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Where are all the crypto use cases?

evanjconrad.com

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Re: Where are all the crypto use cases?

#181

Post by hiq »

koonsolo wrote: post #148
maccard wrote: post #129

Earlier quoted context omitted.

And paying you 0.001 in ETH or BTC will cost many orders of magnitude more than that in payment fees alone, and take massive amounts of time to vetify. Meanwhile the actual solution to this problem is micropayments, which can (and allegedly are) better implemented using traditional texhnologies

Why are you proposing solutions that work badly or might work in the future? I gave you a solution that works today . Like I said: sub-second, 0 fee transactions (using Nano). Would love to see any of your traditional systems do better. Can you name one?

> 0 fee transactions

You'd have to check how sustainable this is, Uber was (is?) also very cheap in some areas, just because it's massively subsidized. A solution that works today but not tomorrow and burns cash in between is not necessarily something you want.

Re: Where are all the crypto use cases?

#182

Post by LittlePeter »

ogogmad wrote: post #27
AlexandrB wrote: post #2

This article seems like it's reaching. I don't think "money" accurately describes what cryptocurrency is because most people who use USD don't trade on the FOREX markets, but most cryptocurrency users are primarily focused on the exchange rate of BTC to USD, not it's functionality as a currency. It's better described as a security, and while it can be used as a medium of exchange its volatility can make that expensiv…

> Right now, you can take out a loan without involving a bank from one of the many crypto lending protocols. You put up some collateral and can take out a loan for extremely cheap, because there isn't a bank in the middle to take a cut. "Loan" is a very misleading description of what this is. This is margin trading. A loan is when you post a non-liquid asset in the real world -- like a house -- as collateral. Margin…

"incoherent word salad" is a tautology... "word salad" is already incoherent.

Re: Where are all the crypto use cases?

#183

Post by soco »

ogogmad wrote: post #178
soco wrote: post #164

Earlier quoted context omitted.

Which early internet crash event are you referring to?

The dot-com bubble that crashed circa 2000: https://en.wikipedia.org/wiki/Dot-com_bubble I'm not convinced that crypto is like the dot-com bubble. With the early web, its use cases were fairly clear and immediate. With crypto, the use cases remain unclear and speculative even after 13 years of hype and fanfare.

I definitely wouldn't have thought to call the 00's "early internet" but that's maybe just me :)

Re: Where are all the crypto use cases?

#184

Post by [deleted] »

seibelj wrote: post #67
hiq wrote: post #61

Earlier quoted context omitted.

> Because it avoided the central bank, they could avoid the stealing of their hard currency via the standard international payment system. How much was paid in fees in total, from your currency to theirs (I assume VND)? If it's a USD stablecoin, I assume they still had to convert it to VND, or at least they'd have to if they were paid mostly like this (to pay their taxes). Wise and others are quite cheap for the curr…

I’m extremely deep in this space, so I will provide some more anecdotes. A lot of the Chinese crypto engineers (of which there are many) are paid in USDT. This avoids all of the capital controls and knowledge the state has. There is an entire subculture of Chinese who operate their businesses in USDT, mostly digital ones but it has bled into the physical world as well. In Hong Kong duffel bags full of paper currency…

[deleted]

Re: Where are all the crypto use cases?

#185

Post by anon2020dot00 »

seibelj wrote: post #123
spupe wrote: post #119

Earlier quoted context omitted.

What a ridiculous argument for tax evasion. Your tax money also supports elderly care, orphanages and a range of essential services that you have already benefited from. What you are doing is immoral - freeloading.

I didn’t realize promoting free speech, which would get you arrested and potentially murdered in China, meant you were an immoral person. But with absolute government control over the payment rails, such activism is impossible without a sword over your neck.

Aren't North Korean Hackers using crypto for ransomware? So actually, crypto is used to finance and prop-up such dictatorial governments.

Also, Russia is being sanctioned through freezing their USD accounts and imposing financial sanctions such as suspension from using SWIFT.

If crypto is more wide-spread, then it will become more difficult to impose such financial restrictions to Russia and other international pariahs.

Re: Where are all the crypto use cases?

#186

Post by krageon »

Aunche wrote: post #75

> Filecoin - A commodity market for storage that's currently 0.0011% the cost of S3. This actually proves that there isn't a real use case of Filecoin aside from speculation. Amazon isn't making 99.9989% profit margins on S3, nor is it possible for Filecoin to be a hundred thousand times more efficient than S3. This means that Filecoin's storage product is so uncompetitive that you need to subsidize it a hundred thou…

Perhaps if you gave us some insight on what profit margins amazon is making on S3 and why you think so it would help us follow your thoughts. Just saying "pah, patently ridiculous" and then swiftly moving on is not something of use to anyone.

Re: Where are all the crypto use cases?

#187

Post by Nursie »

koonsolo wrote: post #92
woopwoop wrote: post #43

> Crypto is successful at being money. If you don't believe me, then I'm happy to sell you the laptop I'm writing this on for 1,000 ETH instead of 1,000 USD. Ford F-150s are successful at being money. If you don't believe me, then I'm happy to sell you the laptop I'm writing this on for 1,000 Ford F-150s instead of 1,000 USD.

If you want to read my article, you can pay me 0.001 Nano (sub-second, 0 fee transaction), or you can pay me $0.001. Oh no wait, you can't pay me $0.001!

But to do that I have to buy nano, and then you need to cash out nano to do anything useful with it.

Also frankly, if I'm paying as little as 0.001 Nano, then probably I don't actually care about your article and reading it is pure procrastination on my part, so I'm likely better off not doing so. Thanks for putting up your paywall :)

Re: Where are all the crypto use cases?

#188

Post by jjuliano »

One of the use-case is to unfriend friends.

Basically, you over-hype a crypto to your friends, then they invest huge sums of their savings, then immediately a crash occurs, wiping 90% of the saving.

Next use-case is to recommend stables.

Re: Where are all the crypto use cases?

#189

Post by obarthelemy »

Is he actually closing the discussion on crypto as money because eth>usd ? Does this mean we should be using Berkshire shares as money ? Or platinum ? Or are there criteria besides "value" that make something good as "money" ? Shouldn't he be looking into those instead of whining for half his blurb that people are being simplistic, while being incredibly simplistic himself ?

Is price the only criteria for file storage ?N What about performance, resilience, availability...

Are in-game NFT any more tradable than regular in-game items ?

His blurb actually took me a step further towards thinking that crypto is just a bunch of baselss claims. He sure does string them enthusiastically, with zero critical thinking.

Re: Where are all the crypto use cases?

#190

Post by koonsolo »

hiq wrote: post #181
koonsolo wrote: post #148

Earlier quoted context omitted.

Why are you proposing solutions that work badly or might work in the future? I gave you a solution that works today . Like I said: sub-second, 0 fee transactions (using Nano). Would love to see any of your traditional systems do better. Can you name one?

> 0 fee transactions You'd have to check how sustainable this is, Uber was (is?) also very cheap in some areas, just because it's massively subsidized. A solution that works today but not tomorrow and burns cash in between is not necessarily something you want.

I get it that you are sceptical. But you probably haven't looked at how Nano works. It's 100% distributed and is battle tested in practice.

The biggest challenge they had was protecting against spam. But a few releases back they solved this issue. Technically a very strong project.

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