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REPORT ABUSIVE REPLY
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Message Subject
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I have Uncle Intel On CRYTPO
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Poster Handle
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Anonymous Coward |
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Post Content
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You sound jelly. Maybe read more about what cryptocurrencies are. Read about how they actually work and you will fall in love. Hell, just throw 100 bucks in a robinhood account on btc. At least you can speak from experience and knowledge then.
Quoting: Anonymous Coward 78887571 Brother, I was studying bitcoin when it was trading less than $10. I loved the idea and thought it was the future. Fast forward like a decade, and it still isn't used for any normal commercial transactions, it's still absurdly volatile, you can still lose it all by losing a password or sending it to the wrong wallet, it's actually less anonymous than many other forms of commerce because the complete ledger is out there for the whole world to see, it's expensive to settle, and it takes an obscene amount of energy to make payments (magnitudes more than Visa, MC) and maintain value (which PMs do nearly for free). In short, BTC, for me, has been a colossal failure. For 99% of the population, it has much worse product-market fit than traditional banks. It hasn't actually transformed much of anything, besides creating a new speculative instrument. P.S. I also made about $75K trading shitcoins over the last 6 months. Not life changing but nice. But I am out of everything now and in cash. I misread you and apologize but since you have been in this as long as I have, you have to appreciate the beauty of it. It is something that no one can ever fuck with. I love the fact that you can lose your key and lose your fortune on a usb drive or a piece of paper. If it is that easy for you to lose it, it is that much harder for government to take it. And that is the very basic idea of where this is going. Away from government. Where you see beauty, I see horrible product-market fit. You can complain about the banking system all you want, but for the average consumer for day to day activities, it works marvelously. I use the bank that probably has benefited the most from the largesse of the Fed - JPM Chase - because they provide incredibly friendly online tools, and if something goes wrong, like inverting two digits in an account number for a wire, they fix it. I still cross my fingers every time I send crypto...that I didn't inadvertently using my ETH address for BTC, for example. Or that the shady Chinese exchange I have to use for shitcoins hasn't disappeared with my holdings. In short, the banking system still works better for financial activities than crypto for 99% of US consumers. Yeah, sending crypto is butt-puckering. I always send a few hundred first and wait for a confirm before sending the rest.
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