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Early_To_Risa@sh.itjust.works

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Anon gives up on Bitcoin in 2010 (sh.itjust.works)

submitted 1 week ago by Early_To_Risa@sh.itjust.works to c/greentext@sh.itjust.works

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[–] doylio@lemmy.ca 1 points 6 days ago (1 children)

The whole point of crypto is you don't need to hold it on an exchange. And there are other real reasons to use crypto today such as cheap & fast international settlement, protecting your assets from authoritarian governments.

I agree there's lots of speculation, and I'm not someone who believes it's likely to replace the dollar, but it's also clear there are legitimate uses

[–] merc@sh.itjust.works 1 points 6 days ago (1 children)

You don't need to hold it on an exchange, but you need an exchange. You need some place where you can find people who want to buy Argentine Pesos and sell Bitcoin so that you can buy Bitcoin and sell your Argentine Pesos.

cheap & fast international settlement

You think Bitcoin is cheap and fast?

[–] doylio@lemmy.ca 1 points 5 days ago (1 children)

Certainly cheaper and faster than Western Union, but yeah it's horribly slow by modern blockchain standards

[–] merc@sh.itjust.works 1 points 5 days ago

Also slow compared to actual payment processing networks for real money.