Quote:
Originally Posted by island911
Thanks speeder, but how does that make my point (about transaction costs) uneducated?
This BTC thing is overly complex and expensive to transact, but at least it's highly volatile.
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Island, BTC is a chit way to purchase anything and not meant as a efficient way to purchase. BTC is a long term hold that will continue to appreciate. MC has broken 1.1T.
What if you wanted to send $10,000 to your Mom in Germany. Good luck, will take about 3 days for her to see her funds, cost about 7% and a chit ton of paper work. Enter Stellar (XLM). Take a minute to send from your desktop, boom, hits her account in a matter of seconds (half way across the planet) for a fractions of a penny. Take a look at stellar.org or ripple.com (XRP). You have the major card companies joining up with these companies and tech to process payments because it fast and cheap. DeFi has the banks by the nads now and they have admitted change is coming.
I keep mentioning, but it is still early in the game. There are so many things happening outside of BTC. Fun times
One more thing speaking of defi, how would you like to earn 10%-50% on your money? Take a look at AAVE, Compound Finance, Yearn. You can purchase crypto, put it out there to lend short term or long and get paid serious returns. I am still learning, but my returns are spectacular. Keep in mind, I started messing around with play money doing this, into 6 figures now.