this post was submitted on 10 Aug 2023
383 points (98.2% liked)
Asklemmy
43907 readers
1365 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Cryptocurrency in general. Even on the surface, as presented, the main appeal to buy in is "to get rich from it" and the main way you're supposed to get rich is "other people buying in, get in early while you can."
Ponzi. Schemes. All of them.
The main appeal is the ability to make transactions without intermediaries. The problem is that most people have as the only interest to get richer and richer and there will be always other people happy to sell them that dream.. For a fee. These are the vastmajorituy of the people in cryptocurrencies, but that doesn't disreguard the power and utility of the technology. It's easy to shit on the tool, but the real problem is the greed-driven society we live in.
If people paid rent or bought groceries with crypto currency? Sure. It's not like thousands of people without bank access are using coins.
I've been living on cryptocurrencies only for the last >6 years. Buying groceries, travels and whatever else i need. So yes, people do that. You don't hear about it because people are too busy talking about speculators and price movements.
Cryptocurrencies are seeing high adoptions in country where banking is limited, in the rich country is 99% speculation.
Doesn't the see saw of speculation kind of screw this up for you? Or do you only engage in business with other crypto people?
Speculation makes it harder because it causes price volatility, which is good and bad. There are services like bitrefill, travala and coincards that make very easy to buy almostanything using crypto. Of course if somebody accepts crypto directly i prefer them.