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TLDW ???

Yea and why cryptocurrency isn't money with its exchange rate being determined by how much fiat currencies are entering and exiting.

Sole legal tender.

Edit: I dare them to pay all Government employees in Bitcoin, demand taxes be paid in Bitcoin. It would be a funny experiment if it weren't for mass unemployment and deaths that arise out of a recession.

It would be funny trade wise too. No other country is going to accept Bitcoin as payment for real goods and services. So, the country will have to convert Bitcoin to USD at market price (which can swing wildly) and also hope the market has enough liquidity to handle it.

Honestly I was expecting far more downvotes. I posted the video with people like you in mind, who still ~~can think critically~~ are marks without the burden of ~~misinformation and ideology.~~ not being marks.

Ftfy

By the way, if you think you are not subject to ideology, I have several things to sell you.

For anyone else reading: everyone is subject to ideology. The moment you think you arent, that is when you are most trapped by it.

Don't click on spytube links then, they are visible on Lemmy.

Instead of fixing those issues, most other coins are just pump and dump schemes for a quick buck.

Oh agree totally on this one.

Bitcoin and many other currencies have way too many and large fluctuations in value for daily use.

If you are using it to send money from point A to point B, you can cash it out at the same price you put it in at, so fluctuation doesn't matter much. You're probably saving on bank fees and exchange risk enhanced by slow international settlement. Exchange risk is always a thing with any currency. It's gotten more stable over time and I imagine that trend will continue. Other currencies are also unstable, how has the purchasing power of the USD held up over the last 5 years? That's not to mention the billions of people not fortunate enough to live in a currency environment which is dominated by the dollar. Ask any Argentenian or Turkish person how stable their currency is compared to Bitcoin. Best case scenario, your dollar slowly loses value over time due to supply inflation. Whether or not you find it useful, more and more people find it useful every year, the transaction volume has increased reliably for 15 years. Nobody's making them use it. On the contrary, there are often hurdles educational, regulatory, and technological to using it, but they still do. Maybe on year 16 though people will finally realize it's useless and stop using it.

Bitcoin specifically is not practical for transactions in general due to cost and block size limits. Yes, lightning exists, but maybe your technology is shit if it needs a second overlay network to function.

Maybe TCP/IP is shit if we need other protocols build on top of it like SMTP. Maybe ethernet is shit if we have to design a whole nother protocol (TCP) just to make sure packets actually arive in the proper order. No. This is a weak argument. Fedwire, the system for settlement between US banks, has a equivalent transaction speed to Bitcoin's base layer. Banks don't seem to have any problem with that speed. And ten minutes is pretty dang fast to send a million dollar transaction across the globe (on main chain) or under a second (on lightning). Meanwhile, the US dollar doesn't have a built-in transfer mechanism, and the mechanisms available can be quite frustrating or expensive to work with, ask anybody whose ever had to send an international bank wire or deal with the frequent buyer return fraud on platforms like eBay. I'd sell an iPhone to somebody in (insert fraud prone country here) no problem in BTC. With PayPal? No effing way,