Actual use of crypto?

[Anonymous No.13600866]

What is the actual use of crypto?

I've been reading a bit about Bitcoin. Ostensibly it might save you money for international money transfers, which can sometimes have high transfer fees with banks, while Bitcoin fees are typically much lower. Okay, fine.

But a lot of people never transfer money to international bank accounts. Most people, if they do send money to another account, are typically paying their friends, or relatives, or maybe they're paying their rent, etc. - the point is these will be domestic transfers, which typically have zero fees (at least in my country, the UK).

So what is the actual use case and benefit of using something like Bitcoin? I will concede it looks like it is cheaper for paying money internationally. But for the average Joe, who probably never sends money internationally, what's the point?

[Anonymous No.13600879]

We have no time to explain, but, basically, to get mother fucking rich and make it.

[Anonymous No.13600887]

>>13600866
>What is the actual use of crypto?

decentralized thot brapper on my face

[Anonymous No.13600901]

>>13600866
Inherently better for online payments, you don’t expose your funds like you would with a CC. Also, microtransactions through lightening network will spawn an entirely new wave of internet commerce. Being able to pay pennies/fractions of pennies real time online has never been possible until now. Non-human economic participants can now participant in the economy with Bitcoin and even pay other non-human participants for data, energy, etc.

[Anonymous No.13600909]

Selling to the greater fool for more dollars.

[Anonymous No.13600910]

Right now is only speculation and dark markets,
all this will change on April 15.
Satoshi

[Anonymous No.13600920]

>>13600866
For example this.

https://www.google.cz/amp/s/www.coindesk.com/pepsico-blockchain-trial-brings-28-boost-in-supply-chain-efficiency%3famp

Unfortunately most shitcoins like BTC and ETH have zero use cases.

[Anonymous No.13600928]

>>13600879
+1
this short version is absolutely correct

[Anonymous No.13600937]

>>13600866
The main use case for Bitcoin specifically is being a store of value and/or hedge against certain risks in the financial markets. Much like gold. On top of that, using Bitcoin can make sense for large transfers/payments.

[Anonymous No.13600960]

>>13600937
Oh, and if it wasn't obvious, using crypto for micro transactions is a huge meme. That is NOT the bull case for Bitcoin.

[Anonymous No.13600963]

Read “The Bitcoin Standard: The Decentralized Alternative to Central Banking” it’s 250 pages so should take you a week if you’re not an absolute brainlet, it’s arguably the best store of value against depreciation currencies and better than gold due to its convenience of use and liquidity ( you’d have to request gold to be moved by some centralized force which could take god knows how long or ur gold can easily be seized) etc read into it brainlet, also there will only ever be 21 million which if u consider the amount lost and Satoshis wallet can put that to like 19 million tied in with halvenings and you have the ultimate protection against inflation

[Anonymous No.13600964]

>>13600909
This
It otherwise has no true application or use, only shady shit. Imagine every time you spend a dollar, you have to write your name, address, SSN and birthday on it and, voila, you captured the essence of crypto. Anything anyone says otherwise is pure shill or delusion.

[Anonymous No.13600992]

It’s money that can be sent anywhere in the world, almost instantly, without the need for permission or a third party. Anyone in the world can participate, if they have access to a rudimentary smart device. There is over a billion people in the world who are unbanked. It banks the unbanked. It cannot be seized, or censored. All of these things give it value.

[Anonymous No.13601078]

>>13600963
https://blockexplorer.com/news/how-many-bitcoins-are-there-hint-not-that-many/

Read this too, due to the amount lost, stolen, to be mined and held by whales only about 7 million people can hold 1 full bitcoin

[Anonymous No.13601101]

>>13600866
Zero usage
But that’s not why anyone is here I promise you

[Anonymous No.13601227]

>>13600879
>>13600909
>>13600910
>>13600928
Well that's what I suspected, its value seems to currently be driven solely by speculation. A bit like Beanie Babies - people bought them because they thought they'd get rich. Now no one gives a shit about them and they're worth nothing. People lost huge amounts of money on these things.

