Here is the biggest problem with cryptos - page 2.

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legendary

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Quote from: spy100 on July 31, 2020, 12:41:58 PM

Quote from: posi on July 31, 2020, 12:21:11 PM

The problem started long ago mate ever since when the government was unable to find a better solution to inflation and if crypto currency was not financial instrument why does it posed good result despite the damage done by the pandemic

This i really got to answer to protect naive people : All you people out there that think crypto is Baby Jesus ...google keyword: pump and dump

The pump and dump also happen on other markets like penny stocks. The fiat currency can even be manipulated, what do you think will happen if China dumps their USD?

I don't think people look at BTC as baby jesus but because we put value to BTC already since the time of pizza then there is a price to it. The price keeps rising as there are demands for we keep playing the casino, there is no mystery to that.

spy100

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Quote from: posi on July 31, 2020, 12:21:11 PM

The problem started long ago mate ever since when the government was unable to find a better solution to inflation and if crypto currency was not financial instrument why does it posed good result despite the damage done by the pandemic

This i really got to answer to protect naive people : All you people out there that think crypto is Baby Jesus ...google keyword: pump and dump

posi

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Quote from: spy100 on July 29, 2020, 10:38:31 AM

if she gives the address like you gave example how the f...k does she knows that Aunt Selma sent her 10 usd for a jar of Cherry Jam ?

Thats not a problem cause she can easily get notification about in and out payment through telegram bot notification which supported ETH,BTC and some altcoins.

Quote from: spy100 on July 29, 2020, 05:11:26 AM

To use a third party costs money ( fees )

What's the point of a crypto if i can't use it as a merchant easy and without extra fees ? I could just use paypal or credit card processing

Every payment processing company (paypal, visa, mastercard, azimo etc) charge some certain fees or else they will be bankrupt but crypto is still fair and it the extra is an issue you could make use of simplified payment verification wallet.

The merchant should easy copy/paste a code and put it in his html .
[/quote]
It a gradual process cause rome was not build over night

There are also an alternative in crypto sphere and if a merchant dont want to use third part equipment he will have to do

Quote from: spy100 on July 29, 2020, 05:11:26 AM

Instead of crypto currencies stay as digital currencies you morons turned bitcoin / eth and other cryptos in to financial instruments . That's the problem !

The problem started long ago mate ever since when the government was unable to find a better solution to inflation and if crypto currency was not financial instrument why does it posed good result despite the damage done by the pandemic

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Quote from: btcltcdigger on July 29, 2020, 06:16:26 AM

You think paypal and credit card processing is free?
Those 2 also come with a cost. AFAIk each of those takes a % of the transaction for themselves.

For example ebay. If you buy something for $1, 33 cents goes to paypal. On top of that, ebay will also charge you a fee.

Almost currency we have pay fee but in my country have some digital product could be payment method without get fee when using transaction, I think still use for domestic country needed but I think found one digital application have the way how to take less payment fees when using as transaction.

spy100

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Quote from: NavI_027 on July 31, 2020, 02:06:15 AM

Quote from: ?? on ??

I do not know why you're so mad about cryptos and why this is a big problem for you.

Dude I think you misunderstood what he said. He is not totally mad with the technology as a whole. He is just so frustrated why most of people treat crypto (for example, bitcoin) as a store of value and not a means of exchange which supposed to be its real application based on the whitepaper.

@OP ~ Actually you got a point on that one. However, it is what it is. Since all of us found an opportunity to make money through this so the tendency is they will grab it for real. Coz why not? If you do believe that crypto should be solely used for exchanging goods then you are free to do so. But you cannot force everyone to follow you. Everyone got their own belief and for me I choose to lie on the middle. I am willing to get more adoptions and like to earn as well

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Thank you ! You are the first person that understood .

bitgolden

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Honestly I just sent money from my exchange to a game that allowed you to buy some game stuff like skins and so forth, the game company was accepting bitcoin which is awesome but at the same time they were using coinbase as well. None of this matters because the problem was with my exchange.

So, what did I do? When I wanted to withdraw a certain amount, I withdrew about 10 bucks to pay the game, it was 9.9 and that is it right?

Well, it took another 6!!! dollars or so, it was 0.0005 bitcoin just for WITDHRAWAL, dude I payed about 0.001 for the whole game thing, you are asking half of that for just sending? And the coinbase thing had 1 hour countdown, you had to send withing 1 hour and have 1 confirmation, do you know how long it took? 40 minutes! I almost missed if they were 20 minutes more late. We need to get this under control, bitcoin is becoming worst thing ever for sending/receiving money.

NavI_027

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Quote from: ?? on ??

I do not know why you're so mad about cryptos and why this is a big problem for you.

