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Why would anyone want to buy food with crypto anyway? Can’t understand that. It is not faster. It is not cheaper to transfer. It is not even as anonymous as

by eknkc 4y ago

Why would anyone want to buy food with crypto anyway? Can’t understand that. It is not faster. It is not cheaper to transfer. It is not even as anonymous as cash I’d say. I can see why would someone buy stuff online using crypto but this does not make much sense.

dhosek 4y ago
But that was the original promise of crypto currency, that it would replace cash and checks and credit cards for all transactions. It was based on a lot of ignorance about how money actually works, but that was the claim way back when. I had a manager back in 2007–8 whose wife had a bakery that accepted Bitcoin as payment and he was a big crypto advocate. I could tell back then that all the claims made no sense. What amazes me is that crypto still hasn’t gone to zero a decade and a half later. Although as John Maynard Keynes said: “Markets can stay irrational longer than you can stay solvent."
- cypress66 4y ago
  > But that was the original promise of crypto currency, that it would replace cash and checks and credit cards for all transactions. Some fanatics may have claimed that. But the bitcoin whitepaper itself says that traditional payments are good enough for most cases (and then enumerates cases where it's not, such as if you want non reversible transactions).
  - quantified 4y ago
    Some fanatics have pushed their views far though. They get the reporters who need a story and write things that get clicks. Fanatics are major proselytizers for any movement.
nikanj 4y ago
If you got cryptos from selling contraband, and would rather not pay taxes/leave a paper trail from converting to fiat
- koolba 4y ago
  Spending crypto at a spot where you in person ate a burrito leaves its own paper trail. I guess you could make an onion router style delivery network to get your meal, but you’d also have to convince thousands of others to use it as well to hide amongst them.

by eknkc 4y ago

dhosek 4y ago

But that was the original promise of crypto currency, that it would replace cash and checks and credit cards for all transactions. It was based on a lot of ignorance about how money actually works, but that was the claim way back when. I had a manager back in 2007–8 whose wife had a bakery that accepted Bitcoin as payment and he was a big crypto advocate. I could tell back then that all the claims made no sense. What amazes me is that crypto still hasn’t gone to zero a decade and a half later. Although as John Maynard Keynes said: “Markets can stay irrational longer than you can stay solvent."

cypress66 4y ago
> But that was the original promise of crypto currency, that it would replace cash and checks and credit cards for all transactions. Some fanatics may have claimed that. But the bitcoin whitepaper itself says that traditional payments are good enough for most cases (and then enumerates cases where it's not, such as if you want non reversible transactions).
- quantified 4y ago
  Some fanatics have pushed their views far though. They get the reporters who need a story and write things that get clicks. Fanatics are major proselytizers for any movement.

nikanj 4y ago

If you got cryptos from selling contraband, and would rather not pay taxes/leave a paper trail from converting to fiat

koolba 4y ago
Spending crypto at a spot where you in person ate a burrito leaves its own paper trail. I guess you could make an onion router style delivery network to get your meal, but you’d also have to convince thousands of others to use it as well to hide amongst them.