Just because it grows at 8% doesnt mean its fake, its also fake because the Fed is a corrupt institution that stopped caring about measuring real inflation a long time ago.
Crypto currency. Bit coin’s primary use case is crime, money laundering, drugs, assassination, ransomware. For normal transactions, it’s too slow and expensive, but for crime, that’s not a problem.
For normal transactions, it’s too slow and expensive, but for crime, that’s not a problem.
I’m no lover of Bitcoin, but this is just false. Using the Lightning Network (basically a Layer 2 application on top), transactions are near instant and cost only pennies.
Using the Ethereum network and L2s, which has an energy expenditure less than that of your dishwasher, you can move money instantly and for basically fee. There’s a reason big corporations like Visa and countless others are heavily investing in and building on Ethereum: it’s faster and cheaper than legacy tradfi rails. Also, it’s a pretty good way to get aid to Gaza and other war-ravaged countries, pay for privacy-respecting email and VPNs, etc.
primary use case is crime, money laundering, drugs, assassination, ransomware
I admit I haven’t been keeping up recently. These are relatively new changes then. I remember when a transaction cost $25 and 7 minutes. (Or was it the other way around?) In any case, that wasn’t practical for anyone except organised crime, which is largely where it got that reputation. And the fact that crime is still a major user.
Fake money for criminals is speaking of USD here?
Just because it grows at 8% doesnt mean its fake, its also fake because the Fed is a corrupt institution that stopped caring about measuring real inflation a long time ago.
or it’s, y’know, crypto
Thor’s voice: “All money is made-up”
Crypto currency. Bit coin’s primary use case is crime, money laundering, drugs, assassination, ransomware. For normal transactions, it’s too slow and expensive, but for crime, that’s not a problem.
Also, USD is not a recent tech innovation.
I’m no lover of Bitcoin, but this is just false. Using the Lightning Network (basically a Layer 2 application on top), transactions are near instant and cost only pennies.
Using the Ethereum network and L2s, which has an energy expenditure less than that of your dishwasher, you can move money instantly and for basically fee. There’s a reason big corporations like Visa and countless others are heavily investing in and building on Ethereum: it’s faster and cheaper than legacy tradfi rails. Also, it’s a pretty good way to get aid to Gaza and other war-ravaged countries, pay for privacy-respecting email and VPNs, etc.
In fact, crypto has moved on from 2009-era use cases: https://ethereumadoption.com/usecases/
I admit I haven’t been keeping up recently. These are relatively new changes then. I remember when a transaction cost $25 and 7 minutes. (Or was it the other way around?) In any case, that wasn’t practical for anyone except organised crime, which is largely where it got that reputation. And the fact that crime is still a major user.