Not a rhetorical question, despite the flippant phrasing. I'd absolutely love to see crypto succeed, but it doesn't look like it's gonna be useful for white and grey market transactions any time soon. For those not familiar, the white market is the documented, above-ground economy, the grey market is the informal/unlicensed economy, and the black market consists of goods and services that are outright criminalized.
Using crypto for white market transactions would arguably defeat the purpose, but on the grey market cash continues to be king, even though this is exactly where you'd expect crypto to be useful. Gold and silver intuitively seem like a good option for grey market transactions, but they're way too traceable, and while the grey market is usually left alone, when the piggies do get sicced on a given grey market you're up shit creek.
30 YEARS !!!
So you are a beginner, in the early learning stage of the area of your expertise. That explains alot
Crypto has a number of valuable features for instance you can send a payment to the other side of the world and have it processed in seconds.
And if you ever are in a country that you want to get your gold out of, there is a good chance it will be confiscated and stolen at the border, meanwhile you can just walk out and access your crypto anywhere.
Bitcoin has been forked a number of times but each fork creates something different and the forks tend to fade away and become irrelevant until they are abandoned like Bitcoin XT and Bitcoin Classic.
Crypto is a much better currency because you do not have to go thru a controlled third party like a bank to ok checks. You can send it directly peer to peer like cash, but much better because you do not have to meet someone in a dark alley physically to do that.
I use my crypto backed debit card just about every day to buy groceries and other things.
It is one of a number available and they claim to be able to be used anywhere Visa or Mastercard is used in over 66 million locations globally. I have never run across a situation to dispute this.
In the case of bitcoin there is a hard fixed limit to the amount that will be created. So it is neither inflationary nor deflationary. The big increase in price is when you compare it to the US Dollar, This fluctuation is just a characteristic of a new currency that is being used by a larger and larger percentage of the population as it approaches 100 percent then the price of bitcoin will stabilize at The money supply and debt of the US Dollar divided by the number of Bitcoins.
What I find funny is that the crypto currency application is just a tiny portion of the revolution that is happening, whole new computer languages like Solidity, Simplicity, Vyper, Motoko and others have been created to facilitate things like Smart Contracts and DEFI Decentralized Finance). All this is happening and there are people oblivious to it walking around saying that Crypto is Fake, A Scam.
LMAO, you don't have a crypto credit card. You have a credit card that exchanges crypto for USD in the background.
And imagine thinking that crypto doesn't rely on a controlled third party when the whole thing is dependent on third parties running servers to process transactions.
You can have your crypto, I'll have my bullion in the safe downstairs. I guess we'll see who was right. 🤷
LMAO - I said Crypto Backed DEBIT Card
You should change your name to DyslexiaFett
And yes, you finally got something right, Crypto is exchanged for USD in the background.
I also have a Gold Backed Debit Card. That is the only way I have been able to use my gold to buy things. I have not been able to find any merchants to accept my gold directly even the ones who accept crypto directly.
I Alternate using them depending on whether Bitcoin or Gold is on a better uptrend in value.
If not I also have a regular USD backed Debit Card. The problem with that is I regularly have to keep increasing the amount I have on it to cover the cost of a full bag of groceries, something I never have to do with the other cards.
When you do a direct crypto transaction with a merchant it can be peer to peer without a controlled third party.
When you do a crypto backed DEBIT card transaction with a merchant who wants USD Cash then there are two transactions the first is a direct crypto transaction with the company that services the card, then they do a USD transaction with the merchant using of course, a third party controlled bank.
Don't ever become a mechanic.
They have a number of different tools for different things and use what is appropriate.
Its not "I have this hammer" and I am going to use it to do everything.