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the speed of capital formation and lowered barrier of doing so has been great, the obsolescence of capital controls has been great as well, from the strictest

the speed of capital formation and lowered barrier of doing so has been great, the obsolescence of capital controls has been great as well, from the strictest nation state level ones, to the most benign private sector ones. all overridden and circumvented. at this point I would just say if you're not the target audience that has nothing to do with anyone else that garners their own utility out of the ecosystem. I think people kind of want to be convinced about why they should adopt with examples of a use case they only make rebuttals about, and that's unproductive for everyone. tl;dr "you do you" but if you want to know why and how other people are using this ecosystem, there are plenty of user stories

CPLX 2y ago
This to me is the archetypal answer to question about what crypto is useful for. Like it has all these words in it and it seems like a statement of some kind but there’s literally nothing there.
- lcnPylGDnU4H9OF 2y ago
  You are saying is that you do not see a use of it for yourself. They are saying that others see a use for it for themselves. Hope that helps.
- yieldcrv 2y ago
  You’re the archetype it’s about: you’re looking for something to convince you and challenge why it didn’t convince you When a lot of other people derive value and extract value from the space and thats all that matters. If you’re not those people, then dont worry about it. If you want to be those people, ask them what they’re doing and what problems they have. They’ll pay you to solve them. Just like every other sector. But then you too will be a part of the crypto economy.
  - CPLX 2y ago
    > If you’re not those people, then dont worry about it. Seems to me they're trying to get me to give them my tax money these days. Not sure "you do you" is really a great response to obvious grift and fraud. Nor is it an answer to the question of what crypto is actually useful for.
    - yieldcrv 2y ago
      I don't know who "they" is, and "they" are not capable of representing that entire sector I've already told you that the most productive thing is asking people what they use it for.
      - CPLX 2y ago
        OK what do people use it for?
        yieldcrv 2y ago
        a lot of my vendors and contractors pay or are paid in stablecoins, and we redeem them in our exchanges and banks as domestic transfers. for me in the US, this allows for same-day liquidity in all forms - crypto, bank deposits, cash. In a matter of minutes after invoicing. In comparison to weeks or possibly even months. these vendors and contractors are worldwide where either an international wire transfer is needed, which would have extremely high scrutiny and unknown settlement times, or other payment methods that are equally subject to random freezes or high fees or transaction size limits thats one use case for me for 8 years now. I wish it wasnt a friction I would even need to consider but I dont really consider traditional finance a competitor, sometimes I want the currency used by my government and brokerage firms, sometimes I dont. one person I ask “do you take crypto” and they laugh like its an uncomfortable absurd joke, the next person receives the business and often discounts it due to lower transaction fees and settlement times
        CPLX 2y ago
        Same day money transfers are a pretty well solved problem at this point via Wise or PayPal or Payoneer or SWIFT or plenty of other ways. Sure they're subject to KYC and so on, but that's kind of the point. Which is that crypto still has only two genuinely viable use cases: 1) speculation and 2) avoiding laws.
        yieldcrv 2y ago
kmeisthax 2y ago
Why do you consider this a positive? Remember: freedom for the people is authoritarianism to the monied and powerful[0]; and vice versa, the only freedom they care about is the one where they get to put us in chains. Capital controls make the powerful accountable to democracy, because we're not letting them take their toys and go home. The obsolescence of such controls does not bring about more freedom for us. It just means the rich and powerful can play a shell game with the people. [0] A pleonasm, I know.
- yieldcrv 2y ago
  My country is a democracy does not have limitations on how much money can move in or out of the country, so already I would not be able to relate to you on your quotes. But there are many reporting aspects, and scrutiny of various transaction methods at certain amounts, scrutiny which can cause delays and seizures. Crypto gets around those too.

CPLX 2y ago

This to me is the archetypal answer to question about what crypto is useful for. Like it has all these words in it and it seems like a statement of some kind but there’s literally nothing there.

lcnPylGDnU4H9OF 2y ago
You are saying is that you do not see a use of it for yourself. They are saying that others see a use for it for themselves. Hope that helps.
yieldcrv 2y ago
You’re the archetype it’s about: you’re looking for something to convince you and challenge why it didn’t convince you When a lot of other people derive value and extract value from the space and thats all that matters. If you’re not those people, then dont worry about it. If you want to be those people, ask them what they’re doing and what problems they have. They’ll pay you to solve them. Just like every other sector. But then you too will be a part of the crypto economy.
- CPLX 2y ago
  > If you’re not those people, then dont worry about it. Seems to me they're trying to get me to give them my tax money these days. Not sure "you do you" is really a great response to obvious grift and fraud. Nor is it an answer to the question of what crypto is actually useful for.
  - yieldcrv 2y ago
    I don't know who "they" is, and "they" are not capable of representing that entire sector I've already told you that the most productive thing is asking people what they use it for.
    - CPLX 2y ago
      OK what do people use it for?
      - yieldcrv 2y ago
        a lot of my vendors and contractors pay or are paid in stablecoins, and we redeem them in our exchanges and banks as domestic transfers. for me in the US, this allows for same-day liquidity in all forms - crypto, bank deposits, cash. In a matter of minutes after invoicing. In comparison to weeks or possibly even months. these vendors and contractors are worldwide where either an international wire transfer is needed, which would have extremely high scrutiny and unknown settlement times, or other payment methods that are equally subject to random freezes or high fees or transaction size limits thats one use case for me for 8 years now. I wish it wasnt a friction I would even need to consider but I dont really consider traditional finance a competitor, sometimes I want the currency used by my government and brokerage firms, sometimes I dont. one person I ask “do you take crypto” and they laugh like its an uncomfortable absurd joke, the next person receives the business and often discounts it due to lower transaction fees and settlement times
        CPLX 2y ago
        Same day money transfers are a pretty well solved problem at this point via Wise or PayPal or Payoneer or SWIFT or plenty of other ways. Sure they're subject to KYC and so on, but that's kind of the point. Which is that crypto still has only two genuinely viable use cases: 1) speculation and 2) avoiding laws.
        yieldcrv 2y ago

kmeisthax 2y ago

Why do you consider this a positive? Remember: freedom for the people is authoritarianism to the monied and powerful[0]; and vice versa, the only freedom they care about is the one where they get to put us in chains. Capital controls make the powerful accountable to democracy, because we're not letting them take their toys and go home. The obsolescence of such controls does not bring about more freedom for us. It just means the rich and powerful can play a shell game with the people. [0] A pleonasm, I know.

yieldcrv 2y ago
My country is a democracy does not have limitations on how much money can move in or out of the country, so already I would not be able to relate to you on your quotes. But there are many reporting aspects, and scrutiny of various transaction methods at certain amounts, scrutiny which can cause delays and seizures. Crypto gets around those too.