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681 points Anon84 | 1 comments | | HN request time: 0s | source
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spicyusername ◴[] No.46181533[source]
I've never understood the initial arguments about Bitcoin, no matter how many times they've been explained to me.

The block chain is, and always was, an extremely inconvenient database. How anyone, especially many intelligent people, thought it was realistic to graft a currency on top of such a unwieldy piece of technology is beyond me. Maybe it goes to show how few people understand economics and anthropology and how dunning-krueger can happen to anyone.

Now the uninformed gambling on futuristic sounding hokum? THAT is easy to understand.

That being said, I'm sorry the author had to go through this experience, the road of life is often filled with unexpected twists and turns.

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solumunus ◴[] No.46189390[source]
I can send a billion dollars to someone in Uganda with no intermediary or oversight. This was not only impossible before but most likely would never have been a possibility. Being able to hold massive amounts of value in the ether and control it from anywhere, you don’t find that impressive? Sure, this is mostly used for nefarious activities, but let’s not pretend it’s solving no problems. It’s incredibly difficult to transfer money into a third world country without incurring massive fees, unless you use crypto.
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GRiMe2D ◴[] No.46189506[source]
Okay, let's image that I've sent you 100 BTC. Now, can you tell me how exactly you would convert the "money" I've sent you into bread and milk?

Because, most of the time people say that just in the context of the blockchain. In that sense I can also say that you can control vast majority of money by just having knife and glove skins in Steam (for the game Counter Strike). You also can trade/send/receive. But the moment you decide that you want to convert to "food" all sorts of problems arise that are worse than what banks offer.

I'm telling you as a person who received salary in crypto while living under sanctioned country

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stavros ◴[] No.46189638[source]
Yes, you convert them into bread and milk the same way you convert little pieces of paper into bread and milk: You find someone who's willing to give you bread and milk in return for them.
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ranguna ◴[] No.46190101{3}[source]
Good luck finding someone who will accept btc for literal bread and milk
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solumunus ◴[] No.46190680{4}[source]
People are already using crypto in this way so you can stop fighting the hypothetical.
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1. ◴[] No.46191491{5}[source]