this post was submitted on 20 Jan 2024
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Paying 5 dollars per transaction (more if it actually does see an increased use as currency) seems like a bad deal for most transactions outside of large international payments, and even then there's the hassle of conversion to a locally usable currency.
monero is the answer to this. Divisible into smaller parts and the fees cant go stupid high because of a dynamic block size. Fees are <=USD$0.01 per transfer and its being used as money not just for speculation.
It's used for actual payments because it's shamelessly crime friendly even by crypto standards, not because it has better block size handling.
This is why it's being increasingly blacklisted by exchanges facing regulatory pressure, which I would assume is why it's supposedly not speculated on that much.
Actually, that is a pretty good endorsement because if it can be used to commit crime, then that means that it remains private, which is why the government wants it off of exchanges so people can't easily get it. If they wanted to prevent crime, they would outlaw the US dollar first.
Facilitating ransomware is good actually, is quite the take. But yeah this is a 'we dislike all cryptocurrencies' zone.
Lol. I don't particularly like ransomware, but I am willing to deal with it to have privacy. Because the privacy to run ransomware gives regular people the privacy to do what they want to do that's perfectly legal. Take an extreme example. Forks should be banned because you can stab people with them. Maybe five people die per year of being stabbed by forks, but hundreds of millions of people eat with them and never stab anybody, so they should all be banned.
Oh please do tell us more about all the legal activity you're getting up to! What kinds of things are you buying?
I'm already missing r/bitcoins usertags. You certainly deserve one.
Bonus of no longer being on reddit, when weird people get banned they no longer can DM me personally because they confused me for being a reasonable person open to hearing more.
Except with crapto the proportion is the other way round, thousands of people use them to commit crimes but only tens of people use them legitimately.
So banning forks is a dumb thing, banning crapto is a boon to humanity.
Chain analysis companies even admit that about 1% of crypto use is for criminal activity. The other 99% is lawful use
Shit, here I thought that at least buying illegal drugs was a somewhat defensible reason to deal in crypto and now you're telling me 99% of it is not even for that?
You're not making monero look cooler, you're just making digital privacy look worse.
the 1% claim is a distorted version of a report from Chainalysis that said 1.5% of bitcoin use was definitely identified as crime
even then, they calculated this by carefully ignoring most of the crime
I dunno, sounds reasonable to me. Just like when recent studies by independent groups of experts on fintech enthusiasts found that investing in cryptocurrency was correlated with up to 70% increased body odor, a statistically significant drop in attractiveness and between one and three standard deviations below baseline level of self awareness.
The independent group consisted of me. The papers are available if you pay me 350€ for a yearly subscription to my journal.
time for you to fuck off now
and of course their entire post history is just generic crypto misinformation with a weird monero obsession
i, knowing the effects of ransomware on various institutions, am willing to deal with people who are willing to deal with it (on other people's systems) by kicking said people in the face. i hope you don't mind, nothing personal, really, just a policy matter.
That's why you put a cork on the end of the fork, for safety. Rubrect put a cork on fork, may I got to the bathroom? [short YouTube link]