I just know where to buy the drugs i want here in town, and then i offer cold hard cash that can’t be traced back to me, even if the dealer rats me out. Much safer and more secure than buying them online.

Yobs like this always come out the woodwork when Bitcoin hits an all time high, talking about how cryptocurrency isn’t all bad, but once you push them it’s the same tired old talking points. They don’t want to help you financially. They just want you to hold their bag while they cash out.

Edit: if you are familiar with the Alt-Right Playbook series by Innuendo Studios, Crypto Bros use the exact same strategies he points out. That’s why it shouldn’t surprise anyone that crypto firms were the largest donors to Republican campaigns this election season. Just something to think about as people keep espousing how crypto is gonna change the world…

I’d say you’re right for 99% of it, but there is 1% that’s genuinely useful.

I asked what that 1% of useful applications are and he gave a whole dog and pony show to avoid giving any examples. He said that there are times where cryptocurrency is better than your government’s currency (assuming you are in a stable country with a stable currency).

Bitcoin was developed by dudes upset by the 2008 financial crash who wanted to be the ones on top the next time everything imploded. Bitcoin is 100% useless at anything other than speculation.

A small bit of inflation encourages people to spend their money and keep the economy moving. Because if your currency is going to be worth more tomorrow than it is today, your incentive is to hoard it and mever soend a dime unless absolutely necessary.

Way more people have lost everything because where they keep their cryptocurrency went under than their bank freezing their accounts. Banks only close your account if they suspect you are doing highly illegal and fraudulent stuff. And of i forget my credentials, my bank has a process where i can access my money again after 5 minutes of KYC. If someone DOES fraudulently access my account without my authorization, the bank will fully restore my account and go after the fraudster.

I dont trust the US goverment any more than you do, but Uncle Sam isn’t interested in what his greenbacks are worth compared to other currencies. All he cares about is that i pay my taxes in USD.

You posted all that text, and still haven’t given an actual example of where cryptocurrency out performs USD for someone just going about their daily life.

And i have been using my bank account and cash to pay all my bills since i have had bills to pay. What’s the advantage of using something that is less convenient, less secure, and more resource intense than a normal checking account with direct deposit? You keep dodging the question on what use cases you think crypto currencies have an advantage over fiat currency.

So you don’t have an actual use cases then.

Please elaborate on what this magical 1% that you feel is useful and worth expending the same amount if energy as Australia

Your spending that much on a used phone? I can’t phantom paying more than $600 for one