this post was submitted on 14 Sep 2023
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Like it was basically just digital gold… which is also a terrible currency in physical form.
I mean it is very very useful for specific purposes, like purchasing, uh, certain substances in certain, uh... unregulated online marketplaces.
As far as being a currency for other purposes goes though, I think it is incredibly unfit for purpose. And as far as being an investment vehicle goes it's essentially a ponzi scheme.
Also the hands down best way to do remittances. No more will WorldRemit steal 15% of my remittance, nor screw me on the exchange rate.
Gold is useful in that it always remains gold but that's the extent of it.
Wouldn't say terrible. Just volatile and with a specific use cas. But incaseyour currency loses value you still have some wealth wich you can use for financial interactions (assuming you still have access to it)