someone explain this
why would people want to use cryptocurrency for real life transactions/business instead of using fiat like we normally do
Someone explain this
Asher Thompson
Jeremiah Perry
Anonymity
Speed
Low TX fees for international payments, compared to traditional money transfer services
Lower risk for vendors because crypto currencies don't have "charge back"
Cameron Nelson
Delete thissssssss
Liam Evans
they dont.
its only good for drugs and money laundering
>anonymity
useless because the tax man will still come after you
>speed
btc transactions take 2hours. paypal is low tx fees
just lol, transaction fees are way higher with coins than with fiat
>lower risk
what are hackers?
Angel Brown
the volatility of crypto kind of kills the benefits imo
Tyler Lee
>instead of using fiat like we normally do
You just answered your own question.
Its mostly used for illegal activities, such as laundering money from ransome ware.
Why else do you think we had a huge Bitcoin spike out of nowhere, right after the massive WannaCry ransom attack?
Just money being traded & laundered to avoid detection.
And bwt... bitcoin can absolutely be traced now, and how many hackers are caught, which is why this laundering to alt coins is needed.
Oliver Cox
It won't be volatile if adopted as a major currency.
It fixes a lot of the problems faced by the fiat economy but brings a few of its own to the table. Overall, however, it's the better choice.
>inb4 yeah but why would people WANT to
Same reason why people in the UK changed from shillings to pounds - it becomes the standard.
Jaxson Robinson
>massive
They got 50 bitcoins worth, oh wow. This is the crime of the millennium.
Parker Williams
OP asked about crypto currency, not Bitcoin specifically. Numerous crypto currencies are very fast, and even Bitcoin only takes 20-30 minutes
>Paypal
Rapes you with fees. Enjoy paying $200 to transfer $10000.
Aaron Robinson
>It fixes a lot of the problems faced by the fiat economy but brings
Until Bticoins can be taxed and accepted as tax payment, it will say as a criminal enterprise.
Good luck getting any governments to accept bitcoin as "currency" for tax payments.