Why Cryptocurrency?

[g5000]

What good is cryptocurrency?

Seriously. You can't use them at the grocery store. You can't buy gas with them. The only things you can buy with crypto are heroin, child porn, and stolen art.

It looks like a giant Ponzi scheme to me. Everyone is looking for a bigger idiot to take it off their hands.

 

[norwegen]

I'm under the impression that it can used for online purchases.

 

[g5000]

I'm under the impression that it can used for online purchases.

On the dark web. For child porn, heroin, other people's credit card numbers, and stolen art. Yes.

 

[Ringel05]

What good is cryptocurrency?

Seriously. You can't use them at the grocery store. You can't buy gas with them. The only things you can buy with crypto are heroin, child porn, and stolen art.

It looks like a giant Ponzi scheme to me. Everyone is looking for a bigger idiot to take it off their hands.

Here ya go:

Cryptocurrency for Dummies: A Beginner's Guide to Crypto

 

[g5000]

Here ya go:

Cryptocurrency for Dummies: A Beginner's Guide to Crypto

I know how crypto works.

It will never be mainstream.

 

[norwegen]

On the dark web. For child porn, heroin, other people's credit card numbers, and stolen art. Yes.

I just bought $800 worth of it this morning, just to have it, because supposedly its value should increase. I don't expect to do anything with it except sell it in the future.

Doesn't Amazon and eBay and all the rest accept cryptocurrency?

 

[Otis Mayfield]

What's even weirder is NFTs, non-fungible tokens.

If I make a piece of art, say. I can sell 10 digital copies of the art as NFTs for $1,000,000 each.

But it's all ethereal, made up!

 

[Ringel05]

I know how crypto works.

It will never be mainstream.

Maybe not but I think you're looking at it wrong, think trading/investing on Wall Street but instead of commodities, etc you're trading/investing in money. But it also allows the currency owner to make purchases.

 

[JohnDB]

What good is cryptocurrency?

Seriously. You can't use them at the grocery store. You can't buy gas with them. The only things you can buy with crypto are heroin, child porn, and stolen art.

It looks like a giant Ponzi scheme to me. Everyone is looking for a bigger idiot to take it off their hands.

There are a few places that you can use it to pay for goods and services with...

The whorehouses and a few restaurants...

Problem is that they charge a 20-30% convenience fee for paying with cryptocurrency than with cash.

 

[g5000]

I just bought $800 worth of it this morning, just to have it, because supposedly its value should increase. I don't expect to do anything with it except sell it in the future.

Doesn't Amazon and eBay and all the rest accept cryptocurrency?

No. Neither Amazon nor eBay accept crypto.

As for "supposedly" increasing value, have you ever looked at the price of crypto over time? It is as volatile as natural gas prices.

 

[g5000]

What's even weirder is NFTs, non-fungible tokens.

If I make a piece of art, say. I can sell 10 digital copies of the art as NFTs for $1,000,000 each.

But it's all ethereal, made up!

Yeah, the NFT thing is bizarre. But then the art market has been going insane for quite a while now. People are running out of things to invest all the cash the planet is awash in.

 

[norwegen]

No. Neither Amazon nor eBay accept crypto.

As for "supposedly" increasing value, have you ever looked at the price of crypto over time? It is as volatile as natural gas prices.

I can afford to lose $800.

 

[JohnDB]

I can afford to lose $800.

Tell you what...
Give me $400, I'll kick you in the nuts and tell you "Better luck next time" and we both will be up $400.

 

[norwegen]

Tell you what...
Give me $400, I'll kick you in the nuts and tell you "Better luck next time" and we both will be up $400.

Apples and oranges. My crypto vendor did not say he would kick me in the nuts after I paid him.

 

[JohnDB]

Apples and oranges. My crypto vendor did not say he would kick me in the nuts after I paid him.

I don't think that you understood the joke.

Playing with cryptocurrency is like gambling...and a person always feels like they got kicked in the nuts when he loses at the gambling tables and loses all his money.
This way we both would be up after walking away from the gambling table.