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7

Yeah, but in order to work as a private means of payment, cryptocurrencies first have to work as a means of payment (you know… as a “currency”). Until/unless they do, they’ll remain gambling with extra steps.

TriStar
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11Y

not certain if i understand your comment correctly but crypto has been used primarily as a form of payment for years before the recent boom. not for groceries or other “real life” stuff, sure, but online people did start to warm up to cryptocurrencies as a payment option.

As I’ve said in other comments in this thread, everything I’ve been able to find on the topic has indicated that cryptocurrency is used much more as a speculative investment than as any form of payment.

TriStar
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11Y

These days yes, which is a shame. But it was used primarily as payment before the financebros caught wind of it.

Cryptocurrencies are definitely not great currencies but they are definitely already used as currency by many people.

Three seconds of googling (well, I used DuckDuckGo, but anyway) suggests otherwise.

Can you show me what says that?

Search results on DuckDuckGo for the search term "does anybody use cryptocurrency as currency". The top result is an article on decrypt.co named "The Truth About Bitcoin: People Aren't Using It As Currency." Part of the text of the article is also visible below the title. "In brief. Bitcoin was originally billed as 'a peer-to-peer electronic cash system,' but most cryptocurrencies aren't used for payments. Surveys have shown that the majority of Bitcoin is held for speculative purposes. While some retailers accept Bitcoin, purchases have suffered from higher drop-out rates than cards and cash payments."

That’s a pro-cryptocurrency source. Scanning down the page, the first result from a source I recognize is an article called “Bitcoin Is A Cryptocurrency, But Is It Money?” from Forbes. It doesn’t directly answer the question my search term asked, but it does say “Economists say that money performs three functions. … Does Bitcoin do any or all these things? In brief, no.”

Somebody’s opinion. Nice

@Rumblestiltskin @TootSweet #BTC is a bad currency, but others can be great!

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