>>13600920
That's a use case for blockchain tech but not for cryptocurrencies like Bitcoin or Ethereum or whatever.

>>13600960
I understand Lightning is meant to facilitate smaller transactions. I don't know much about it though. I guess if it offered businesses lower fees (since they currently have to pay fees on card payments to the operators like Visa and MasterCard, right?) then maybe it would take off. But I have no idea how the fees compare.

>>13600963
>it’s arguably the best store of value
It is only a good store of value if it is worth something. And it's only worth something if it has a compelling use.

Gold is valuable because it has uses: jewellery and electronics are two big uses of gold I can think of immediately. Gold is always in demand in both of those industries. Will Bitcoin always be in demand? Like I said in the OP, the only compelling case to use Bitcoin, really, is to avoid bank transaction fees on international payments. But even in this use case, Bitcoin is not a great solution, it seems: https://www.finder.com/how-bitcoin-compete-money-transfer-market

>there will only ever be 21 million
My toenail clippings are scarce - I can only produce them so quickly. Does this mean they are inherently valuable? No. Scarcity by itself does not make something valuable. Something is only valuable if, like I said, it has a compelling use.

[Anonymous No.13601343]

>>13601227
not only speculation, bitcoin is also the shit. speculation is part of it but a small part. but DYOR

[Anonymous No.13601452]

>>13600992
Is it actually being used for this purpose though? There are lots of money transfer and remittance services worldwide and they are very popular. Some of them have very low fees. Bitcoin is famously volatile. This article here seems to suggest that Bitcoin is a poor choice for money transfer: https://www.finder.com/how-bitcoin-compete-money-transfer-market

E.g. they say that you will lose money when you convert your currency into BTC (since changing any currencies usually comes at a cost - the exchange won't give you the best exchange rate available because they want a cut), and then the recipient will lose money again when they convert from BTC to their local currency.

>It banks the unbanked.
Bank accounts are probably more attractive for most consumers though. Bank accounts offer a safe storage of your money - in my country, the UK, deposits in banks are covered by the Financial Services Compensation Scheme up to £85,000 per person per bank. So if your bank goes bankrupt, the government will give you your money back. If you have more than £85k then you can just split it between banks so that there's £85k or less in each and it will all be covered.

Bitcoin offers no such protections.

>It cannot be seized
Thefts from Bitcoin exchanges are famously common. Whereas if you had your money in a UK bank account, then like I said, your money is covered by the FSCS. But if you have Bitcoin, and you lose it, tough luck.

>>13601101
Does no one ever stop to think "if this asset has no real value to it other than that which is driven by pure speculation then maybe it's not a very good investment since its perceived value can crash at any time"?

[Anonymous No.13601462]

>>13601227
Salty nocoiners are returning

Definitely pumping today.

[Anonymous No.13601545]

Gidital gold.

[Anonymous No.13601558]

Store of Value.

[Anonymous No.13601579]

digital gold

a world reserve currency outside of any central bank's control

[Anonymous No.13601580]

>>13600866
crypto = hackproof / dupeproof content/platforms.

That's about it.

If you make a portal gun and goto another reality, your bitcoin is worth that bitcoin if the locality is the same, the dollar might be different but the bitcoin code is the same.

It's space money for when they reveal ''marvel'' stuff is real.

[Anonymous No.13601636]

>>13601579
>digital gold
>a world reserve currency
BCH is both gold and currency. BTC is only gidital gold.

[Anonymous No.13601678]

>>13601227

Gold is not valueable because of industry and jewellery use, that's only a tiny fraction of the demand. It's value is almost entirely based on being a store of value.

[Anonymous No.13601693]

>>13600866
there is no use case. its all a big meme. people buying it are all sitting on it hoping to get rich. since we live in clown world, it might actually happen.

[Anonymous No.13601695]

>>13601678
Gold can't replace money because it's hard to divide and to use in practice.

[Anonymous No.13601723]

>>13601227
> Gold is valuable because it has uses:
No it's not. Sounds like you haven't done a lot of reading on the topic. The VAST majority of the demand for gold comes from investing/hedging. Bitcoin IS being used for things other than speculating/investing (pic reated), but that's not the main reason why Bitcoin has value. The same goes for gold.

