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.
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.