• 2 Posts
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Joined 9 months ago
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Cake day: January 8th, 2024

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  • There are three countries who have launched a CBDC. They are the Bahamas, China, and Nigeria. And uptake in all three of those places is extremely low. As for the truly decentralized cryptocurrencies, they’ve been building for the last 15 years and are getting to the point where they are extremely easy to access and use. I remember back when every website had to write their own specific payment gateway to accept crypto and you don’t need to do that anymore. Decentralized finance applications are getting more secure over time thanks to audits and hacks of competitors. More liquidity is able to enter without shoving the price around quite so much and so it is becoming more stable over time.





  • Really and truthfully, it’s only getting in that is the difficult part. Because as you mentioned, you have to go to shady sounding websites or whatever. But if your job paid you in crypto, then you trust your job because you work there. So you have to have some trust in them. Then you use them in a circular economy such as Monero is trying to build where you buy your car with your crypto that you got paid from work and you buy your house with your crypto that you got paid from work and you buy your food with your crypto you got paid from work etc. The friction point is where you go from one system into the other system. Admittedly, you could also consider it a bit of a leap of faith because you’ve grown up trusting this one system, and now people are saying, hey, there’s this alternative system, you should give it a shot.


  • Personally, I definitely believe crypto really is the future. I know it has been hyped up a lot and that has contributed a lot to the volatility. But beneath all that, real people are building solutions to real-world problems. So much so that even companies like Visa are using crypto like USDC to do international transfers faster and cheaper.

    Edit: If nothing else, it significantly reduces settlement time for money in the financial system.














  • Sounds like you are using a custodial wallet. And things like that happen all the time with custodial wallets. Count this as a lesson learned. Not your keys, not your crypto. Also, do keep in mind that blockchains such as that are completely transparent, so any money you send or receive over it can be looked at any time in the future. If that does not sound appealing to you, I would take a look at Monero and cake wallet.