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Comment by hudon

While it has speculative value [0], you can use it to buy stuff, but while doing so you will spend on exchange fees to convert in and out of crypto, you will use as much electricity for your transaction as 33 US households use in a day, you will subject yourself to liquidity risk and volatility risk [1] and you will have to wait for anywhere from ten minutes to a couple hours [2].

Calling this complicated, risky and expensive process a "use case" is like calling a Rube Goldberg machine that opens a door "useful for opening doors". It's like no, not really. It can do it, sure, but there are significantly better ways of achieving the same thing.

[0] When there are no more greater fools entering the market, the price will tank and you will not be able use it to transfer value.

[1] It's possible that right after your purchase, the price of the token shoots up or down 50%, making rational purchasing decisions difficult.

[2] transactions on Visa, Apple Pay, or PayPal all get complete within seconds.

parent hudon 8 years ago

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