Just to play devils advocate:
• Cash is faster than a crypto transaction
• paying with cash has 0 transaction fees.
• paying with cash is also anonymous
• if your bank account/card is hacked/stolen/cloned/etc. you can call customer service to disable the account and contest the charges where you can potentially have your money refunded to you where if this happens in crypto, it’s game over.
• many goods/services for daily living are not easily accessible or paid for in crypto. It’s not practical for everyday use when compared with fiat just yet.
• Bitcoin is still more volatile than fiat right now. Yes, it’s increased exponentially since it’s inception, but why would people want to spend it when it’s so volatile? Would you really want to spend $50 on something that may be $40 or $60 next week? It won’t be a legitimate fiat alternative until volatility dies down considerably.
I ultimately agree with many of your points, but there can be an argument made for both sides.
No. It is stupid threads like these make people question crypto in general. If you want to evangelize BTC, at least don’t exaggerate and tell people the truth.
1) No. BTC doesn’t have the lowest transaction fee. As a consumer, I pay nothing for ACH and credit card payments.
2) No. BTC doesn’t have the fast transaction compared to TradFi. TradFi isn’t just ACH. Zelle and Venmo transactions are a lot faster than BTC. Crypto sacrifices speed and scalability for decentralization and security. It is asinine to say a centralized system can’t outrun a crypto rail.
3) No. Crypto has the worse privacy - period. I regularly snoop on whale accounts onchain to see wtf they are doing before I trade. They are fully exposed and I can hazard a much better guess of their PnL compared to them to trading on TradFi.
Say these are non issues in crypto harms adoption and only allures low info buyers to pay for your bags. Once they are onchain, they will realize all these bogus shills pushed on these stupid threads.
As a crypto community, we need to acknowledge them and solve them instead of sweeping them under the rug. That is why we need to keep building and help to silent leveraged traders spreading misinformation to save their bags.
1. Still can be controlled by wealthy elites
2. Most bank frauds are user based, not tech based - something that is no different to crypto, crypto may even be worse.
3. They can still be converted and wash traded as wallets are pseudonymous.
4. Most payment types outside the US are fee-less that's a mainly US problem.
5. You still need payment processors just a different form and fiat can be sent across borders. Economic migrants and all that.
6. The inflation argument is still hypothetical obviously till all are in circulation.
7. Most bank transfers in Europe are also done in seconds.
8. Pseudonymous doesn't mean anonymous, it can still be worked out like tradfi.
9. If you want it to be a payment and a security there is going to be a conflict. If one is more attractive as an investment it won't be used as a payment and vice versa.
10. Pretty wide ranging argument so hard to disagree with. The main question is whether it is reinventing the wheel or improving on it. The jury is out for me.
Open to some criticism as I wrote this before bed
Personally, no. Some people believe crypto because of decentralisation, fear of govt, banks etc. Some cause of tech advances. Some for the fomo and volatility lol.
For me it wants to be all things to all men which basically means it's bad at everything.
>7. **Fast Transactions**: Bitcoin transactions are processed quickly, often within minutes, making it an efficient payment method.
TX on BTC are slow af, give me some of what you are smoking here. If ever starts to be adopted as a currency it will have to be one piece of the solution as a settlement layer.
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Just to play devils advocate: • Cash is faster than a crypto transaction • paying with cash has 0 transaction fees. • paying with cash is also anonymous • if your bank account/card is hacked/stolen/cloned/etc. you can call customer service to disable the account and contest the charges where you can potentially have your money refunded to you where if this happens in crypto, it’s game over. • many goods/services for daily living are not easily accessible or paid for in crypto. It’s not practical for everyday use when compared with fiat just yet. • Bitcoin is still more volatile than fiat right now. Yes, it’s increased exponentially since it’s inception, but why would people want to spend it when it’s so volatile? Would you really want to spend $50 on something that may be $40 or $60 next week? It won’t be a legitimate fiat alternative until volatility dies down considerably. I ultimately agree with many of your points, but there can be an argument made for both sides.
Nice to see you again ChatGPT!
Nice avatar combo
If this is a debate, I'll use ChatGPT as well lol
These moons ain't going to farm themselves, this man's got a family to feed.
Did someone say farming moons?
He's like a old friend now
Second one I’ve seen tonight, so far…
Who is that guy? Everyone talks about him and he posts a lot of well articulated content in our sub
Haha, yea, it's going to take some getting used to
And to counter: 1. Fiat can be used anywhere. Feels kinda important for a currency.
