I definitely understand your view on crypto, and I hate to be an apologist, but here’s a view you may not have considered:
I think mainstream society has gotten far too comfortable with the lack of privacy in our everyday lives, and this extends to finance. A company has no business tracking the data about my purchases, let alone selling it. The government doesn’t need to know everything I spend money on either.
As with most topics relating to privacy, it’s not that I worry about what I have to hide. I worry about your intention with that information. As one example, if I were needing to buy Plan B for an emergency contraceptive, there is a not insignificant portion of our government and the general population that frowns on that, and could paint me as a target in the future if it was known.
The problem is that crypto is not untraceable like it’s fans want to push. There have been multiple instances of it being tracked back and traced, by private individuals and law enforcement. It’s just debit card processing with extra steps and massive drain on resources.
Monero exists and is constantly being improved in that regard. And even traceability aside, you’re forgetting one massive usecase: unlike debit cards, its usage cannot be denied or restricted.
lol wat? I don’t know of a single local establishment that accepts Monero (or any other crypto) as payment (not saying it doesn’t exist, but it if so they are exceedingly rare). Seems pretty restricted to me. They also don’t seem to accept caps, eddies, gold, or spetims oddly enough.
Yes, but evading LEOs is good and buying drugs online in a free and open marketplace is my sacred, moral and god-given right than no glowie should infringe upon
I fully agree. I just also think crypto is terrible for that use case. If you’d be caught for using Venmo for drugs they can catch you using crypto. It might be harder, but that whole public immutable ledger means all they have to do is tie accounts to names. Which coincidentally you need to do to cash out or cash in.
Wait are you telling me that the company that ties a debit card to my name and is owned by the founder of a surveillance company and funder of fascists isn’t secure? /s But yeah, Venmo is the opposite of secure, but it’s filled a specific use case that cash is great for and that crypto often likes to act like it’s good for.
So what would it take for me to trust a cryptocurrency? Stability, wide use, actual security, and low transfer costs and risks. It’s competing with cash and Venmo for use case so it needs to actually compete with them.
I think crypto has more or less shit the bed here. BTC is created by a gold fetishist and is deflationary. The whole of normal people’s perception of crypto is that it’s an investment. There’s also the resource intensity of everything. There’s just so many problems here that cash just resolves.
Yea, crypto is not without its problems. But it is the closest we have to cash for online world. What would you really do when you can’t go somewhere physically? Send cash by mail? This is indeed an option in some places, but in other the cash has a high chance of not getting through at all.
AI has uses that aren’t about covering your tracks or evading law enforcement. Edit: bring on the downvotes, cryptobros.
I definitely understand your view on crypto, and I hate to be an apologist, but here’s a view you may not have considered:
I think mainstream society has gotten far too comfortable with the lack of privacy in our everyday lives, and this extends to finance. A company has no business tracking the data about my purchases, let alone selling it. The government doesn’t need to know everything I spend money on either.
As with most topics relating to privacy, it’s not that I worry about what I have to hide. I worry about your intention with that information. As one example, if I were needing to buy Plan B for an emergency contraceptive, there is a not insignificant portion of our government and the general population that frowns on that, and could paint me as a target in the future if it was known.
Not mine. Classic Murica problem, I suppose?
The problem is that crypto is not untraceable like it’s fans want to push. There have been multiple instances of it being tracked back and traced, by private individuals and law enforcement. It’s just debit card processing with extra steps and massive drain on resources.
Monero exists and is constantly being improved in that regard. And even traceability aside, you’re forgetting one massive usecase: unlike debit cards, its usage cannot be denied or restricted.
lol wat? I don’t know of a single local establishment that accepts Monero (or any other crypto) as payment (not saying it doesn’t exist, but it if so they are exceedingly rare). Seems pretty restricted to me. They also don’t seem to accept caps, eddies, gold, or spetims oddly enough.
Local establishments can use cash, so this is not a problem. Problems with cash begin when you try to pay, say, for a domain, or a server.
Yes, but evading LEOs is good and buying drugs online in a free and open marketplace is my sacred, moral and god-given right than no glowie should infringe upon
I fully agree. I just also think crypto is terrible for that use case. If you’d be caught for using Venmo for drugs they can catch you using crypto. It might be harder, but that whole public immutable ledger means all they have to do is tie accounts to names. Which coincidentally you need to do to cash out or cash in.
Using Venmo anonymously is much harder than XMR or even BTC, and probably illegal too.
Wait are you telling me that the company that ties a debit card to my name and is owned by the founder of a surveillance company and funder of fascists isn’t secure? /s But yeah, Venmo is the opposite of secure, but it’s filled a specific use case that cash is great for and that crypto often likes to act like it’s good for.
So what would it take for me to trust a cryptocurrency? Stability, wide use, actual security, and low transfer costs and risks. It’s competing with cash and Venmo for use case so it needs to actually compete with them.
I think crypto has more or less shit the bed here. BTC is created by a gold fetishist and is deflationary. The whole of normal people’s perception of crypto is that it’s an investment. There’s also the resource intensity of everything. There’s just so many problems here that cash just resolves.
Yea, crypto is not without its problems. But it is the closest we have to cash for online world. What would you really do when you can’t go somewhere physically? Send cash by mail? This is indeed an option in some places, but in other the cash has a high chance of not getting through at all.