Here is the biggest problem with cryptos

[spy100]

@spy100 why you mad dude? Everyone understands that this is an (ongoing) experimental project, devs still tweak here and there, some create their own coin, some fork the chain, etc. If you don't like BTC, there are hundreds of altcoins that you can pick.

No one force you to use BTC, and you are free to use coins that best suit your purpose.

I like it but btc needs to be adopted by the masses not just by tech experts ...

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[Kasabus]

@spy100 why you mad dude? Everyone understands that this is an (ongoing) experimental project, devs still tweak here and there, some create their own coin, some fork the chain, etc. If you don't like BTC, there are hundreds of altcoins that you can pick.

No one force you to use BTC, and you are free to use coins that best suit your purpose.

I like it but btc needs to be adopted by the masses not just by tech experts ...

I think everthing comes with a cost and you can't find anywhere free today if you want to become it legit. For me, it's not really the biggest problem because everyone considered it basics except you. I think the biggest problem that we have to face is that if majority of the countries come up with a decision to banned cryptos. Life would be miserable for us then.

[NavI_027]

I do not know why you're so mad about cryptos and why this is a big problem for you.

Dude I think you misunderstood what he said. He is not totally mad with the technology as a whole. He is just so frustrated why most of people treat crypto (for example, bitcoin) as a store of value and not a means of exchange which supposed to be its real application based on the whitepaper.

@OP ~ Actually you got a point on that one. However, it is what it is. Since all of us found an opportunity to make money through this so the tendency is they will grab it for real. Coz why not? If you do believe that crypto should be solely used for exchanging goods then you are free to do so. But you cannot force everyone to follow you. Everyone got their own belief and for me I choose to lie on the middle. I am willing to get more adoptions and like to earn as well .

[bitgolden]

Honestly I just sent money from my exchange to a game that allowed you to buy some game stuff like skins and so forth, the game company was accepting bitcoin which is awesome but at the same time they were using coinbase as well. None of this matters because the problem was with my exchange.

So, what did I do? When I wanted to withdraw a certain amount, I withdrew about 10 bucks to pay the game, it was 9.9 and that is it right?

Well, it took another 6!!! dollars or so, it was 0.0005 bitcoin just for WITDHRAWAL, dude I payed about 0.001 for the whole game thing, you are asking half of that for just sending? And the coinbase thing had 1 hour countdown, you had to send withing 1 hour and have 1 confirmation, do you know how long it took? 40 minutes! I almost missed if they were 20 minutes more late. We need to get this under control, bitcoin is becoming worst thing ever for sending/receiving money.

[spy100]

I do not know why you're so mad about cryptos and why this is a big problem for you.

Dude I think you misunderstood what he said. He is not totally mad with the technology as a whole. He is just so frustrated why most of people treat crypto (for example, bitcoin) as a store of value and not a means of exchange which supposed to be its real application based on the whitepaper.

@OP ~ Actually you got a point on that one. However, it is what it is. Since all of us found an opportunity to make money through this so the tendency is they will grab it for real. Coz why not? If you do believe that crypto should be solely used for exchanging goods then you are free to do so. But you cannot force everyone to follow you. Everyone got their own belief and for me I choose to lie on the middle. I am willing to get more adoptions and like to earn as well .

Thank you ! You are the first person that understood .

[asus09]

You think paypal and credit card processing is free?
Those 2 also come with a cost. AFAIk each of those takes a % of the transaction for themselves.

For example ebay. If you buy something for $1, 33 cents goes to paypal. On top of that, ebay will also charge you a fee.

Almost currency we have pay fee but in my country have some digital product could be payment method without get fee when using transaction, I think still use for domestic country needed but I think found one digital application have the way how to take less payment fees when using as transaction.

[posi]

if she gives the address like you gave example how the f...k does she knows that Aunt Selma sent her 10 usd for a jar of Cherry Jam ?

Thats not a problem cause she can easily get notification about in and out payment through telegram bot notification which supported  ETH,BTC and some altcoins.

To use a third party costs money ( fees )

What's the point of a crypto if i can't use it as a merchant easy and without extra fees ? I could just use paypal or credit card processing

Every payment processing company (paypal, visa, mastercard, azimo etc) charge some certain fees or else they will be bankrupt but crypto is still fair and it the extra is an issue you could make use of simplified payment verification wallet.

The merchant should easy copy/paste a code and put it in his html .
[/quote]
It a gradual process cause rome was not build over night


There are also an alternative in crypto sphere and if a merchant dont want to use third part equipment he will have to do

Instead of crypto currencies stay as digital currencies you morons turned bitcoin / eth and other cryptos in to financial instruments .  That's the problem !

