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I recently paid a lawyer I had to hire in the US with USDC, rather than paying 40€+ on top of exchange fees for each time I wire him money. Another use case is

I recently paid a lawyer I had to hire in the US with USDC, rather than paying 40€+ on top of exchange fees for each time I wire him money. Another use case is domains and servers. When big companies like Porkbun, namecheap and vultr offer their services to be bought via Bitcoin there is probably some demand.

gtirloni 3y ago
That demand comes from scammers and other fun activities.
- the_sleaze9 3y ago
  Source?
- andirk 3y ago
  I have bought domains with bitcoin when they offer. I heard someone used USD for a domain, and it turns out USD is used by scammers!
  - gtirloni 3y ago
    Was it done out of curiosity a few times or do you use Bitcoin as a currency daily? Do you know anyone using Bitcoin as a currency daily? How many people do you think are using Bitcoin as a currency for legal business VS the number of people using it to speculate on its price and/or shady activities? I'd love to be proved wrong but unfortunately neither of us will be able to collect this information so I guess we have to agree to disagree and live inside our little bubbles.
    - andirk 3y ago
      I use it as a currency kind of to encourage its use. I have several USD accounts to use depending on the merchant, and a couple BTC accounts as well, and I use the BTC whenever offered. My understanding is not many people use BTC as a purchasing goods currency. BTC buys are probably mostly a speculative bet that BTC will become more used and more useful in the future, just like any stonk albeit weirder. I am only challenging the usefulness of a statement like "BTC is a criminal currency" that is fully applicable to USD just the same.
      - usrbinbash 3y ago
        The problem with using BTC or any other "crypto" token as currency, is that it's not "legal tender" [1], aka. something that law guarantees can be used to settle debts with. For something to be an actual currency in our world, one minimum requirement would for it to be legal tender. "FIAT" money is legal tender. If I have a 100 dollars in USD, and a debt of 50 dollars, I can settle that debt, period. If I have a 100 dollars in BTC, and a debt of 50 dollars, my ability to settle that debt relies completely on the creditor to accept BTC as a form of payment. Which is entirely up to the creditor, as he isn't legally required to do so, unless we have an enforceable contract that says he has to. As long as that doesn't change, and given the fact that the entire value backing of crypto tokens is based on the money invested into them, it is highly unlikely to happen in relevant economies, crypto tokens will not become a widespread currency. A lot of people laud the fact that crypto is free of government influence. The problem with that is, that this government influence is exactly what makes money work as currency. [1]: https://en.wikipedia.org/wiki/Legal_tender https://en.wikipedia.org/wiki/Legal_tender

gtirloni 3y ago

That demand comes from scammers and other fun activities.

the_sleaze9 3y ago
Source?
andirk 3y ago
I have bought domains with bitcoin when they offer. I heard someone used USD for a domain, and it turns out USD is used by scammers!
- gtirloni 3y ago
  Was it done out of curiosity a few times or do you use Bitcoin as a currency daily? Do you know anyone using Bitcoin as a currency daily? How many people do you think are using Bitcoin as a currency for legal business VS the number of people using it to speculate on its price and/or shady activities? I'd love to be proved wrong but unfortunately neither of us will be able to collect this information so I guess we have to agree to disagree and live inside our little bubbles.
  - andirk 3y ago
    I use it as a currency kind of to encourage its use. I have several USD accounts to use depending on the merchant, and a couple BTC accounts as well, and I use the BTC whenever offered. My understanding is not many people use BTC as a purchasing goods currency. BTC buys are probably mostly a speculative bet that BTC will become more used and more useful in the future, just like any stonk albeit weirder. I am only challenging the usefulness of a statement like "BTC is a criminal currency" that is fully applicable to USD just the same.
    - usrbinbash 3y ago
      The problem with using BTC or any other "crypto" token as currency, is that it's not "legal tender" [1], aka. something that law guarantees can be used to settle debts with. For something to be an actual currency in our world, one minimum requirement would for it to be legal tender. "FIAT" money is legal tender. If I have a 100 dollars in USD, and a debt of 50 dollars, I can settle that debt, period. If I have a 100 dollars in BTC, and a debt of 50 dollars, my ability to settle that debt relies completely on the creditor to accept BTC as a form of payment. Which is entirely up to the creditor, as he isn't legally required to do so, unless we have an enforceable contract that says he has to. As long as that doesn't change, and given the fact that the entire value backing of crypto tokens is based on the money invested into them, it is highly unlikely to happen in relevant economies, crypto tokens will not become a widespread currency. A lot of people laud the fact that crypto is free of government influence. The problem with that is, that this government influence is exactly what makes money work as currency. [1]: https://en.wikipedia.org/wiki/Legal_tender https://en.wikipedia.org/wiki/Legal_tender