this post was submitted on 29 Aug 2023
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Technology
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I think crypto could have its place as the cash of the internet. No one can watch your transaction, but if the other person takes your money and runs you are shit outta luck. No way to revert transactions, perfect for money laundering, but also anonymous, which can be a plus.
But all this makes it completely unsuitable in everyday use.
Also: yes, there is a fixed amount of Bitcoin. But you know what governments all over the world did when Inflation was sky high? Change the interest rates to change the amount of money that goes into the economy to make everyday items affordable again.
And for Bitcoin in particular, if everyone actually uses it as intended the artificial limit of the transaction rate would only allow you to perform one transaction every two yearsor something like that.