Raveen Kumar

That time I bought something with cryptocurrency

I am uncertain if anyone else has used cryptocurrency for transactions, but I did a few times.

The reality is, it's a really nice way to send money. The overall experience was smooth. Infinite times better than using banking websites. I actually wanted to pay with bitcoin, but the transaction fee was so high that I had to sell my kidneys to send it. So I decided to exchange bitcoin to Litecoin and transferred to my electrum-ltc wallet and sent it to the service provider. It took a while to verify, it was not instant (That's a drawback). But nevertheless, the transaction succeeded, and I subscribed to the service.

I actually want cryptos so succeed, but these pumpers and dumpers and the so—called HODLers are actually making it worse and worse. They want us to believe that most cryptos are actually “an investment” instead of money that can be used for daily transactions.

Especially bitcoin.

The advantage of crypto, as I see, is the usability of it. If you can't use a cryptocurrency, then it's absolutely worthless. No matter what anyone says. That's why the true cryptocurrencies are the once that are actively used. But I think monero is the only useable cryptocurrency right now.

I think cryptocurrencies as a technology is good, it's the mentality around the whole technology that is bad. I see many articles and videos saying cryptos are inflation beating technology, etc. But is that really the complete story? Or is it just some agenda to keep us invested, so the whales can dump overnight?

The future and use of any new technology is actually determined by the “USE”. Not by “NOT USING” it.

Most cryptocurrency enthusiasts and developers are idiots.

Anything that is created must be used and consumed, or it will decay.

This is not an art like a Mona Lisa painting.

Use it. Not abuse it.

Finally, after using my Litecoin, I had some left, I think around 60 rupees worth and donated that to the Litecoin foundation or some other thing. I forgot and deleted my wallet.

Even when I talk to my friends about it and explain all this shit, they seem oblivious to this fact. Everyone sees it as a pump and dump, they invest during the pump and dump after it reaches the peak. I believe they are scamming just like the other whales, but it's their choice. Nothing can be done.

Twitter is a shitshow. Anything you search over there will lead you to so-called crypto gurus who know nothing about the technology.

This feels like gamblingconfusion of the highest order, for sure.

Confusion

It's sad that cryptocurrencies right now play on people's beliefs. It should not be like that.

Don't listen to me. I sometimes browse bitcoin source code1 for fun.

No good programmersatoshi will use camelCase anyway. “Underscore” for life.

This2 is a good read about web3 as well.

  1. https://github.com/bitcoin/bitcoin/tree/4405b78d6059e536c36974088a8ed4d9f0f29898

  2. https://yesterweb.org/no-to-web3/

#cryptocurrency #finance #posts #technology