On anti-crypto toxicity

Re:On anti-crypto toxicity by easrng on Wednesday April 20, 2022 @12:37PM (#31099535)

You can't pay for groceries with crypto. The easiest way to transfer money people can actually use without a bank account is probably texting someone a prepaid card number, though for low amounts the purchase fee is kind of a lot. Crypto is good for circumventing the legal system (ex. getting DIY HRT where it's not legal) but for most basic needs it's not very useful.

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Re:On anti-crypto toxicity by fidelramos on Friday April 22, 2022 @04:39AM (#31119459)

> You can't pay for groceries with crypto.

Some people can pay for groceries with crypto, for example in Slovenia there is a supermarket chain that accepts Bitcoin Cash (BCH) [0]. map.bitcoin.com [1] displays local businesses that accept crypto.

Then there is acceptbitcoin.cash [2] which lists online stores and services that accept Bitcoin Cash, Bitcoin and/or other cryptocurrencies.

That is one of the main things I like about Bitcoin Cash: it focuses on user adoption as money and not as a store or value or speculation investment. Avoiding the exchange to fiat money is essential for P2P electronic cash like Bitcoin was meant to be.

[0] https://www.youtube.com/watch?v=61kQ4-0a1p8

[1] https://map.bitcoin.com/

[2] https://acceptbitcoin.cash/

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Re:On anti-crypto toxicity by Consultant32452 on Wednesday April 20, 2022 @12:45PM (#31099666)

You can't pay for groceries with crypto yet. The government is making adoption more difficult by doing things like classifying all crypto as assets, so every transaction by a legitimate business requires they have to do a ton of tax paperwork about it. Some countries use bitcoin as official currency, so this not universally the case.

I don't know if adoption will increase, nor do I have a strong opinion on whether it should. But it does solve the specific, narrow problem of lack of basic banking for the poor.

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