Then they will ask why nobody wants to use their payment cards
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The main reason I don't care for bitcoin is I have to count a bunch zeros after the decimal point, before reaching a useful number.
$1 = 0.000006128921 btc? Really? Screw those zeroes. Bitcoin is inefficient in so many ways.They should bring in subunits like an MMO. 1 bitcoin (118905USD) = 100 bitsilver
1 bitsilver (1189.05USD) = 100 bitcopper
1 bitcopper = 11.89USDIt doesn't even make any different to the number of bitcoin used, its just a more user friendly way of displaying it for small purchases.
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It's modern commerce. Participating in it at all associates you with shady characters. It's unavoidable.
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Fiscally responsible people do it because of the cash back/perks and 0% interest.
Fiscally irresponsible people do it because 'free money' (ignoring the 28% annual interest).
Credit cards also offer better consumer protections than debit cards. Ex: chargebacks.
wrote last edited by [email protected]This is not true for many countries. Debit cards in my country have equal or even better consumer protections than credit cards and are also cheaper.
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The main reason I don't care for bitcoin is I have to count a bunch zeros after the decimal point, before reaching a useful number.
$1 = 0.000006128921 btc? Really? Screw those zeroes. Bitcoin is inefficient in so many ways.It was far less valuable when it first started becoming trendy. 1 BTC for a pizza, or whatever. Now it's turned into a hyperinflation wheelbarrow kind of situation.
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1 dollar is currently worth .0000084 BTC; or, 840 Satoshi if zeros scare you.
What if foreign words scare me more?
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The main reason I don't care for bitcoin is I have to count a bunch zeros after the decimal point, before reaching a useful number.
$1 = 0.000006128921 btc? Really? Screw those zeroes. Bitcoin is inefficient in so many ways.It's one of the least bad things about it, and if not for approximately twelve thousand bad things about it, would be easily fixable.
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You've done it! You've fully killed Bitcoin! Now it will certainly become irrelevant! In 5 years, the top answer for "what would you do if you had a time machine and went back 5 years?" definitely won't still be "Buy more Bitcoin."
Have you heard of the lottery?
Whole-ass time travel to "buy more bitcoin", what a clown.
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The main reason I don't care for bitcoin is I have to count a bunch zeros after the decimal point, before reaching a useful number.
$1 = 0.000006128921 btc? Really? Screw those zeroes. Bitcoin is inefficient in so many ways.If that's the biggest complaint you have about it, it's probably not that bad.
I don't mind Bitcoin itself, but I do hate the ads and NFTs and pump and dump scams, obviously
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Technically true, but chains nowadays aren't really vulnerable to that same kind of attack just due to their sheer scale and diversification of controlling stakes compared to what they used to be, so I wouldn't consider it a particularly relevant issue today.
The relevant part isn’t which mistake happened, but that the fact that no mistake can be reversed.
Fixing one mistake is great and all, but it’s still a method of accounting whose ledger — by design — cannot be revised.
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They should bring in subunits like an MMO. 1 bitcoin (118905USD) = 100 bitsilver
1 bitsilver (1189.05USD) = 100 bitcopper
1 bitcopper = 11.89USDIt doesn't even make any different to the number of bitcoin used, its just a more user friendly way of displaying it for small purchases.
Transfer failed.
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Crypto remains a pyramid scheme masquerading as a resistance against tyranny
Ironically you know what ACTUALLY protects from powergrabs by payment processors? A fully centralised, government backed form of digital cash that is fully equivalent to paper money.
Ask a Brazilian about pix. Super low fees (often feeling non existant). And transactions can't be invalidated on the whims of a corporate board. For something to not be buyable by pix it has to be illegal, thus having to go through every layer of checks and balances a democracy has.
The problem with visa and their ilk is that finance has been privatised. Too much power in the hands of corporations that have deftly dodged regulation that would keep them neutral and honest. Thinking privatising things further and turning everyone into a fully unregulated petty digital landlord is gonna solve anything rather than make it worse is foolhardy.
When I heard elon is the primary holder of bit, I knew it was to be trusted. He's a liar and insecure. Plus his penis looks like a sick dogs vomit.
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If that's the biggest complaint you have about it, it's probably not that bad.
I don't mind Bitcoin itself, but I do hate the ads and NFTs and pump and dump scams, obviously
Bitcoin is its own worst enemy. It's deflationary, speculative, and largely interacted with by centralized entities. Those things means its unlikely to be successful as an actual currency; even one it hopes to be.
