this post was submitted on 14 Sep 2023
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Memes

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[–] [email protected] 24 points 1 year ago (3 children)

Like it was basically just digital gold… which is also a terrible currency in physical form.

[–] [email protected] 14 points 1 year ago* (last edited 1 year ago) (1 children)

I mean it is very very useful for specific purposes, like purchasing, uh, certain substances in certain, uh... unregulated online marketplaces.

As far as being a currency for other purposes goes though, I think it is incredibly unfit for purpose. And as far as being an investment vehicle goes it's essentially a ponzi scheme.

[–] [email protected] 4 points 1 year ago

Also the hands down best way to do remittances. No more will WorldRemit steal 15% of my remittance, nor screw me on the exchange rate.

[–] [email protected] 12 points 1 year ago

Gold is useful in that it always remains gold but that's the extent of it.

[–] [email protected] 10 points 1 year ago

Wouldn't say terrible. Just volatile and with a specific use cas. But incaseyour currency loses value you still have some wealth wich you can use for financial interactions (assuming you still have access to it)