Dude I think you misunderstood what he said. He is not totally mad with the technology as a whole. He is just so frustrated why most of people treat crypto (for example, bitcoin) as a store of value and not a means of exchange which supposed to be its real application based on the whitepaper.

@OP ~ Actually you got a point on that one. However, it is what it is. Since all of us found an opportunity to make money through this so the tendency is they will grab it for real. Coz why not? If you do believe that crypto should be solely used for exchanging goods then you are free to do so. But you cannot force everyone to follow you. Everyone got their own belief and for me I choose to lie on the middle. I am willing to get more adoptions and like to earn as well

.

Kasabus

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Quote from: spy100 on July 30, 2020, 09:02:19 AM

Quote from: mu_enrico on July 30, 2020, 12:30:51 AM

@spy100 why you mad dude? Everyone understands that this is an (ongoing) experimental project, devs still tweak here and there, some create their own coin, some fork the chain, etc. If you don't like BTC, there are hundreds of altcoins that you can pick.

No one force you to use BTC, and you are free to use coins that best suit your purpose.

I like it but btc needs to be adopted by the masses not just by tech experts ...

I think everthing comes with a cost and you can't find anywhere free today if you want to become it legit. For me, it's not really the biggest problem because everyone considered it basics except you. I think the biggest problem that we have to face is that if majority of the countries come up with a decision to banned cryptos. Life would be miserable for us then.

spy100

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Quote from: mu_enrico on July 30, 2020, 12:30:51 AM

@spy100 why you mad dude? Everyone understands that this is an (ongoing) experimental project, devs still tweak here and there, some create their own coin, some fork the chain, etc. If you don't like BTC, there are hundreds of altcoins that you can pick.

No one force you to use BTC, and you are free to use coins that best suit your purpose.

I like it but btc needs to be adopted by the masses not just by tech experts ...

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Quote from: boyptc on July 29, 2020, 07:09:41 AM

Biggest problem?

That's not the biggest problem that everyone can think of. The biggest problem to me is the banning of bitcoin by each country. If a crypto friendly starts to ban bitcoin, do you think that's not the biggest problem?

To me, that is.

This is what I want to see in this thread. That third party thing is not that serious enough, it is a problem but not as worse like this.

Government who are against on cryptocurrency must be lessen because it really interrupt those transactions towards cryptos.
If banning of cryptocurrency is not your priority and focus on what you are arguing with, then that third party will become useless. It is much better to use third party than not being allowed to operate cryptocurrency transactions.

Which will you choose?

A society that bans cryptocurrency or using a third party that collects extra fees in your transactions. We are lucky that cryptocurrency is legal in our country and we don't even complain about it that much.

shoreno

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not only its costy and takes alot of time to process those , they are also making things more complicated .

they think that copying the qr code to be able to recieve payments are too basic so they dont care with that much and they think merchants already knew that stuff's . they only want to earn and make thier own business , i dont consider that as a problem but there are other real probems that btc and btc users faced that this .

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Paypal and credit cards do charge you a small amount of money. There is no type of payment that is free for you to use. New innovations are being created in order to make transaction easier and cheaper. Crypto is still young but we can never deny the benefits that I can bring to us at the moment and even in the future. Cryptocurrencies can be developed over time and become stronger and stronger. Soon, I believe it cost a less money than using traditional payment methods

We are selling our information and identities to the government and companies at a cheap price. Internet users know that crypto users are even aware of this with a more concerning level. If I have an opportunity to become anonymous and secured, I won't hesitate to buy it with an affordable price

mu_enrico

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@spy100 why you mad dude? Everyone understands that this is an (ongoing) experimental project, devs still tweak here and there, some create their own coin, some fork the chain, etc. If you don't like BTC, there are hundreds of altcoins that you can pick.

No one force you to use BTC, and you are free to use coins that best suit your purpose.

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Quote from: Heart18 on July 29, 2020, 09:20:20 PM

Fees, Charges or whatever we may call it is not a problem at all. Just think of it like a vehicle, it won't run without a gasoline/diesel, right? So, we must accept it that way and won't take every fees as a burden. After all, it has a lot of help for us especially in this Pandemic where we just need to stay home.

Exactly, this analogy is on point. Think of those fees as a payment for supporting your services, I do not see the problem with that. If your site gets a decent traffic then that would mean that you wouldn't mind paying those services supporting you, if you are selfish enough then you might as well create all the supporting services so you can hog all the profits, just because they are using crypto as a financial instrument guarantees you to be whining about how greedy you are.

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Quote from: btcltcdigger on July 29, 2020, 06:16:26 AM

You think paypal and credit card processing is free?
Those 2 also come with a cost. AFAIk each of those takes a % of the transaction for themselves.

For example ebay. If you buy something for $1, 33 cents goes to paypal. On top of that, ebay will also charge you a fee.