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Just wait until somebody proposes an AI powered blockchain…
Stop giving them ideas
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It’s not quite the same as a traditional cryptocurrency but I look forward to seeing the results of the EU trial
yeah its more like "Open source visa/mastercard"
Mostly yeah, but AFAIK it did have additional privacy advantages
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I honestly never understood how Lemmy, a privacy and decentralisation focused community, is so vehemently anti-crypto. It's worse than genAI. Every time it is mentioned, everyone goes "crypto is a scam". I don't think I've ever seen any good faith discussion around it, just "scam", "pyramid scheme", and "only criminals use it".
Let's get something out of the way immediately: shitcoins are a literal pyramid scheme and a scam. Anyone can make their own cryptocurrency in an evening, and anyone who throws money at them is either a fool or a gambler.
But I really don't understand what people mean when they say Bitcoin, or Ethereum, or Monero are a scam. Sure they can be used to scam you, just like Amazon gift cards can. Maybe it's about the price volatility, but the price of all 3 mentioned before is up on a day, week, month, 6 months, year, and 5 year scale. It's volatile, but is not a scam. If you bought and sold at two random points in time, it's more likely you made a profit than "got scammed".
You know what actually is a scam? Credit scores, overdraft fees, having to pay to check your balance, and so many other fucked up practices in the US banking system."Criminals use them" is just the worst fucking argument, especially in a space like this. Are PGP, VPNs and TOR for criminals too? Do you think getting rid of crypto would stop crime?
And yes, proof of work fucking sucks. The energy consumption of Bitcoin mining is a problem. I am not a cryptobro who spends all his time making trades and is here to tell you that crypto is the salvation. They are far from being "good" for everyday use. I just wanted to point out how it seems that critical thought gets shut down at the sight of those 6 letters, and I hope someone can explain to me what they find so terrible about crypto (aside from environmental concerns and shitcoins)
You forgot shoes! Criminals use shoes, too! So everyone wearing shoes must be a criminal. Either that, or they were scammed into wearing shoes.
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Crypto is to peacocking men what MLMs is to american housemoms.
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Crypto remains a pyramid scheme masquerading as a resistance against tyranny
Ironically you know what ACTUALLY protects from powergrabs by payment processors? A fully centralised, government backed form of digital cash that is fully equivalent to paper money.
Ask a Brazilian about pix. Super low fees (often feeling non existant). And transactions can't be invalidated on the whims of a corporate board. For something to not be buyable by pix it has to be illegal, thus having to go through every layer of checks and balances a democracy has.
The problem with visa and their ilk is that finance has been privatised. Too much power in the hands of corporations that have deftly dodged regulation that would keep them neutral and honest. Thinking privatising things further and turning everyone into a fully unregulated petty digital landlord is gonna solve anything rather than make it worse is foolhardy.
As far as I know monero didn't really have that issue, of being a pyarmid scheme, while also being privacy-respecting way more than Bitcoin.
Which is also why it's starting to get banned in Europe. As far as I know, most brokers don't even sell it.
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Have you noticed that people who work in tech tend to be less excited about cool new flashy tech developments than the average person?
It's similar to how people who have worked in fast food aren't quite as keen on eating out than the average person.
Same as watching your co-worker who hasn't washed his hands after his last shit collect the pieces of a burger that dropped on the dirty floor to sell them to a customer isn't exactly appetizing, knowing what goes on behind the scenes with tech developments doesn't really get you on board for that either.
I think it's because we get excited super early, and by the time it goes mainstream we're tired of seeing it shoved into every place it doesn't belong
And it's probably still not being used for what we looked forward to about it
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The latest that drives me mad is the 1.5 surcharge they're putting on pay wave transactions now.
They pushed it free convenient etc etc and now charge extra for it regardless of debit or credit card
whaaaat? where is doing this? i haven’t seen it, and would ABSOLUTELY boycott the shit out of it
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It was far less valuable when it first started becoming trendy. 1 BTC for a pizza, or whatever. Now it's turned into a hyperinflation wheelbarrow kind of situation.
1 BTC for a pizza, or whatever
10 000 BTC for 1 pizza...
hyperinflation
Deflation . This is literally what happens to any volute that cannot be printed indefinitely. The situation is complicated by the fact that many wallets are simply lost and bitcoins will never be recovered from them.