[Anonymous No.13601752]

>>13601723
My point is that if people weren't investing in/hedging with gold, the market cap of gold would be WAY lower (-75% or more). The same goes for BTC.

[Anonymous No.13601767]

>>13601723
Forgot the pic.

[Anonymous No.13601781]

>>13601227
>That's a use case for blockchain tech but not for cryptocurrencies like Bitcoin or Ethereum or whatever.
Centralization (aka blockchain being employed by regular companies) defeats the entire purpose of blockchain.

[Anonymous No.13601827]

Uhm anon, we have noticed an unusual spending activity on your account and blocked it for security reasons. Everything is probably okay, and we can unlock it in ten business days, but can you please send us a scan of your anus just to make sure?

[Anonymous No.13601867]

>>13600866
Gambling platform built on the delusion of a decentralized monetary system that can be totally bought by traditional institutions

[Anonymous No.13602152]

>>13601827
>banks trying to protect your money from thieves who may have accessed your account is a bad thing - i would much rather that my money got stolen by hackers on a bitcoin exchange instead!
Based brainlet.

[Anonymous No.13602155]

I still don't understand how anyone but the luckiest most early adopters (and only of BTC) can make enough money to retire on (ie "make it").
Everything seems to be revolved around shilling for the latest altcoins which at the best ascend beyond jokes like ETH, exchanges that turn out to be scams, and at the end of the day it's still all about converting back to BTC and in turn to fiat jew money.
Seems like a bad joke.

[Anonymous No.13602181]

>>13601723
>>13601752
>>13601767
>The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.
https://en.wikipedia.org/wiki/Gold

Well golly, I didn't do a maths degree so I'm not sure about this one, but isn't 40% less than "the majority", let alone "the VAST [capital letters completely necessary, of course] majority"?

I'm not sure about this one chief, I think we're gonna need to call a number wizard.

[Anonymous No.13602194]

>>13600866
It's main benefit is being an asset with governments and authorities can't fuck with.

Wanna send money to some African warlord to pay for drugs guns and hookers? No problem.

But looking at some examples of the lightning network such as tipping on twitter it is apparent there isn't really a 'cash of the internet' where you can make small, fast, instant payments without fucking around with credit cards.

[Anonymous No.13602359]

>>13602181
See that word "new"? See how I didn't use it in my reply? Have you heard about gold deriviatives and derived demand?

[Anonymous No.13602521]

>>13600866
The United Nations Office on Drugs and Crime's World Drug Report 2005 estimates the size of the global illicit drug market at US$321.6 billion in 2003 alone.[1] With a world GDP of US$36 trillion in the same year, the illegal drug trade may be estimated as nearly 1% of total global trade. Consumption of illegal drugs is widespread globally and remains very difficult for local authorities to thwart its popularity.
BUY MONERO. if monero even captures 0.1% of this we're a 4-5 figure coin. gg faggot bitcoin.
FACT: monero transactions quadrupled this past month
see: monero.how

[Anonymous No.13602700]

It is the ultimate globalist currency. The ability to move money around the whole planet uninterrupted at this scale has never been done before BTC. This can be used by criminals and the wealthy alike. This is a currency which can withstand the collapse of banks, the collapse of nations, and escape bank runs on insolvent financial institutions. It is all backed by the most secure distributed redundant global computing project to ever exist. I don't think people quite understand just how important this is.

[Anonymous No.13602719]

>>13602700
/thread

[Anonymous No.13602729]

>>13600866
Hi dumdum,
Imagine gold... except you can teleport it and it is easily divisible. Would that have value?

[Anonymous No.13602732]

>>13601767
And how much of that transaction volume is phantom transactions, ie whales wash trading back and forth? I find it very difficult to believe that crypto transactions exceed that of PayPal for the real exchange of goods and services

[Anonymous No.13602757]

>>13600866

Money laundering

[Anonymous No.13602803]

BTC's only use is trading shitcoins and going up in price. Bitcoin wasn't suppose to be this way, but I'm learning to just accept it because why would anything nice ever happen.

