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With current Bitcoin volatility it's crazy to store money with it. I really love tech which allows me to remember passphrase and having all money locked inside my brain, so I would certainly use it if it weren't so volatile.
Which is fine until you want someone to be able to inherit your money.
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I've used it seriously. Paying people in countries without a functional banking system is a real problem and bitcoin nicely helped with that. I also collected some donations for reocities.com which helped to keep it alive. I never bought any, just mined a bit and I never sold any either.
Similarly, I try to add it to all my side-projects that accept payment. I looked at a few payment providers and settled on OpenNode, as they had the right mix of an easy API, quick support and good documentation, though I would like it if they supported more cryptocurrencies. If you want cryptocurrencies to succeed, you need to make them widespread as a form of payment. I already lament Steam and Stripe removing Bitc…
Cryptocurrency is just penny stocks (before regulation). Same pump-and-dump manipulation occurs. Why is this surprising?
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It's like cash, i frankly don't care about value either but a form of payment that is not tied to me specifically where I can exchange the money for goods and services is crucial to me. Not much different from a cash giftcard i can use to pay for things online
Except it's not like cash because it isn't subject to relatively stable long-term economic policy but instead to market speculation. How would you like the dollar bills you have in your pocket to hold a completely random value tomorrow?
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Similarly, I try to add it to all my side-projects that accept payment. I looked at a few payment providers and settled on OpenNode, as they had the right mix of an easy API, quick support and good documentation, though I would like it if they supported more cryptocurrencies. If you want cryptocurrencies to succeed, you need to make them widespread as a form of payment. I already lament Steam and Stripe removing Bitc…
btcpay is pretty good too, it's an open source payment processor
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I've used it seriously. Paying people in countries without a functional banking system is a real problem and bitcoin nicely helped with that. I also collected some donations for reocities.com which helped to keep it alive. I never bought any, just mined a bit and I never sold any either.
Similarly, I try to add it to all my side-projects that accept payment. I looked at a few payment providers and settled on OpenNode, as they had the right mix of an easy API, quick support and good documentation, though I would like it if they supported more cryptocurrencies. If you want cryptocurrencies to succeed, you need to make them widespread as a form of payment. I already lament Steam and Stripe removing Bitc…
This! It's unfortunate that the most well known cryptocurrency failed to grasp this and refused to prioritize scaling so that it could accommodate demand.
At the end of the day, if a cryptocurrency can't be used like cash, it has nothing to offer over existing solutions.
The more I know about cryptos, the more I remain skeptical. The only people I know that uses cryptos seriously are acquaintancies from latin america, and none of them for storing value, with the exception of Venezuelans. Not even argentinians, that just buy as many dollars they can. IMO this is a thread worth reading on this topic: https://www.reddit.com/r/worldnews/comments/dj2jro/the_large...
Just last week a friend of mine from another country was suppose to send me a few hundred bucks. He could have sent it 'traditionally' but he would have been harassed about why he was sending money abroad and wasted considerable time and effort going to a physical bank branch. Instead in under a minute he sent me some Ethereum and we both were able to confirm the transaction near immediately. I'm now able to use that in the way I see fit directly within a Chrome extension within the browser I'm typing this on. I can take this money and start earning interest higher than any bank will give me within a few minutes. And this is just the beginning of cutting out middleman and processes that feel as cumbersome as sending a letter vs an email.
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Except it's not like cash because it isn't subject to relatively stable long-term economic policy but instead to market speculation. How would you like the dollar bills you have in your pocket to hold a completely random value tomorrow?
Sounds like as good of a deal as right now where do the dollar bills I hold are guaranteed to be worth less tomorrow, with occasional periods of it being worth significantly less.
The Bitcoin rally of 2017 was caused by Ethereum, specifically the rise of ICOs.
The last spike in 2017, $10k-$19k, is what this article refers to as „the rally. That was not caused by ICOs, but likely by a single entity (I was witnessing it in real-time back then on multiple exchanges and the price action definitely looked like one entity with ultra deep pockets was running a buying bot with no limits whatsoever - I had this theory back then already, although I got the exchange wrong, I thought…
ICO mania really started in April, and the ETH/BTC ratio rose to its ATH in June/July. This drove a ton of hype into cryptocurrencies, and naturally every single crypto rose spectacularly. BTC would have never gotten to 10k if it wasn't for the ICO mania of Summer 2017, IMO.