The problem started long ago mate ever since when the government was unable to find a better solution to inflation and if crypto currency was not financial instrument why does it posed good result despite the damage done by the pandemic

[spy100]

The problem started long ago mate ever since when the government was unable to find a better solution to inflation and if crypto currency was not financial instrument why does it posed good result despite the damage done by the pandemic

This i really got to answer to protect naive people : All you people out there that think crypto is Baby Jesus ...google keyword: pump and dump

[target]

The problem started long ago mate ever since when the government was unable to find a better solution to inflation and if crypto currency was not financial instrument why does it posed good result despite the damage done by the pandemic

This i really got to answer to protect naive people : All you people out there that think crypto is Baby Jesus ...google keyword: pump and dump

The pump and dump also happen on other markets like penny stocks. The fiat currency can even be manipulated, what do you think will happen if China dumps their USD?

I don't think people look at BTC as baby jesus but because we put value to BTC already since the time of pizza then there is a price to it. The price keeps rising as there are demands for we keep playing the casino, there is no mystery to that.

[hulla]

Honestly I just sent money from my exchange to a game that allowed you to buy some game stuff like skins and so forth, the game company was accepting bitcoin which is awesome but at the same time they were using coinbase as well. None of this matters because the problem was with my exchange.

So, what did I do? When I wanted to withdraw a certain amount, I withdrew about 10 bucks to pay the game, it was 9.9 and that is it right?

Well, it took another 6!!! dollars or so, it was 0.0005 bitcoin just for WITDHRAWAL, dude I payed about 0.001 for the whole game thing, you are asking half of that for just sending? And the coinbase thing had 1 hour countdown, you had to send withing 1 hour and have 1 confirmation, do you know how long it took? 40 minutes! I almost missed if they were 20 minutes more late. We need to get this under control, bitcoin is becoming worst thing ever for sending/receiving money.

You understand also

Thats the biggest problem of crypto (especially BTC) but this situation have been discuss several times and some solution have been implemented (lightning, batching as an example). However, the problem now is the community never reach a totally agreement in other total rectify method created.

[Blackrain13]

@spy100 why you mad dude? Everyone understands that this is an (ongoing) experimental project, devs still tweak here and there, some create their own coin, some fork the chain, etc. If you don't like BTC, there are hundreds of altcoins that you can pick.

No one force you to use BTC, and you are free to use coins that best suit your purpose.

I like it but btc needs to be adopted by the masses not just by tech experts ...

It takes time for bitcoin mass adoption.
Also every transaction needs a transaction fee of course,there is no free this time and just say thank you. It's like a car without gas it won't go. There's a lot of choices to be use if you want to pay only small amout unlike bitcoin which have a higher transaction fee.

[posi]

The problem started long ago mate ever since when the government was unable to find a better solution to inflation and if crypto currency was not financial instrument why does it posed good result despite the damage done by the pandemic

This i really got to answer to protect naive people : All you people out there that think crypto is Baby Jesus ...google keyword: pump and dump

The pump and dump also happen on other markets like penny stocks. The fiat currency can even be manipulated, what do you think will happen if China dumps their USD?

@Spy100, naive people are always advise to know the risk in cryptocurrency investment before joining it but people seems not to understand that crypto is not a quick to rich scheme. However, very great opportunity will also have great risk.

I don't think people look at BTC as baby jesus.

Bitcoin have the capacity to be look up to as baby jesus cause it was created as an alternative to save people from inflation which it does when theres total lockdown.

[abhiseshakana]

The pump and dump also happen on other markets like penny stocks. The fiat currency can even be manipulated, what do you think will happen if China dumps their USD?

China is not possible to throw away the USD at this time because the OBOR project run by China aims to suck dollars into China. China also understands that foreign exchange reserves in the form of dollars are the most effective instruments for maintaining national economic stability. Although there is the current discourse of dedolarization with the aim of reducing China's dependence on the dollar. But now China is trying to diversify its foreign exchange reserves from the dollar to other forms and China is trying to increase its gold foreign exchange reserves. In the end, China will still use the dollar because the American market is still needed by Chinese products.

[davis196]

Good luck trying to sell digital goods while a accepting a payment method that is non-reversible.
I agree with you about using a centralized third party,but nobody is forcing you to use such third parties.
Most of the people use third party services because they are convenient.
The only thing you need for selling stuff online and accepting crypto payments is an escrow.
Most of the online escrows aren't that trusted and established and that's a problem.Maybe after a while,those escrow services will prove that they are legit.An escrow service fee is usually around 1-2%,which isn't that much,compared to the fees that fiat payment processors like Paypal are charging.

[bits4books]

I'm sure you were the first to think of it!
But seriously - it's not "you" who turned btc/eth/etc into a fin tools a "we". It is now impossible to get out of this using the same btc/eth and you need a normal new (convenient, without over volatility, adequate, easy) crypto

[adzino]

If you think these are the biggest problem, then I would say you don't even know what is currently going on in currently in the crypto world.
You don't need any third party software to receive a notification. The wallet you use notifies users. I am pretty much sure you can use scripts to automate things. I mean think about how deposits are made in casinos. They are automatically detected and credited. I doubt they manually credit all accounts.

Instead of crypto currencies stay as digital currencies you morons turned bitcoin / eth and other cryptos in to financial instruments .  That's the problem !

What do you even mean by this?

Well good luck explaining to avg Joe how to sell his cows with bitcoin.