[Anonymous No.13603098]

>>13600866
- no central authority debasing the currency and making you poorer every passing year, mainly

[Anonymous No.13603131]

>>13601227
well, it seems like you already formed an opinion and Crypto is not for you as you don't see its potential use cases

[Anonymous No.13603298]

>>13601227
Gold is not valuable because of its uses
Plenty of other metals look the same when polished and are used to make fake jewelry all the time, silver and silicon are also used for electronics so gold is not "needed" there either

Gold is valuable BECAUSE it is a good store if value: dense, malleable, not made naturally on Earth, pretty looking, and scarce

[Anonymous No.13603459]

>>13600866
I cant speak for BTC, but ETH is a distributed computer for trustless transactions. Whats going to happen when smart contracts, IoT connected sensors, and distributed oracles become more developed? It will likely start with insurance, most likely car insurance. Someone will start an insurance company, and this company will be entirely automated. This will provide a few advantages to traditional insurance companies.
1) This company will be able to offer lower rates, due to no overhead costs being sucked up by office workers
2) It will be trustless, so there will be no arguing with insurance agents. If you get into an accident, you will be compensated exactly what is required to fix it.
3) Using data feedback from IoT sensors, the company will be able to optimize the rates for maximum profits.
This company will quickly become the cheapest, most used, and most profitable car insurance company in the world. By far. And insurance is only the beginning. Government, banking, lawyers, are all square in the sights of smart contracts. Just think about how much money these areas are worth.

[Anonymous No.13603761]

>>13600866
>>13601227
>>13601452
>>13602152
>>13602181
https://files.catbox.moe/7xgjhx.webm
https://youtu.be/-ps5Tu0kdPY?t=1403 (23:23)
https://youtu.be/6JsL3L6kQQE?t=618 (10:18)

[Anonymous No.13603779]

>>13603761
after reading/watching those, lemme know if you still have any questions

[Anonymous No.13603805]

>>13603779
https://youtu.be/NkNgaAYbVGU

this is a pretty good one too

[Anonymous No.13603868]

>>13603805
https://youtu.be/ebRC61AqWHs?t=1281 (21:21)

to sum it all up though, this is where we're at

[Anonymous No.13603911]

>>13600866
>What is the actual use of crypto?

Decentralized infrastructures where you can run a business and the cost of upkeep is evenly divided to its userbase. Either through staking or transaction fees.

The next Facebook for example can easily be run on a cryptocurrency and it would be superior on many fronts.

[Anonymous No.13603985]

>>13600963
> 250 pages
> a week

Nigga that’s like a few hours in the afternoon at best

[Anonymous No.13604000]

>>13600866
unconfiscateable
deflationary
easily transacted
trustless
permissionless
publicly auditable
ledger
that is secure

[Anonymous No.13604040]

>>13600866
What’s the actual use of gold? It’s only worth something because people believe it is. It’s really just a rock. Apply that to crypto and soon the masses will believe this as well.

[Anonymous No.13604057]

>>13600920
Lmao zil cope. Sorry buddy that ship has sailed. Zil is doa. 2.0 is coming out. Strap in or kys

[Anonymous No.13604069]

>>13600866
No one, even the exwife can take your money. When your constitutional republic becomes a totalitarian communist peoples state, you can pick up and move to Mars and take all your wealth with out so much as a suitcase.

[Anonymous No.13604077]

Comfy anon here, doing nothing while gaining money just using my phone, Pi network is the future.

Join now before its too late.

Download the pi network app, You need a referral code to join so here
Code : minepi.com/gone

[Anonymous No.13604100]

>>13604000
these are properties
OP is asking: What is the actual use of crypto?

the answer is to sell it to a greater fool - BTC litecoin XRP
or to launder money - monero zcash zcoin
or some utility token use - but then again why use the token and not money, makes you think

[Anonymous No.13604112]

>>13600866
A speculative instrument, just like 99% of cryptos.
About 1% actually 'do' something, the platform coins like eth, neo etc then the privacy coins so septic tanks can buy cp.
For some reason everyone thinks litecoin is the only coin that doesn't 'do' anything.

