• @dhork@lemmy.world
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    1 month ago

    I’ve used crypto for legitimate transactions in the past. It bailed me out once, big time, when I had to top up a foreign SIM card while abroad and their website wouldn’t take my US credit card. I found a site selling top-up codes that took crypto and sent some from my phone, and I was back in business. (The site was legit, but even if it turned out to be a scam I knew they could never take anything more than what I sent them because of the way crypto worked.) But this was back when people were still using it to transact.

    The worst thing that ever happened to law-abiding people using crypto was when it’s price zoomed up. Because for all those early adopters, every individual transaction now has a considerble capital gain attached. That’s why people don’t spend crypto anymore, because it’s been turned by the market into a Store of Value. (And by developers, but that’s a different thread).

    • Alphane Moon
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      1 month ago

      This is not a serious example in terms of scale and market share.

      My point stands.

      • @dhork@lemmy.world
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        11 month ago

        Well, nothing anyone says is going to convince you, because you’re obviously correct. How silly of me to question you!