So I am not really into cryptocurrency and only have some basic knowledge. As far as I understand the idea between crypto (or especially bitcoin) was a decentralized payment system. Everything I heard about crypto the last few years was only about trading and value going up and down blabla. How is it going so far for using it as a payment method? Are there countries, systems, spaces in the internet or anything that actually use crypto for paying? Whar are some good examples? Do you yourself use some of these?
And are there maybe even PayPal-like Apps which you can use for paying in crypto to others?
It is super annoying, slow, and expensive to use as a payment method. I had some ETH from when they were giving it away in fairly substantial amounts to anyone with a GPU back in 2021. I managed to spend it, but it’s hard to imagine any big number of normal people going through that much hassle more than once. And that was before the software ecosystem got to be full of malware.
We really really urgently need a better way to pay for stuff on the Internet. Somebody please make GNU Taler happen.
I know this was the goal of Nano (XNO) originally. I still love the idea of it but with all the regulations and stuff now I think nano is kinda dead (or at least unpopular) It seems the only crypto used for transactions is Monaro.
I remember years ago hearing about a Minecraft server using it as “premium” currency which I thought was interesting. I think the idea was you could earn real money on their game server.
It’s so cheap now you could probably use it as currency for a game if you really wanted
Edit: not gonna lie I think Nano is a pretty cool name for a decentralized currency. Better than some of the weird coin names out there
Nano is one of the examples of how a crypto currency can be used for payments. Unfortunately it’s all useless because the crypto space is dominated by speculative investments and scams.
How are you “Really into crypto” but asking these questions?
Crypto’s a lost cause. It’s used for laundering money and for ransom payments to threat actors. The Trump family is exploiting their power to exploit Stablecoins and skim money into their coffers.
Crypto was a novel idea that had its time in the sun, but now it’s lost its luster.
Good luck on whatever you’re doing with it… I hope you get what you’re looking for from it.
OP said they aren’t really into… And for a person who does not know, these are valid questions.
Crypto is, and always has been a way for money laundering to happen. Right now, its almost exclusively used bt speculators, corruption and Libertarian perverts.
I cant remember which Latin american country attempted to switch to it, but basically it just facilitated massive corruption. Same with the trump regime.
Its fucking stupid and only serves to enable corruption. Also, Jefferson Epstein was a crypto pervert
Crypto is, and always has been a way for money laundering to happen.
could say the same about cash, when looking at large scale usage
Yes, but, its nearly impossible to launder 250 million dollars of bills into your pocket like trump did
the Hungarian kleptocracy would like to have a word on that
I dont know anything about that, tbh. But I struggled to imagine they are bringing that much american currency into their banks. PLUS, trump has done this multiple times and many others have, too. Thats a very different thing, I think youll agree.
they are stealing billions of hungarian forints recently, and privatizing public institutions. they have been in power for more than a decade.
Well, you know what you need to do, right?
you have changed the topic. crypto is not needed for money laundering, there are other avenues for doing that.
It is also used to buy recreational drugs and life saving drugs (like HRT) on the internet in places where those things are difficult to get.
And I can use USD to pay for an assassin.
