/biz/ - Business & Finance

Bitcoin is completely fucking useless as a currency and it's only purpose is to gamble on a centralized exchange.

What we learned from this trip:

- Cash is king. Even in a hyperinflationary environment, everybody either wanted Pesos or USD. It was the most liquid and accessible asset.

- Silver was the runner up. It was the 2nd most liquid asset and you could get about 90% of the spot price when selling.

- Ironically, Tether was the 3rd most liquid asset. Some tech vendors were willing to accept Tether, but they wouldn't accept any other cryptocurrencies.

- Gold was garbage. It was way less liquid than silver and the haircut when selling was about 40% - 50%.

- Bitcoin was completely useless. It had no liquidity whatsoever. No vendor was willing to accept it and even the Bitcoin ATMs didn't function properly.

https://www.youtube.com/live/9Yyd7Ev_NY0

Bitcoin is completely fucking useless as a currency and it's only purpose is to gamble on a centralized exchange.

What we learned from this trip:

- Cash is king. Even in a hyperinflationary environment, everybody either wanted Pesos or USD. It was the most liquid and accessible asset.

- Silver was the runner up. It was the 2nd most liquid asset and you could get about 90% of the spot price when selling.

- Ironically, Tether was the 3rd most liquid asset. Some tech vendors were willing to accept Tether, but they wouldn't accept any other cryptocurrencies.

- Gold was garbage. It was way less liquid than silver and the haircut when selling was about 40% - 50%.

- Bitcoin was completely useless. It had no liquidity whatsoever. No vendor was willing to accept it and even the Bitcoin ATMs didn't function properly.

https://www.youtube.com/live/9Yyd7Ev_NY0