81–90 of 448 posts
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Good government is a luxury many lack.
And that's a fair point. But the problem is Crypto is an investment playground by people from rich countries and legitimate uses of it in countries like say Venezuela is an extremely small part of total transactions.
Fundamental issues of cryptocurrency economy: 1. Biggest pushers are seemingly tech-bros from FANG companies. These companies are laying off staff in record numbers. The biggest cryptocoin believers therefore, will have less income than ever before (in ~3 months or so, after their severance is paid, they'll have to start drawing on savings if they didn't get a job yet... and getting a job in this economy is going to…
Fundamental issues of cryptocurrency economy: 1. Biggest pushers are seemingly tech-bros from FANG companies. These companies are laying off staff in record numbers. The biggest cryptocoin believers therefore, will have less income than ever before (in ~3 months or so, after their severance is paid, they'll have to start drawing on savings if they didn't get a job yet... and getting a job in this economy is going to…
The 'risk' is that the developers don't successfully implement withdrawal or that the whole network goes down. Two, imho, huge risks and part of the reason I don't personally stake at this time. That said, eip-1559 and 'the merge' did happen, without much of a hitch at all, which are pretty major accomplishments. Confidence in the developers is a bit higher now as a result.
source: validator rewards section of https://ultrasound.money/
Crypto as an investment - Not your keys, not your coin.
Crypto as a currency - I can't directly buy food, water, shelter, transportation, energy, or anything fundamental with it.
I know acceptance is growing, but 10+ years later, crypto still has extremely limited acceptance for daily goods and services. It is almost exclusively held as an investment.
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I'm a user of Bitcoin and I never used any exchange.
Genuine question: How do you use it? Do you mean you use it to make purchases, or do you mean you hold it as a store of value, and that's the use? Something else?
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That's irrelevant to the comment you're responding to. The point is that there may be people who use it rationally, but how it works in the real world now that it's leaking out beyond its initial user base is getting really problematic.
It works in real world without any exchanges. All of them could crash and burn and Bitcoin would continue on.