Is the crypto used only to buy illegal stuff or is there more?

R

RiverBohemian

Junior Member
Joined
Jul 29, 2021
Messages
115
Reaction score
27
The title says it all.
I'm not sure why people would use crypto coins instead of money in other cases.
 
Advertise on BHW
people buy crypto mostly to speculate and turn a profit.
 
One month ago I sold a yt channel for $1K, the buyer send the money directly to my bank account from UK, after 7 days I got a phone call from my bank that I have pending transaction of $1K Remittance and I have to visit the bank to provide additional information. Then I have to write an application, print additional documents and attach them and fill up an additional document from the bank ( from where the money come from, who send the money, why send the money, money amount) then after two days my money added to my bank account

Some days ago I sold another yt channel for $2K and get the payment with USDT, get the payment within 2 minutes, sold the usdt by p2p binance, and get the money to my bank account within 10 minute.

Now you compare what is best option
 
RiverBohemian said:
The title says it all.
I'm not sure why people would use crypto coins instead of money in other cases.
Click to expand...
There is tons of use cases.

Imagine if you’re a US citizen and want to send money to family in a country that doesn’t take normal bank transfer & western union is full of fees. You could use crypto and have a low fee near instant transaction.

same concept for paying people for any type of job that are located in another country. In a lot of countries that experience hyperinflation they’ve starting to move over to crypto with the $1 USD stable coins as a store of value
 
Cryptocurrency and decentralized finance were originally started to get away from centralized (corrupt) entities like the Federal Reserve and away from fiat currency (currency backed by nothing but the government's decree).

Defi is how humans can gain a sense of freedom and financial abundance that centralization & fiat have stolen from us. It means we can transact peer-to-peer without unnecessary fees from middle men like Visa, PayPal, Venmo, etc. Or banks who do not have our best interest at heart.

Crypto also saves us from currency devaluation which is when the dollars we hold (or any other currency bc the dollar is the reserve currency of the world) lose value because the government has printed more of them. Which is always happening.

So crypto & defi are actually meant to help us steer clear of illegal & immoral activities by those currently in power.
 
RiverBohemian said:
The title says it all.
I'm not sure why people would use crypto coins instead of money in other cases.
Click to expand...
a dozen of reasons. just to name one, PayPal and similar services are not a thing everywhere. to buy a product here in BHW, the cheapest, easiest and fastest way from where i am from is a crypto transaction.
 
Bitcoin is designed replace government and banks control over your money but you have to secure your private keys.The greater problem is that most of population minds are like children easily tricked into paying government's protection racket fees called taxes.

"Taxes help pay for roads"
"Rich people are not paying their fair share "
 
It's an alternative. Before crypto there was nothing to compete with money
 
With crypto, one can send any amount of money (crypto), to anyone anywhere in the world (yes, to anyone ANYWHERE in the world), in just a few minutes, and with low transfer fees. And many people are crypto illiterate and think crypto payments are non-refundable : CRYPTO PAYMENTS ARE REFUNDABLE.
Crypto is the fastest, cheapest and safest way to pay anyone anywhere in the world.
Oh, yes, most people are crypto illiterates and will dispute what I have mentioned.
Sure, let's do it ... What that I've mentioned does anyone dispute AND mention VERY CLEARLY WHY you dispute it and it would my pleasure to respond.
 
roydan said:
Bitcoin is one of very few hedges against inflation we have. But it needs a few more years before it can really act as one.
Click to expand...
That's what I thought, but some of the people gave me a new insight.
JavascriptPufferfish said:
a dozen of reasons. just to name one, PayPal and similar services are not a thing everywhere. to buy a product here in BHW, the cheapest, easiest and fastest way from where i am from is a crypto transaction.
Click to expand...
That is true, unstable countries can be bad for trade.
 
roydan said:
Bitcoin is one of very few hedges against inflation we have. But it needs a few more years before it can really act as one.
Click to expand...
I agree with you. But imo, crypto won't replace conventional money
 
djsobuj said:
One month ago I sold a yt channel for $1K, the buyer send the money directly to my bank account from UK, after 7 days I got a phone call from my bank that I have pending transaction of $1K Remittance and I have to visit the bank to provide additional information. Then I have to write an application, print additional documents and attach them and fill up an additional document from the bank ( from where the money come from, who send the money, why send the money, money amount) then after two days my money added to my bank account

Some days ago I sold another yt channel for $2K and get the payment with USDT, get the payment within 2 minutes, sold the usdt by p2p binance, and get the money to my bank account within 10 minute.

Now you compare what is best option
Click to expand...
Banking regulations vary from country to country. In some countries you could receive the payment direct into your bank and won't have any issues. Others, you would only be called to come show proof when you receive huge amount wbich I don't think $1k is huge enough.

But I get it, crypto is fast with less of these regulations and the stress that comes with it.
 
Just because something is called "crypto" doesn't mean that it's automatically associated with illegal activities. In fact, there are a lot of legitimate reasons why people might want to use cryptocurrencies.
 
Most of people buy is for future profits like stocks. But it turned out crypto is more like a gambling rather then investment
 
djsobuj said:
One month ago I sold a yt channel for $1K, the buyer send the money directly to my bank account from UK, after 7 days I got a phone call from my bank that I have pending transaction of $1K Remittance and I have to visit the bank to provide additional information. Then I have to write an application, print additional documents and attach them and fill up an additional document from the bank ( from where the money come from, who send the money, why send the money, money amount) then after two days my money added to my bank account

Some days ago I sold another yt channel for $2K and get the payment with USDT, get the payment within 2 minutes, sold the usdt by p2p binance, and get the money to my bank account within 10 minute.

Now you compare what is best option
Click to expand...


Agreed, there are scammers active, ordering services products online,
And doing chargebacks, force refunds
Companies like amazon eBay lose many billions from this .

So if Amazon switched to crypto payments only , they solved this problem.

Imagine doing a 100k service for a client online, you spend 60k in delivering it .
After 3 months the client needs money , does a chargeback
You worked and lost 60k doing so, all thanks to FIAT

Crypto protects you from this , so its a safer way of trading
 
Advertise on BHW
You must log in or register to reply here.
Sign up now!

Main Menu

Home Main Forum List Black Hat SEO White Hat SEO BHW Newbie Guide Blogging Black Hat Tools Social Networking Downloads

Marketplace

Account Selling Content / Copywriting Hosting Images, Logos & Videos Proxies For Sale SEO - Link building SEO - Packages Social Media Social Media - Panels Misc

Making Money

Affiliate Programs Hire a Freelancer Making Money Pay Per Click Site Flipping

BlackHatWorld

BHW Merch Forum Suggestions & Feedback Introductions Lounge Dispute Resolution

Other

Domain Name Forum IM Journeys Web Hosting Newsletter
Back
Top