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/biz/ - Business & Finance

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23893598 No.23893598 [Reply] [Original]

why does crypto exist for anything for ANYTHING but a gambling stock market where you just hope and pray a useless coin goes up 100x.

cashapp: instant send, no fees, option to instant withdrawal.

venmo: instant send, no fees, option to instant withdrawal

paypal: instant send, small fees, option to instant withdrawal

crypto: 1-25 hours to send, 30% fee when you buy bitcoin, have to copy and paste confusing strings of numbers and letters, make sure youre sending it to the wrong wallet, if you do it wrong it can get lost forever, takes 1-3 days to withdraw into bank, if you buy it through your bank you need to wait a week to get the crypto, confusing wallets for shitcoins

its all useless except like monero and bitcoin because bitcoin can be used for a handful of vendors and the deep web.

>> No.23893640

its being used as a store of value to hedge against currency collapse and inflation. none of that other shit you talked about matters.

>> No.23893652

>>23893598
why do options and futures exist anon

you’re looking at a prototype of finance’s next evolution and the financial instruments of that system

>> No.23894438

>>23893640
Effective stores of value don't fluctuate in price nearly as much or as dramatically as crypto. Its not widely used as a medium of exchange (yet) because of this as well.

>> No.23894520

>>23894438
go back

>> No.23894553
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23894553

>>23893598

cashapp = not your money
venmo = not your money
paypal = not your money
crypto = your money

>> No.23894636

Venmo/PayPal: you have to trust Elon musk not to take your money and run

Buttcoin: you have to trust Chinese miners not to take your money and run

>> No.23894747

>>23894438
the high volatility happens because how the low market cap, once it reaches a couple trillions it will be more stable

>> No.23894803

>>23894438
Volatility is the price you pay for having something that isn't smoke & mirrors controlled by legacy financial institutions . there's a reason billionaires are entering the space.

>> No.23894817

>>23894553
its the other way around like total opposite

>>23894636
elon musk sold paypal years ago but yeah theyre the shittiest on the list. theres still apple pay, google pay, chime or whatever

>> No.23894839

I live in hyperinflation and we were always blacklisted
the only way for me to get donations and sell for cash was bitcoin
checkmate OP

>> No.23894859

>>23894839
I'd drop my crowdfunding just to prove OP wrong desu

>> No.23894897

>>23894859
always fall for the desu shit

>> No.23895186

Are you joking dude, try and send any substantial amount of money through those apps and see what happens. They can turn off your account at any time, you're not in control of anything.

You can send millions to whoever wherever with crypto.

Although as others pointed out, yes it's mostly being speculated on as a store of value and a hedge against inflation.

But it acting as money that you truly own and are in control of is its utility

>> No.23895218

>>23894803
Why do whales not control crypto in the same way? I was always curious about this.

>> No.23895235

>>23895186

satoshi intended it to be cash, but it ended up being gold. and that's not even a bad thing.

>> No.23895265

it exists as an IQ test for smart people to get rich, thats it. unfortunately smart people forget theres a real world around them and thats what causes holocausts to happen.

>> No.23895267

>>23895218
You think they don't?

>> No.23895295

>>23895218

whales can do a lot, but they don't have the same power as legacy finance to print infinite supply out of thin air or do things like fractional reserve lending .

they can push the price up or down or suppress movement but they can't do black magic totally disconnected from reality

>> No.23895454

>>23895267
No idea, I don't trade crypto I just hold. Did whales dump during the march crash to accumulate more or something?
>>23895295
Yes it makes sense that the money printer has so much influence.