[Anonymous No.13604147]

>>13604100
see>>13603761
>>13603779
>>13603805
>>13603868

[Anonymous No.13604213]

>>13604147
you are talking about what is
not about what is the use for that

the only real world use for BTC is to make more fiat by offloading your bags onto idiots

[Anonymous No.13604223]

>>13604213
see>>13604147

[Anonymous No.13604224]

>>13604100
whatever you want to do with those properties. that is the use of money? whatever the fuck you want to use it for.

[Anonymous No.13604251]

>>13604224
problem with money is acceptance
lets say we have the perfect money
if the monkey you are dealing with don't understand it wont matter

[Anonymous No.13604278]

>>13604040
You know, you could have compared it to, oh... a nearly worthless METAL???!! "basically a rock" fuck...

[Anonymous No.13604280]

>>13604251
that's the same argument as for a brick. give a monkey a brick what use it will find for it? it can't build a house it can't eat it.

it's up to you what you use things for. bitcoin is the perfect money (except for the deflationary part that actually makes it bad for money)

[Anonymous No.13604300]

>>13604077
"Leverage your contacts, uses no battery!"
OMFG, this is such a fucking datamining scam...

[Anonymous No.13604316]

>>13604280
bitcoin is not censorship resistant because it is not fungible
cash money in had is more resistant than BTC and is fungible

gold has intrinsic value
so do cigarettes or alcohol

money is debt, crypto is not confiscateable therefore cannot serve as debt instrument therefore cannot be use for financial engineering therefore it cannot be money for all, it can be money for some

[Anonymous No.13604319]

>>13604280

No, deflation is good for money. Unless you value jobs and work that don't add value to society.

[Anonymous No.13604355]

>>13604316
>https://youtu.be/AXH3GOuOGuI

[Anonymous No.13604367]

It's a store of wealth that's not controlled by banks or governments

That's basically it

Nobody cares about if you can use it as cash or not, when gold was backing the monetary system people still used paper cash and gold still had value

[Anonymous No.13604374]

>>13604367
yeah you locked your bitcoin at 15k in your trezor right

[Anonymous No.13604384]

>>13604374
cope

[Anonymous No.13604389]

>>13604384
I will buy back sub 1k
this year

[Anonymous No.13604530]

>>13600866
It's a counter economic device to ditch fractional reserve banking.
Gold/silver would be the natural solution, but you just can't transmit gold digitally. Bitcoin is native to a digital environment.
But much like precious metals, merchants are reluctant to give a secondary currency a chance, even if the volatility works in their favor.

[Anonymous No.13604537]

>>13601452
Holy shit, those arguments are absolutely terrible. The whole reason BTC is better than a bank is because it's trustless and decentralized. Bank accounts obviously arent available for unbanked people you idiot. BTC offers no protections because it isnt a bank and can't be hacked. Obviously cryptocurrency exchanges can be but they are antithetical to the entire reason why bitcoin exists - not your keys, not your coin. Nobody with half a brain keeps all their money on an exchange.

[Anonymous No.13604547]

>>13604300
You should check it out yourself, youll understand how amazing it is.

[Anonymous No.13604558]

>>13604278
Imagine letting someone like this make you seeth this hard lmao kys

[Anonymous No.13604682]

>>13604547
No.

[Anonymous No.13604758]

>>13604213
What is the use for the dollar?

[Anonymous No.13604801]

>>13604374
>>13604389
Oh nevermind that explains it, he's a retarded bearposter. See you at $10K

[Anonymous No.13604853]

>>13600937
>Hedge against..
Stopped reading they're

[Anonymous No.13604937]

>>13604389
COPE

[Anonymous No.13605229]

Double your eth with art ponzi
https://0xowns.art/split/owner/0x70b94d8cae6d45997586ca85ebee6596b602bfc6

[Anonymous No.13605295]

anyone know where i can acquire bitcoin

[Anonymous No.13605314]

>>13600866
Do summer faggots like you go to school or work and then when summer hits you decide to browse /biz/?