I think this prompted investors to ask "where's the ROI?".
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untorquer@lemmy.worldreplied to Guest on 28 Jan 2025, 05:10 last edited by
Wtf? Venmo / cashapp are descendent from PayPal which was released ages before any major crypto.
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aesthelete@lemmy.worldreplied to Guest on 28 Jan 2025, 06:06 last edited by
It took weeks to move big money around.
Lol this is just either a statement out of ignorance or a complete lie. Wire transfers didn't take weeks. Checks didn't take weeks to clear, and most people aren't moving "big money" via fucking cash app either.
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themachinestops@discuss.tchncs.dereplied to Guest on 28 Jan 2025, 06:30 last edited by
You fogot NSFW content, many people are making money using it.
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themachinestops@discuss.tchncs.dereplied to Guest on 28 Jan 2025, 06:41 last edited by
Forget bitcoin, Monero in my opinion is how crypto was supposed to be. Monero is untracable compared to bitcoin.
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themachinestops@discuss.tchncs.dereplied to Guest on 28 Jan 2025, 06:44 last edited by
It depends on the bank and the amount you are trying to move.T here are banks that might take a week or so and there are banks that might do it instantly. I once used a bank in the US to move money and they sent a physical check.
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msage@programming.devreplied to Guest on 28 Jan 2025, 06:57 last edited by
Big money is being held because of anti-money laundering, not because of technology.
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alvvayson@lemmy.dbzer0.comreplied to Guest on 28 Jan 2025, 07:03 last edited by
I disagree.
Like it or hate it, crypto is here to stay.
And it's actually one of the few technologies that, at least with some of the coins, empowers normal people.
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buckshot@programming.devreplied to Guest on 28 Jan 2025, 07:06 last edited by
Since before bitcoin we've had Faster Payments in UK. I can transfer money directly to anyone else's bank account and it's effectively instant. It's also free. Venmo and cashapp don't serve a purpose here.
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themachinestops@discuss.tchncs.dereplied to Guest on 28 Jan 2025, 07:08 last edited by
I am not taking about money being held, I talking about regulations and horrible banks not technology. Yes, the current technology allows you instant transfer, but it still depends on the bank. For example some banks allow free international transfers while others require a small fee, some banks you can do the transfer online while others you have to go to the branch in person.
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aesthelete@lemmy.worldreplied to Guest on 28 Jan 2025, 07:09 last edited by
Wire transfers are how you handle actual big money transfers and it doesn't take weeks.
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themachinestops@discuss.tchncs.dereplied to Guest on 28 Jan 2025, 07:14 last edited by
International transfers do take time, domestic is instant.
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aesthelete@lemmy.worldreplied to Guest on 28 Jan 2025, 07:17 last edited by
1-5 days isn't "weeks".
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themachinestops@discuss.tchncs.dereplied to Guest on 28 Jan 2025, 07:19 last edited by
Oh, I thought he said days not weeks. If it takes weeks they probably suspect you of money laundering.
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themachinestops@discuss.tchncs.dereplied to Guest on 28 Jan 2025, 07:20 last edited by
It does empower normal people, unfortunately regulations make it harder to use. Try buying Monero, it is very hard to buy.
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alvvayson@lemmy.dbzer0.comreplied to Guest on 28 Jan 2025, 07:24 last edited by
They have made it harder, but it's not really hard.
Just buy any regulated crypto and convert. Cake Wallet makes it easy, but there are many other ways.
I myself hold Bitcoin and Monero.
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daellat@lemmy.worldreplied to Guest on 28 Jan 2025, 07:29 last edited by
Same in NL most (all?) banks here have an app that lets you transfer money near instantly, create payment requests, execute payments for online orders by scanning a code, etc. It's great I think.
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atempuser23@lemmy.worldreplied to Guest on 28 Jan 2025, 07:51 last edited by
crypto that uses block chain is 100% not private. The whole point of the blockchain is that every single transaction is logged and verifiable for the life of the coin. It's decentralized so you don't need to involve a bank, that not the same as private.
Cash transfers are private. That is why there are so many restrictions on cash transactions at banks and borders.
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themachinestops@discuss.tchncs.dereplied to Guest on 28 Jan 2025, 08:06 last edited by
Look up Monero, it is a crytpo currency that as far as I know no one has been able to trace.
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anagrammadicodeina@feddit.itreplied to Guest on 28 Jan 2025, 08:56 last edited by
In europe i can send any amount (like up to 100k ) in just a few days since 20 years, to anyone with a bank account in europe, from my computer or phone.
Also, since 2025 every bank allows me to send istant money to any other bank account. For free.
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fighttoadapt@slrpnk.netreplied to Guest on 28 Jan 2025, 09:10 last edited by
I'm not saying that it doesn't have any uses but the costs outpace the investments done by a mile. Current LLM and vLLMs help with efficiency to a degree but this is not sustainable and the correction is overdue.
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