6 ms·

cryptocurrency allows you to send money over the internet seamlessly which is pretty amazing.

by mjfl 4y ago

roflyear 4y ago
I can do that today with no fee. I actually did it today and it was free to pay someone.
esperent 4y ago
I can already do that far more easily using my bank. I sent money from my European bank to a Vietnamese account yesterday. Including opening my banking app, selecting the amount and so on, maybe 60 seconds total for the money to leave my account and arrive in the VN account.
- helloworld11 4y ago
  Well how wonderful for you to be part of a certain privileged subset of people whose banking is fully accessible, easily usable, flows smoothly and has no political obstacles binding it. There are many others for who this isn't the case and all shills, NFT hustlers and cryptobros aside, the basic functionality of cryptocurrencies allows an excellent, hard-to-block workaround of these possible problems that many people I personally know have used to save their own assess in countries such as Russia, Mexico, Venezuela and (oddly perhaps) Hong Kong. I don't understand that logic in your counterargument (and it's common among many people who hate on crypto btw. I don't single you out on this). It amounts to, "I can do this in this way and I love it, so I'm going to shit on alternative means that others might have to use for doing the same thing because they can't use my method" Really?
dusted 4y ago
as long as seamlessly means paying very high fees and waiting a ridiculously long time for the transfer to be confirmed..
- 8n4vidtmkvmk 4y ago
  and explaining crypto to your non technical grandmother in law who needs some cash to pay some bills in a foreign country
secretsatan 4y ago
You can rob someone blind more easily than ever too!
lm28469 4y ago
You can do that for free and faster (and also transferring actual money, not virtual coins you need to re exchange at the end for real money to be able to anything in the real world)
- darkcha0s 4y ago
  Where and how exactly? I'm not a huge crypto fan, but what you're saying is generally a huge problem with FIAT, unless you are sending it to someone in the same country as you.
  - 12ian34 4y ago
    see PayPal, TransferWise, IBAN etc.
    - helloworld11 4y ago
      Have you used paypal extensively? Have you not read the MANY horror stories about its arbitrary blocks, lockouts, outright thefts of funds or at least months-long freezes and so forth? All of these things happen with many other corporate platforms. Sure, they also work for millions of people but it's good to at least have an alternative that can be called on for when things go bad or you live in a place where banking isn't as smooth as it often is in interconnected western countries. What's wrong with having that? One doesn't need to be an NFT hustler, cryptobro or shitcoin scammer to appreciate these basic benefits of a means of wealth transfer that it's very difficult for governments to control.
      - 12ian34 4y ago
        I actually haven't heard the horror stories but I have been using PayPal relatively extensively since at least 2007 and never ever had an issue. Aside from many retail purchases in the UK I've used it to send money around the world also. I'm also pretty sure TransferWise (now "Wise") works for sending money across most of the world. Plus the latter is regulated in the UK so I know that up to £85k is guaranteed by the government to be safe. I am one of the bigger critics of government yet I trust them a lot more than anyone in crypto. Sure they've done bad, but at least they've done some good too. I'm definitely not a crypto hater, I have used several cryptocurrencies somewhat. I wouldn't call it that smooth, and I'd also worry significantly about the lack of regulation (despite that being one of the main selling points of crypto) and the wild volatility.
jquast 4y ago
It’s also completely uninsured against losses. My bank and fidelity can both go bankrupt and shutdown, but I’m still FDIC and SIPC insured, I’ll get all my money back. Good luck with getting your money back from Celsius, Binance, and Coinbase.
dontbenebby 4y ago
I can mail someone a check in about a day or two for the price of a greeting card, and for about fifteen bucks a formal wire transfer. The issues around payments in the USA are due to policy, not technical issues.

cryptocurrency allows you to send money over the internet seamlessly which is pretty amazing.

by mjfl 4y ago

cryptocurrency allows you to send money over the internet seamlessly which is pretty amazing.

roflyear 4y ago

I can do that today with no fee. I actually did it today and it was free to pay someone.

esperent 4y ago

I can already do that far more easily using my bank. I sent money from my European bank to a Vietnamese account yesterday. Including opening my banking app, selecting the amount and so on, maybe 60 seconds total for the money to leave my account and arrive in the VN account.

helloworld11 4y ago
Well how wonderful for you to be part of a certain privileged subset of people whose banking is fully accessible, easily usable, flows smoothly and has no political obstacles binding it. There are many others for who this isn't the case and all shills, NFT hustlers and cryptobros aside, the basic functionality of cryptocurrencies allows an excellent, hard-to-block workaround of these possible problems that many people I personally know have used to save their own assess in countries such as Russia, Mexico, Venezuela and (oddly perhaps) Hong Kong. I don't understand that logic in your counterargument (and it's common among many people who hate on crypto btw. I don't single you out on this). It amounts to, "I can do this in this way and I love it, so I'm going to shit on alternative means that others might have to use for doing the same thing because they can't use my method" Really?

dusted 4y ago

as long as seamlessly means paying very high fees and waiting a ridiculously long time for the transfer to be confirmed..

8n4vidtmkvmk 4y ago
and explaining crypto to your non technical grandmother in law who needs some cash to pay some bills in a foreign country

secretsatan 4y ago

You can rob someone blind more easily than ever too!

lm28469 4y ago

You can do that for free and faster (and also transferring actual money, not virtual coins you need to re exchange at the end for real money to be able to anything in the real world)

darkcha0s 4y ago
Where and how exactly? I'm not a huge crypto fan, but what you're saying is generally a huge problem with FIAT, unless you are sending it to someone in the same country as you.
- 12ian34 4y ago
  see PayPal, TransferWise, IBAN etc.
  - helloworld11 4y ago
    Have you used paypal extensively? Have you not read the MANY horror stories about its arbitrary blocks, lockouts, outright thefts of funds or at least months-long freezes and so forth? All of these things happen with many other corporate platforms. Sure, they also work for millions of people but it's good to at least have an alternative that can be called on for when things go bad or you live in a place where banking isn't as smooth as it often is in interconnected western countries. What's wrong with having that? One doesn't need to be an NFT hustler, cryptobro or shitcoin scammer to appreciate these basic benefits of a means of wealth transfer that it's very difficult for governments to control.
    - 12ian34 4y ago
      I actually haven't heard the horror stories but I have been using PayPal relatively extensively since at least 2007 and never ever had an issue. Aside from many retail purchases in the UK I've used it to send money around the world also. I'm also pretty sure TransferWise (now "Wise") works for sending money across most of the world. Plus the latter is regulated in the UK so I know that up to £85k is guaranteed by the government to be safe. I am one of the bigger critics of government yet I trust them a lot more than anyone in crypto. Sure they've done bad, but at least they've done some good too. I'm definitely not a crypto hater, I have used several cryptocurrencies somewhat. I wouldn't call it that smooth, and I'd also worry significantly about the lack of regulation (despite that being one of the main selling points of crypto) and the wild volatility.

jquast 4y ago

It’s also completely uninsured against losses. My bank and fidelity can both go bankrupt and shutdown, but I’m still FDIC and SIPC insured, I’ll get all my money back. Good luck with getting your money back from Celsius, Binance, and Coinbase.

dontbenebby 4y ago

I can mail someone a check in about a day or two for the price of a greeting card, and for about fifteen bucks a formal wire transfer. The issues around payments in the USA are due to policy, not technical issues.