling to 'vast majority of crypto'? I wonder if you have realised that the 'vast majority of crypto' is not anonymous but pseudonymous since anyone can trace where the money or illegal activity is going. If such criminals tried to cash out that money to fiat, the exchanges will disallow it with KYC / AML checks. I'm not even defending privacy coins that will also be subject to tighter regulations [0] [1] than cryptocurrencies that use a transparent ledger and the exchanges are already de-listing many privacy coins to comply with incoming regulations. [0] [1] Once again, crypto and some projects are not totally going away 100%, but non-compliant cryptocurrencies and projects will wither away. [0] https://www.euronews.com/next/2021/07/21/eu-will-make-bitcoin-traceable-and-ban-anonymous-crypto-wallets-in-anti-money-laundering-d https://www.euronews.com/next/2021/07/21/eu-will-make-bitcoi... [1] https://www.europarl.europa.eu/news/en/press-room/20220309IPR25162/cryptocurrencies-in-the-eu-new-rules-to-boost-benefits-and-curb-threats https://www.europarl.europa.eu/news/en/press-room/20220309IP...