Exactly, we think that the established businesses are free of charge which we didn't know they collected it secretly on many ways. Fees is not the biggest problem of cryptos since its normal to collect fees and that''s how business works. It might be free of charge to you, but the company you are using is paying the fees on your end.

If you care much about the fees then try to look for alternatives where you can transact at minimal fees or no fees at all, in my case we have a local wallet where we can send money with no fees at all.

Heart18

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Fees, Charges or whatever we may call it is not a problem at all. Just think of it like a vehicle, it won't run without a gasoline/diesel, right? So, we must accept it that way and won't take every fees as a burden. After all, it has a lot of help for us especially in this Pandemic where we just need to stay home.

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Quote from: btcltcdigger on July 29, 2020, 06:16:26 AM

You think paypal and credit card processing is free?
Those 2 also come with a cost. AFAIk each of those takes a % of the transaction for themselves.

For example ebay. If you buy something for $1, 33 cents goes to paypal. On top of that, ebay will also charge you a fee.

That was totally true. Cryptocurrency transactions are not the only ones with top up or having the processing fee because even digital wallets and online shops do also have processing fee for you to be able to clear out or for your transaction be able to be completed.

Cashless payments we have like PayPal and credit cards do always have processing fees because nothing is really free most specially it is a term of processing your transactions.

Quote from: crwth on July 29, 2020, 02:00:34 PM

From the discussion posted before me, if you have only concerned about fees, then you would just use the least expensive of any of the mentioned payment processes. You cannot escape it entirely the charges because of the need for different methods and energy consumption of computers and mining rigs, etc.

I hope you wouldn't be so cynical about this because there are a lot of friendly things that custodial wallets that are easy to use, and transactions are free if you are sending it to another account in the same corporation. There is always a way.

This is exactly agreeable. If the only problem and concern is about the amount of fee being entitled to be paid off, better seek for a wallet or mode of payment that have the cheaper price to be able to process your transaction with lower fees. There are ways on how you can spend low fee transactions and do not have to be hysterical on complaining about the processing fee you have been amounted to complete the transaction. There is always a way of seeking which is a lot more better than continuously complaining.

spy100

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Quote from: adzino on July 29, 2020, 04:24:01 PM

If you think these are the biggest problem, then I would say you don't even know what is currently going on in currently in the crypto world.
You don't need any third party software to receive a notification. The wallet you use notifies users. I am pretty much sure you can use scripts to automate things. I mean think about how deposits are made in casinos. They are automatically detected and credited. I doubt they manually credit all accounts.

Quote from: spy100 on July 29, 2020, 05:11:26 AM

Instead of crypto currencies stay as digital currencies you morons turned bitcoin / eth and other cryptos in to financial instruments . That's the problem !

What do you even mean by this?

Quote from: spy100 on July 29, 2020, 05:11:26 AM

Well good luck explaining to avg Joe how to sell his cows with bitcoin.

If an average Joe can learn how to sell his cows for paypal, he can learn how to sell cows for bitcoin.

Same old excuse ... "if he learns paypal he should learn btc" ... what's new ... most people are not like us tech experts

I mean that the cryptoworld turned it in a investment instead of a currency ... this is way btc is not evolving and will never evolve ... and the masses will never adopt it .

Now btc is a ponzi/pyramid scheme ... has 0 value in the "real world" ...

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If you think these are the biggest problem, then I would say you don't even know what is currently going on in currently in the crypto world.
You don't need any third party software to receive a notification. The wallet you use notifies users. I am pretty much sure you can use scripts to automate things. I mean think about how deposits are made in casinos. They are automatically detected and credited. I doubt they manually credit all accounts.

Quote from: spy100 on July 29, 2020, 05:11:26 AM

Instead of crypto currencies stay as digital currencies you morons turned bitcoin / eth and other cryptos in to financial instruments . That's the problem !

What do you even mean by this?

Quote from: spy100 on July 29, 2020, 05:11:26 AM

Well good luck explaining to avg Joe how to sell his cows with bitcoin.

If an average Joe can learn how to sell his cows for paypal, he can learn how to sell cows for bitcoin.

spy100

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https://www.youtube.com/watch?v=8BIUSNMcV1g

Wake up people and think else you will lose your money....

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(1) Question authority. No idea is true just because someone says so, including me.

(2) Think for yourself. Question yourself. Don't believe anything just because you want to. Believing something doesn't make it so.

(3) Test ideas by the evidence gained from observation and experiment. If a favorite idea fails a well-designed test, it's wrong. Get over it.

(4) Follow the evidence wherever it leads. If you have no evidence, reserve judgment.

And perhaps the most important rule of all...

(5) Remember: you could be wrong. Even the best scientists have been wrong about some things. Newton, Einstein, and every other great scientist in history -- they all made mistakes. Of course they did. They were human.

Topic: Here is the biggest problem with cryptos - page 2. (Read 615 times)