How is this different from a debit card? I don't use debit cards. I pay for everything with CCs and pay off the balance when it comes due. Crypto would just charge me instantly. Why do I want that? Yes, it seems more and more stores are charging fees to recover a part of what they pay the CC companies. But you also get nice discounts like discounted gas with the BJs card and 5% back.
OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
- Start date
This post is exactly where I was headed from a practical US-centric perspective. Obviously, sub-Saharan Africa is a different use case. And, I’ll admit the surcharges merchants are charging to recover fees needs to be addressed because a lot of merchants are not complying with the rules such as proper notice/disclosure and surcharges are illegal in some states. With that said, it’s usually the small local shops like the bagel joint or Chinese restaurant so even those surcharges do not amount to much for me.
For the purchaser using a debit card its the same. For the merchant they're still charged a fee that they are passing on to you in all likelihood.
Purchased on November 15, 2022 for $25 usdc. So at today's value, that would be....$25.
Not really an apples to apples comparison. Until someone can prove to me an actual use, it’s just a pump and dump.
Not adding this to todays conversation about use cases, rather a separate thought about a new development. Will be interesting to see if/how this catches on…
blockworks.co
Real Estate Investors Buy Solana NFT Home for $246,800
Blockworks exclusive: The tokenization, which supported USDC and ran on the Solana blockchain, was undertaken by crypto startup Homebase
blockworks.co
Several articles showing that hunderds of thousands of people outside of America use it every day as a means to bank aren’t an actual use case?
I would LOVE for someone to explain how this makes any sense or actually works. First of all, who occupies the house? Because all it takes is an a-hole renter to destroy the value of the property. Second, this sounds more like a time-share mutation and less like tokenization. Third, how is insurance, maintenance, property management, etc. handled? Fourth, how would you transfer title or unwind the tokenization/SPV structure to sell the property - would you need to acquire all outstanding tokens? This entire scenario is going to give some property law professor a boner when it ends up in the law school text books.Not adding this to todays conversation about use cases, rather a separate thought about a new development. Will be interesting to see if/how this catches on…
Real Estate Investors Buy Solana NFT Home for $246,800
Blockworks exclusive: The tokenization, which supported USDC and ran on the Solana blockchain, was undertaken by crypto startup Homebase
So I think the question is…if BTC becomes the currency for African nations and undeveloped countries why the heck would anyone outside of those nations ever buy BTC? It would essentially be like buying or “investing” in a Zimbabwean digital dollar. I’m actually starting to think adoption of BTC by all these third-world countries will destroy whatever value it might have in the future, especially if the US launches a digital dollar. At that point, the only reason for a US citizen to own BTC would be to pay Nigerian Princes.
Because the future of finance is what 3rd world nations are doing. Don’t ask questions just buy blindly and pay no attention to how the largest businesses in this “industry” are the unregulated brokers who don’t even utilize blockchain technology and its endless uses on their platforms.
There is also no agenda being pushed by bitcoin influencers and its army of holders. Sure they might profit tremendously by more people piling in, but just trust that they’re in it for the little guy who transfers money back home through Western Union, they really just want to save that guy a few bucks.
Would be fun to go back through this thread and read what the NFT advocates predicted. So fitting that FTX, SBF, Hollywood greed and others scammed morons out of hundreds of millions.
www.vanityfair.com
SBF, Bored Ape Yacht Club, and the Spectacular Hangover After the Art World’s NFT Gold Rush
Auction houses and talent agencies thought the Web3 works were a fast track to billions. If it weren’t for a global crypto meltdown, they might have pulled it off.
That is amazing, I need a Netflix documentary to sort that all out for me.Would be fun to go back through this thread and read what the NFT advocates predicted. So fitting that FTX, SBF, Hollywood greed and others scammed morons out of hundreds of millions.
SBF, Bored Ape Yacht Club, and the Spectacular Hangover After the Art World’s NFT Gold Rush
Auction houses and talent agencies thought the Web3 works were a fast track to billions. If it weren’t for a global crypto meltdown, they might have pulled it off.
NFT art market is dead and the most interesting development is the company that is now buying digital art for a penny to enable moron buyers to take a tax write-off.
Agree. I've been hearing about groups raising $$ for projects and using NFT's to represent equity like a coin. Not sure if its going to work but that is definitely happening.
The best part about it? They sent the majority of it to a wallet on Coinbase. The same company they just went a Wells Notice to for suspected "illegal" activity. Make up your damn minds already.
Yeah, cause, ya know.... the big banks never do anything illegal....
Elon Musk seeks to end $258 billion Dogecoin lawsuit
Elon Musk asked a U.S. judge on Friday to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin.
FOMO 🚀🚀🚀
Maybe it is all BS, but if banks have more issues then BTC has a great chance to run and miners would be give you more beta.
Talk about dollar cost averaging, MicroStrategy is now almost even on it's bitcoin investment...
So if a bunch of third world countries, Africa, etc. adopt BTC, what’s the point of whales or the likes of Microstrategy holding hundreds of thousands of BTC unless it’s a pump and dump play? They will be holding the digital currency of the underdeveloped world. Why would BTC be worth anything to anyone outside those countries using it?
No one ever wants a rational discussion of how the economics of bitcoin would actually work once the desired end game happens.
I think the use of BTC in emerging markets has been brought up here as a use case when the argument was made that there isn't one, not the end all/be all. Saylor clearly believes there are other uses and his thesis has been well documented.
Emerging markets as a currency use case is fine, but it completely cuts against the store of value thesis. If a bunch of third world countries adopt it as currency there is no point in owning it as an “investment”.
Saylor is comical and will likely end up in jail one day with his buddy SBF = did you see Saylor’s latest narrative “Bitcoin is digital energy”?
He's been saying that for a few years. So much of it is just entertainment value at this point, on both sides. BTC is used to fund terrorism and we must shut it down, yet the US gov't is going to sell seized BTC back to the open market. I'll just continue enjoying the ride.
That's quite the reach on two fronts; first, there's no connection between them and second, one was one of the biggest fraudsters in history. Come on man. Please dont revert to being a shitposter.
And his digital energy comment has been part of his messaging since MS purchased btc in 2020.
Perhaps a reach…blame the internet for all the BS because I had read that Saylor-SBF were boyz until SBF got busted and Saylor ripped SBF a new one. FWIW, I had never heard the “digital energy” crap before he tweeted it again this week.
Bob-law = I’m genuinely curious to get your thoughts on whether a bunch of third-world countries adopting BTC would be a positive or negative? For example, if a dozen undeveloped third world countries adopt BTC doesn’t that devalue BTC and make it less likely that any super-power would ever make the switch?
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