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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 bu

by 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
        yes and via crypto. all the ways you listed are subject to arbitrary reviews, limits, and freezes even if KYC is done by all parties. and of course, dont cater to all countries. yes speculation and reducing legal frictions are big use cases. the laws and private sector interpretation of those laws are the friction. in the US, the executive branch and congress are fully aware that crypto to crypto transfers onchain do not require KYC. there is nothing illegal about that, and nothing wrong with avoiding the other law imposed on other systems in this particular way. additionally, the same feature works in creating freedom in authoritarian regimes, like are we supposed to be dismayed that chinese citizens have other ways of moving more than $50,000 worth out of the country annually? is your dismay towards crypto’s use cases because you are FOR oppression of chinese citizens? rhetorical and only mentioned to highlight the relative morality necessary to even come up with your devils advocacy. crypto is agnostic to the circumstance and opens up markets if you’re not the audience for that use case then that has nothing to do with anyone else, theyre already in the crypto space and prefer that method

by 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
        yes and via crypto. all the ways you listed are subject to arbitrary reviews, limits, and freezes even if KYC is done by all parties. and of course, dont cater to all countries. yes speculation and reducing legal frictions are big use cases. the laws and private sector interpretation of those laws are the friction. in the US, the executive branch and congress are fully aware that crypto to crypto transfers onchain do not require KYC. there is nothing illegal about that, and nothing wrong with avoiding the other law imposed on other systems in this particular way. additionally, the same feature works in creating freedom in authoritarian regimes, like are we supposed to be dismayed that chinese citizens have other ways of moving more than $50,000 worth out of the country annually? is your dismay towards crypto’s use cases because you are FOR oppression of chinese citizens? rhetorical and only mentioned to highlight the relative morality necessary to even come up with your devils advocacy. crypto is agnostic to the circumstance and opens up markets if you’re not the audience for that use case then that has nothing to do with anyone else, theyre already in the crypto space and prefer that method