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this post was submitted on 04 Oct 2024
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Crypto. Works great for everything I previously used PayPal for
Edit: lmao people mad. For what it's worth BTC is screwed by txn fees and ETH isn't much better, and there's the whole scam thing going around, but crypto is still the best libre banking.
While I... dream of a world where something like kaspa is used for such things, quit larping. Crypto is for gambling and money laundering.
No one on Facebook marketplace is going to go "Oh, send me your eth address.", lmao.
I had a crypto phase. I know the entire ecosystem. Banking? Only if you can trust the backwards literal "who knows" entities you're dealing with. Should I bring up Celsius or FTX?
The only reputable one I'd even begin to consider would maybe investing in a BTC ETF, at least then you're clear of transaction fees and you get the same benefit of following the price as you would a Gold or oil fund and you don't have to touch the poison directly. Ether and Base are going to get absolutely destroyed if Kamala wins and won't fair much better than a flatline if Trump does, and you can wave goodbye to Arbitrum and Avax since the US isn't going to give a shit about an outside entity.
In a perfect world, we'd have a modernized version of BTC that isn't mineable, that's limited in volume, inexpensive to upkeep, cheap to transfer and usable as a universal currency, but humanity always gets in the way, either in adoption, distrust, greed or shortsightedness. Either the entity developing it gets high and mighty or everyone holding it becomes an influencer, or it turns out it isn't as eco friendly as you thought it was and the datacenter is on fire...
None of this even touches Brazil blocking X, which is the bulk of the memecoin universe aside from India, and Telegram getting shaky, influencers moving away from crypto and into marketing schemes...
You're running out of scams.
BTC ETF is a sad state of affairs and has nothing to do with replacing PayPal. I'm talking about strictly using crypto to pay for work or services (i.e. I only pay people online in crypto, I only pay for my DNS/VPN/etc in crypto)