Why Americans haven't been convinced on cryptocurrency

[guest_trader_1]

Why Americans haven't been convinced on cryptocurrency?

Because you can lie to people a certain amount of time, when most of the technical people that know anything about computer science tell you that cryptos are a pile of shit, you can still lie about it, but eventually that lie will fall apart, based on facts.

- Use in businesses as a method of payment. Unbearable because of its crazy volatility. Every single platform that offer cryptos as a form of payment has to change their value to one of the country's fiat currency they are at, in order to give the customer a fair price.

- Anonymity. Funds coming from counterfeit money as it has been well proven with Tether, we all know what happens when no one is accountable.

- Irreversible transactions. Customers cannot challenge fraud.

- Prices controlled by exchanges on unregulated markets. Traders are subject to brutal price manipulations and no authority can act on it.

- No use as a hedge against inflation. It has been proven that when inflation raises cryptos are the ones to suffer first with massive changes in price.

The list goes on and on if you try harder, these are just a few obvious points.
So it is hard to convince anyone to enter in that market when it is on top of a house of cards.

 

[DaveV]

We can see how miserable everyone is dealing with the FED, it's pretty embarrassing to Americans.

In my entire life, neither I nor anyone I know has ever had to deal with the FED. Please explain how you are dealing with the FED.

 

[Tokenz]

In my entire life, neither I nor anyone I know has ever had to deal with the FED. Please explain how you are dealing with the FED.

An even better question would be how is anyone not dealing with the FED? And if you cant figure the answer out for it then i dont have time for you

 

[Tokenz]

- Use in businesses as a method of payment. Unbearable because of its crazy volatility. Every single platform that offer cryptos as a form of payment has to change their value to one of the country's fiat currency they are at, in order to give the customer a fair price.

Yes thats why there are programs that automatically convert it. This is the 20th century man, do you really think anyone has the time out of every second of their life to keep changing prices, come on now, you're not stupid.

Anonymity

. Funds coming from counterfeit money as it has been well proven with Tether, we all know what happens when no one is accountable.

Tether has nothing to do with Bitcoin, there are also about 7 other stablecoins. And yes there is a team for Tether who is accountable.

Irreversible transactions. Customers cannot challenge fraud.

Its becoming more extremely difficult to hack a wallet. The only way for fraud to even happen. And if someone sends to the wrong address, then thats their problem, not Bitcoins.

Prices controlled by exchanges on unregulated markets. Traders are subject to brutal price manipulations and no authority can act on it.

Duh, because we dont need authorities to control anything, nor do we want it. And those brutal price manipulations can make you money.

-

No use as a hedge against inflation. It has been proven that when inflation raises cryptos are the ones to suffer first with massive changes in price.

For now it follows the market. But more and more it is starting to bear off track of the normal markets. We will see where it heads in the near future

Sorry bud, but non of your points are valid, and seems like you copied it out of a book. Try thinking for yourself for once.

 

[guest_trader_1]

Yes thats why there are programs that automatically convert it. This is the 20th century man, do you really think anyone has the time out of every second of their life to keep changing prices, come on now, you're not stupid.

Tether has nothing to do with Bitcoin, there are also about 7 other stablecoins. And yes there is a team for Tether who is accountable.

Its becoming more extremely difficult to hack a wallet. The only way for fraud to even happen. And if someone sends to the wrong address, then thats their problem, not Bitcoins.



Duh, because we dont need authorities to control anything, nor do we want it. And those brutal price manipulations can make you money.

-

For now it follows the market. But more and more it is starting to bear off track of the normal markets. We will see where it heads in the near future

Sorry bud, but non of your points are valid, and seems like you copied it out of a book. Try thinking for yourself for once.

I am not trying to argue with a cryptoboy, I was just answering the initial question, you have proven to be a quite religious crypto-acolyte, so I won't argue with you, there's no point. And I didn't copy my text from anywhere, it came out like that from my keyboard, I'll try to lower the level next time you are involved.

 

[M.W.]

I agree with you with what we need. But are you in the slightest convinced the elites and those who run the financial system will be able or willing to give up control? It won't happen, judging from 3 centuries of historical evidence.

Eh, valid point but will never happen. There is too much utility and demand for it. We can see how miserable everyone is dealing with the FED, it's pretty embarrassing to Americans. We need a currency that is uncontrolled and unmanipulated by anyone or government

 

[M.W.]

Or you stand there with nothing other your dick in your hand while everyone else who was a little saver and pension investor is taken care of.

One thing I learned in my over 40 years of life is that I never bet against the elites in power in America. They are slick enough to come up with ever evolving ways to hold onto their power. The majority is just too uneducated and dumb to grasp this. The best trick ever played is to give the majority the impression they are in power when they are not.

You got it. Because after Bitcoin reaches 1 million a coin and i have trillions of dollars, i am going to look at everyone on here waiting for their stocks to go up a few cents so they can make a few hundred and laugh while i am taking my money to the bank.

 

[deaddog]

Its becoming more extremely difficult to hack a wallet. The only way for fraud to even happen. And if someone sends to the wrong address, then thats their problem, not Bitcoins.

This is one of my concerns. I make a purchase from you and pay with BTC. You don't send me the item. What recourse do I have?

With CC or Paypal I can reverse the payment. Not so with BTC. I'd say it opens itself to fraud.

 

[Scataphagos]

An even better question would be how is anyone not dealing with the FED?

Just like we all do... they shove it up our collective butts, and we take it.

 

[MrMuppet]

you guys are mixing things up. The majority of big players in crypto are U.S. companies that trade via offshore entities.

Nobody and I really mean not a single rats ass cares about U.S. retail clients.
They were prohibited from trading where the most volume is right from the start because nobody wants to deal with U.S. retail clients anyways. They're a pain in the ass to deal with due to citizenship based taxation and all the requirements that come with it for service providers. So better leave them in the dust.

TL;DR:
Size is done by U.S. institutions only second to Asian players. American retail clients were never a major factor in this market and never will be. This discussion is about as meaningful as a discussion why Belgians haven't been convinced on U.S. equities.