alt Hacker NewsYeah. It’s ridiculous how crypto gets so much hate here, yet there are constant, often heart wrenching posts about the failures and even near-malfeasance of payment processing systems. The paradoxical claims that crypto has no use case except fraud and crime, juxtaposed with the lamentation and gnashing of teeth over the misery of traditional payment systems is enough to provoke an existential examination of the senses.
I honestly think it must be mostly sour grapes, since by far, cash and other traditional payment methods facilitate the vast, vast majority of crime and fraud, and cryptocurrency is the only universally accessible, trustless, (nearly) costless, instant, global system for the transfer of value between two parties.
It is by far a better system, even with its flaws. Which is why, yes, many criminals use it, just as they use cash. Because it works.
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I am also amazed by the resistance to change here as there is a system clearly more efficient and transparent. It's just a matter of time in my opinion. BTW you can remove the (nearly) in "(nearly) costless", some solutions provide 0 fees and no inflation.
Nobody claims that crypto doesn't have a use case. They claim that it has failed at its use case. You can't use it to buy things easily or safely. Buying a bunch of crypto on the internet and looking at a graph every day hoping the line goes up isn't useful.
Its use case is still fraud and crime: when laundering money or fencing stolen goods, you expect the process to be difficult, dangerous and to have to pay a large fee. Crypto is a clear improvement on older criminal methods. It's not an improvement on credit cards.