Mastodawn

Is cryptocurrency good for anything?

Is cryptocurrency good for anything? - Lemmy.World

Can I buy a pizza with it or pay my bills with it? Can my employer pay me in it? Or is it just an “emperor’s new clothes” thing? I just don’t see the tangible value in it. Rhetorical questions, BTW, I know you can’t buy a pizza with it, at least outside of some edge cases that I’m not aware of. I thought what made money money was everyone agreed it was valuable and was willing to exchange it for goods and services directly. I don’t see that with crypto.

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Paragone

Please read kobo.com/…/attack-of-the-50-foot-blockchain-bitco…

Steam STOPPED taking cryptocurrencies, because of the normal level of criminality in the people drenched in them… “you do NOT want to be doing business with these people”.

I’d use an Algorand-type blockchain for both accounting-records ( breaking “cooking the books” ) & for currency,

but then you’ve got monero which is engineered specifically to enforce that money-laundering is unbreakable, so that organized-crime can move money without any accountability ( I’m including criminal-government-entities, including insider-trading, in organized-crime ).

Nobody’s making the right infrastructure-decisions, … so whatever.

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Nibodhika 2d ago

That’s not true, Steam stopped accepting Bitcoin because of the large transaction fee and value volatility. Here’s the news from when they did that steamcommunity.com/games/…/1464096684955433613 in case you don’t believe someone who was buying games with BTC on Steam back then.

Steam :: Steam News :: Steam is no longer supporting Bitcoin

As of today, Steam will no longer support Bitcoin as a payment method on our platform due to high fees and volatility in the value of Bitcoin. In the past few months we've seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network.