If an average Joe can learn how to sell his cows for paypal, he can learn how to sell cows for bitcoin.

Same old excuse ... "if he learns paypal he should learn btc" ... what's new ... most people are not like us tech experts


I mean that the cryptoworld turned it in a investment instead of a currency ... this is way btc is not evolving and will never evolve ... and the masses will never adopt it .

Now btc is a ponzi/pyramid scheme ... has 0 value in the "real world" ...

I said if he can learn how to use paypal, he can also learn how to use BTC without much effort. I won't deny most people aren't tech experts, but they aren't dumb enough to know how to use bitcoin. They don't have to learn the inner details like how bitcoin works and cryptography stuffs. They just needs to know how to send and receive payment while keeping their wallets secure.
People are using it both as investment and as a currency to purchase goods and services. You are acting as if everyone on this world are just using it as investment.
Lol, bitcoin has 0 value in world? I would love to know your definition of "value". I guess you are one of those guys who don't know that even the value of money (fiat currency) is abstract.

[CarnagexD]

There is nothing we can do about that third party inclusion either in person, fees. Palpay charge some fees. Some fees in certain things or transactions we do that we think are free are charged in data usage. It cost something whichsoever way we look at it from.

We should deal with those third parties because they are the one that process our transactions immediately.

Those fees really matters to all of us but if third parties don't exist, the government will not have any benefits from the use cryptocurrency.

Governments do not agree with those transactions that do not contribute to the progress in the economy so those charges are only normal. The only thing where charges, fees and third party will become serious is if it undergo excessive increase in its price. But most of us are still rooting for a free charges for a much better quality of cryptocurrency transactions.

[deisik]

Instead of crypto currencies stay as digital currencies you morons turned bitcoin / eth and other cryptos in to financial instruments .  That's the problem!

You can't change the laws of physics

And you can't change the laws of economics, either. You can't force people to use something if they don't see how it benefits them personally. Even the so-called common good comes about through personal gains. The same story with cryptocurrencies. It is not us morons that turned Bitcoin and other cryptos into financial instruments (read, vehicles for speculation). It is in their nature to be or become what they are or have turned into. Simply put, it is a natural course of events, so stop blaming us. However, if you are still unhappy about it, which seems to be the case, you can come up with your own solution, and we will see how it fares and what it ends with

[spy100]

If you think these are the biggest problem, then I would say you don't even know what is currently going on in currently in the crypto world.
You don't need any third party software to receive a notification. The wallet you use notifies users. I am pretty much sure you can use scripts to automate things. I mean think about how deposits are made in casinos. They are automatically detected and credited. I doubt they manually credit all accounts.

Instead of crypto currencies stay as digital currencies you morons turned bitcoin / eth and other cryptos in to financial instruments .  That's the problem !

What do you even mean by this?

Well good luck explaining to avg Joe how to sell his cows with bitcoin.

If an average Joe can learn how to sell his cows for paypal, he can learn how to sell cows for bitcoin.

Same old excuse ... "if he learns paypal he should learn btc" ... what's new ... most people are not like us tech experts


I mean that the cryptoworld turned it in a investment instead of a currency ... this is way btc is not evolving and will never evolve ... and the masses will never adopt it .

Now btc is a ponzi/pyramid scheme ... has 0 value in the "real world" ...

I said if he can learn how to use paypal, he can also learn how to use BTC without much effort. I won't deny most people aren't tech experts, but they aren't dumb enough to know how to use bitcoin. They don't have to learn the inner details like how bitcoin works and cryptography stuffs. They just needs to know how to send and receive payment while keeping their wallets secure.
People are using it both as investment and as a currency to purchase goods and services. You are acting as if everyone on this world are just using it as investment.
Lol, bitcoin has 0 value in world? I would love to know your definition of "value". I guess you are one of those guys who don't know that even the value of money (fiat currency) is abstract.

Beside us in the tech world and shady people how is using crypto ? Show me regular Joes that use crypto ... go to gumtree / olx / craiglist / oodle / facebook marketplace  and see how is using crypto to sell their products / services ....  

Sure i sell my products/services with btc / eth but here is the problem ... i have to dump crypto after i get it from clients ...so i can get FIAT as food and bills in the real world is payed with FIAT

Gas fees --> 0.1-2%
Exchange/trader Fees between 6-10%
Bank transfer fees 1-2%
And next year income tax on crypto could be 20%-30%
If client payes with btc i have to dump it really fast as it is very volatile.

And if cryto gets taxed i got to raise my prices 50% to cover does taxes not cool telling costumers that you had to raise you prices ... they will think you are trying to rip them off.

Crypto needs to go mainstream as currency instead of investment...and needs to solve real world problems like in the whitepaper.

[Wawa2013]

The biggest problem is that crypto is too focused on being used as an investment, whereas as a currency it should be
used as payment. So cryptocurrency will feel more useful and if crypto has been widely used to buy goods and services
this will make crypto more needed by people. If it is like that, it is not impossible that crypto will become a global currency.