Then they will ask why nobody wants to use their payment cards
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Pay same in cash or credit. Priced in or not what the company asks for is what the consumer pays, so point being these crypto transaction arguments make no difference when it comes to fees. Like you said end retail price is already priced in.
Company wants 10 Stanley nickles consumer is charged 10 Stanley nickles regardless of payment method.
Yeah good point, they're not discounting the credit increase for the crypto buyers. That might even be against their credit processor contract.
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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]Fiscally irresponsible
I mean, there are people who just don't have the money for a needed "purchase" (like medical care, transportation, or food), and hope they'll be able to get a better job or make more money in the future to pay it off later. Been there.
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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)
wrote last edited by [email protected]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.
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I can't say I've ever seen fascists pushing Bitcoins, but then again I don't frequent those spaces. I struggle to see how they are ideologically similar though. Doesn't seem like a very authoritarian concept
And can we really say we know what brought about the publication of the bitcoin whitepaper?
Trump, Bukele, Milei, Orban, Thiel, Musk, etc. It's the "Dark Enlightenment" and "Network State" type of fascists that want to replace democratic government with stuff like corporate-controlled city-states, and crazy shit like that. They see it as a means to starve the government so they can run their own corporation-like governments.
The message in the genesis block alludes to the ideology (as that kind of stuff was a major talking point for right-wingers back then), though I guess it's not definitive proof. The early community was definitely Austrian-school adjacent right-wingers though.
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No bank or goverment can control it. It is the benefit of being able to send money to anyone around the world while maintaining ownership of your money as if it were cash in hand.
Banks or governments as opposed to who though? There's a reason we usually want those publicly owned and regulated institutions to handle our transactions. Obviously, it depends what country you live in, and what currency you're talking about. But I don't think Bitcoin or any other cryptocurrency actually solves the problem it purports to.
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also gnu taler should be next to bitcoin (ik not as widespread)
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Yeah, but one is extra bad for our enviroment while being a scam.
That's what i thought, too. I would never believed if someone telled me some years ago that there will be another scam (ai) that wastes even more power.
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Perhaps, but bitcoin isn't exactly the best example of that.
Yes, I believe bitcoin is not a good crypto overall. It's only the oldest and most famous one, but fails on many sides
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Bitcoin is not crypto
Wtf are you talking about??? Bitcoin is THE cryptocurrency.
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The current systems used by VISA use significantly less energy compared to PoW cryptocurrencies such as Bitcoin
Ethereum was able to cut their energy usage down drastically by moving away of PoW. Windmills and clean energy aren't the solution, getting rid of PoW is. Why build more solar farms if you could just not use so much electricity?
I think I haven’t explained myself properly. I will admit it seems bitcoin uses more energy in this case. However, we’re comparing Bitcoins entire currency system with that of a processor of fiat. I’m on mobile right now but I would like to see that comparison for arguments sake, bitcoin ecosystem vs fiat ecosystem (including mining, storing and transport of gold)
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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)
wrote last edited by [email protected]I was excited for Bitcoin but the more I learned and the more the public used it, the more I hated it.
EDIT: FOLLOWING PARAGRAPH IS A BADLY PHRASE EXPLANATION, PLEASE READ MY COMMENT BELOW TO UNDERSTAND MY POINT
Bitcoins timestamp only supports dates up to 2106 because they decided on an UNSIGNED value. You don't need negative values... You know when the network starts, that is 0. Without network, no Bitcoin.
That is how bad it is engineered.
And we are not even talking proof of work or whatever. Crypto is a scam because the creators made it very obvious that they didn't really care about the project and the community is just gambling.
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only if you change the definition of "crypto".
Many would argue that there needs some distinction between them. The ongoing joke is “Shitcoin” as many have abandoned the benefits of bitcoin.
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Tons of cards have zero fees. Some offer rewards and benefits at no real cost. I have for nearly a decade used a card with 1% back on purchases and 1% back on payments. Running all my usual spending through that and then just paying it off has net me a lot of money in that time that I just use for statement credit.
