@SamuraiMegas
Do you use cryptocurrency? For what?
SamuraiMegas wrote:It's not that hard to make it anonymous. Just buy from a reputable place, send it through a btc tumbling service and place it in a private wallet.
I tried to create an account on CoinBase I think, and they said they wanted pictures of IDs. Might as well use the conventional monetary system. I heard there is a way to make it anonymous but you had to setup your own wallet on your computer, something I don't understand and too much trouble for the average person.
SamuraiMegas wrote:I don't know what you mean with #3. Too many cryptocurrencies? That's fair, most of them end up dying within 6 months.
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Too many currencies means exchange is difficult when I have Bitcoin and your store accepts Ethereum only, or if you have Monero and my wallet is Litecoin. How does the exchange happens? Is there like something that transfer it on the fly?
SamuraiMegas wrote: no one manages bitcoin, no one even knows who the creator is for sure. It's pretty confusing at first, but just reading up on it for a few hours should get you up to speed.
I looked up few videos on it but its too shady. What I got is that its a software that you can join that builds this huge cluster that calculates numbers and digital transfers, but who makes the software? maintains it? bug fix it? How do we know no one is tampering with it? Who makes the rules here? Where does Bitcoin minining ends? $1=0.000052BTC , thats sounds stupid to calculate. Can't imagine going to an online store and see an item for "0.00104 BTC" which is $20.
and the biggest conspiracy theory is, why does not the creator come out and say I created it? Its ironic that no one is even falsely claiming it which usually happens with things all things anonymous.
MrPopo wrote:For most people it's a solution without a problem. .
Actually, I think it will be cool if somehow the digital currency could be tied to USD so 1 USD = 1 WWD (World Web Dollars), then I can buy stuff with it online and transfer it without jumping hoops then the person on the other end can exchange it for USD locally or equivalent local currency. I just want to by pass the current finance system that makes it so hard to buy back and forth digitally. I can list a number of issues now like US stores not accepting foreign credit cards, but this is not the topic.
Businesses can make money by charging an exchange rate like 0.5% on each transfer using their platform(like Paypal) or something. Thats half a million profit for every $100M transferred, they can also charge usual exchange rates between USD<->digital currency.
I once tried to send over money to an organization via Western Union, they said thats not possible. I got very irritated.