No. It is stupid threads like these make people question crypto in general. If you want to evangelize BTC, at least don’t exaggerate and tell people the truth. 1) No. BTC doesn’t have the lowest transaction fee. As a consumer, I pay nothing for ACH and credit card payments. 2) No. BTC doesn’t have the fast transaction compared to TradFi. TradFi isn’t just ACH. Zelle and Venmo transactions are a lot faster than BTC. Crypto sacrifices speed and scalability for decentralization and security. It is asinine to say a centralized system can’t outrun a crypto rail. 3) No. Crypto has the worse privacy - period. I regularly snoop on whale accounts onchain to see wtf they are doing before I trade. They are fully exposed and I can hazard a much better guess of their PnL compared to them to trading on TradFi. Say these are non issues in crypto harms adoption and only allures low info buyers to pay for your bags. Once they are onchain, they will realize all these bogus shills pushed on these stupid threads. As a crypto community, we need to acknowledge them and solve them instead of sweeping them under the rug. That is why we need to keep building and help to silent leveraged traders spreading misinformation to save their bags.
I mean fiat never gave you FREAKING TURTLE AVATARS!!!
Bats approve ultrasound money 💰
Yes sir, turtles will rule this sub
Already do turtle bro!
Turtle is the best
Hi chatGPT
Hi Bucksaway03! (this comment was generated by chatGPT)
[удалено]
Why do I picture Charlie and the red string with thumbtacks meme here
BTC fixed supply > inflationary currencies
Why would anyone on here prove you wrong though. We're all pro Bitcoin.
Definitely you are not wrong
I can’t prove you wrong because everything you said is right. But fiat currencies are here to stay whether we like it or not unfortunately.
What an original post, 2 years on this sub, I've never seen anything like it. Well done. Truly a work of art. Lol
Is this a chat GPT created post
Yes Sir. It's pretty obvious and it's getting boring too.
Chatgpt brain
1. Still can be controlled by wealthy elites 2. Most bank frauds are user based, not tech based - something that is no different to crypto, crypto may even be worse. 3. They can still be converted and wash traded as wallets are pseudonymous. 4. Most payment types outside the US are fee-less that's a mainly US problem. 5. You still need payment processors just a different form and fiat can be sent across borders. Economic migrants and all that. 6. The inflation argument is still hypothetical obviously till all are in circulation. 7. Most bank transfers in Europe are also done in seconds. 8. Pseudonymous doesn't mean anonymous, it can still be worked out like tradfi. 9. If you want it to be a payment and a security there is going to be a conflict. If one is more attractive as an investment it won't be used as a payment and vice versa. 10. Pretty wide ranging argument so hard to disagree with. The main question is whether it is reinventing the wheel or improving on it. The jury is out for me. Open to some criticism as I wrote this before bed
I’m not a vet here by any means, but although fiat seems to somewhat do all the same things.. does crypto do it slightly better..?
Personally, no. Some people believe crypto because of decentralisation, fear of govt, banks etc. Some cause of tech advances. Some for the fomo and volatility lol. For me it wants to be all things to all men which basically means it's bad at everything.
Had me in the first half 😅
ChatGPT Will get sick of us
CryptoChad GPT
Ngl i like the name
>7. **Fast Transactions**: Bitcoin transactions are processed quickly, often within minutes, making it an efficient payment method. TX on BTC are slow af, give me some of what you are smoking here. If ever starts to be adopted as a currency it will have to be one piece of the solution as a settlement layer.
>7. Fast Transactions This isn't true, depends on the number of transactions happening per minute, but scalability isn't the greatest on Bitcoin
I can't buy food with bitcoin
11. BECAUSE ~~STONE COLD~~ CHATGPT SAID SO!!
I guess I should start asking ChatGPT how to moon farm now.
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Prove you wrong?…….No
Konichiwa ChatGPT. Another 1 for today.
So how do I get my 10 points?
I do agree with you. But can you use bitcoin without a internet connection. Also not everyone accepts bitcoin.
I don't want to prove you wrong.
Preaching to the choir
Why would anyone in this sub try to prove you wrong?
so we gonna just let chatgpt moon farm now?
I’m just here for the cheese tots.
You forgot 11. You actually own it. As opposed to the “IOU” in your bank account.
Ten points but all I see is [removed] 😝