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Crypto scammers piggybacking Trump’s Twitter, cloning Medium, stealing crypto

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Re: Crypto scammers piggybacking Trump’s Twitter, cloning Medium, stealing crypto

#101
post #2

So cryptocurrency is dead, right? After some brief interest around the middle 2010s, where some vendors actually did accept it, they seem to have all revoked their support for it. All that it seems to be used for now is scams, ransomware, and pump-and-dump schemes.

Far from dead. It's been growing rapidly, particularly the decentralized finance (defi) space. Number of transactions has been steadily going up in Ethereum: https://etherscan.io/chart/tx

As far as a way to remain untraceable (organized crime) or untaxable (the elites) the main use cases for crypto have moved on particularly to things (like designer handbags) that actually accrue value over time and/or are not numbered and tracked publicly.

Re: Crypto scammers piggybacking Trump’s Twitter, cloning Medium, stealing crypto

#102

Earlier quoted context omitted.

I've bought things with BTC (I believe I am rare insofar as I have never bought BTC but have spent them...) and having frequently used cash, I can assure you that spending BTC is not even remotely as easy as spending cash.

Digital gold is a better analogy for BTC than digital cash. As a value reserve BTC has a lot of desirable properties over gold (try moving $10m of gold around...). The fact that it's fairly easy to spend BTC is an additional positive point.

Yeah, but ever tried to spend (actual) cash online? Any way you try, you're going to need 2 banks and a payment processor involved. The buyer bank, the seller bank, and Visa, PayPal, or somebody.

In the end, something like 3-5 percent of what you spend is going to be redirected. These are real costs you pay.

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