It's easy to dispute charges should I ever need to. Rare since I'm cautious anyways, but the extra layer before my actual bank account is nice.
It has also built up a hell of a credit rating for me as well.
I am usually cautious with claims of free money. There is no free money for working class people. So, who's paying it in that case and for what reason? I reckon the company who is running the platform does it, such that they can get market share to coerce sellers into using their product.
Or am I seeing this wrong?
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The US implementation of chip and PIN left off the PIN. The reason given was "no one wants to put in a PIN every time" so for the vast majority of transactions you just hold up your card to the sensor or put it in the chip reader. PIN is only required for cash withdrawals in my experience.
Jesus Christ, that is absolutely moronic. No wonder people are so obsessed with losing their card.
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I think I haven’t explained myself properly. I will admit it seems bitcoin uses more energy in this case. However, we’re comparing Bitcoins entire currency system with that of a processor of fiat. I’m on mobile right now but I would like to see that comparison for arguments sake, bitcoin ecosystem vs fiat ecosystem (including mining, storing and transport of gold)
Ah, moving the goal posts, aren't we?
Did you know that gold has nothing to do with the fiat ecosystem? In fact, the whole point of the word fiat in fiat ecosystem means that it is not based on gold at all. And if you include gold in the equation because some people use fiat to buy or sell gold, then you need to include gold in the energy costs of bitcoin as well, since people also use bitcoin to buy/sell gold.
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Banks or governments as opposed to who though? There's a reason we usually want those publicly owned and regulated institutions to handle our transactions. Obviously, it depends what country you live in, and what currency you're talking about. But I don't think Bitcoin or any other cryptocurrency actually solves the problem it purports to.
Ideally, no one controls it. It's just exists as a medium for exchange.
There are both good and bad points to currency have value that can be adjusted by gov'ts; crypto currency solves one set of problems, but has it's own, inherent issues.
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i’ll add an extra to this on the cashback etc
credit card companies charge stores processing fees, and then give consumers cash backs to encourage them to spend using their cards
stores add credit card processing into their cost of doing business… you’re charged that in the cost of things you purchase
if you pay with a credit card, you get some of that back. if you don’t pay with a credit card, you’re still charged the fees - you just don’t get any of the benefits
wrote last edited by [email protected]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
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I agree, but it’s still early days. I’ll keep pushing for a greener development of the network, too
You cryptobitches have been saying it's "early days" since 2009
It's been 16 years. That bullshit don't fly anymore.
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The current systems used by VISA use significantly less energy compared to PoW cryptocurrencies such as Bitcoin
Ethereum was able to cut their energy usage down drastically by moving away of PoW. Windmills and clean energy aren't the solution, getting rid of PoW is. Why build more solar farms if you could just not use so much electricity?
wrote last edited by [email protected]BULLSHIT.
You aren't computing the cost in blood, censorship, wasted time, the lives employed by these evil orgs wasting their lives scamming people, the loss of revenue from value-producing business, the waste of banking cards, and the COUNTLESS other energy-guzzling mechanisms involved.
Bitcoin eliminates ALL these problems. It is by far more efficient, it isn't even close. Also, it isn't a payment system like visa, what an ignorant ass comparison. It is literally a sovereign currency with publicly auditable minting & ledgers. It replaces MONEY. Payment processors are built on top of it.
Yea, even the shit visa and mastercard can switch to payment processing on top of Bitcoin. It would actually be beneficial. When they decline a transaction you just directly use the network instead.
Btw PoS is also bullshit, in a completely different and inferior class of crypto. It requires HUMAN CONSENT to enter the network. PoW requires COMPUTATIONAL CONSENT. PoW lets anyone into the network if they can follow the rules of minting. This is HUGE when talking about a freedom-preserving system.
Put more simply, PoS systems are aristocracy owning an apple orchard (you ask an authority if they are allowed to take an apple), PoW is like an apple orchard deep in the woods that anyone can take from (you just have to walk there). Understand the difference?
One OWNS THE ORCHARD. They will protect it from people they deem unauthorized. They demand people go through them for permission. It is no different than what we have now, abstracted further and digitized.
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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.
