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[+] 25 points 1 year ago (7 children)
  • [–] 1 point 1 year ago

    It's because the vast majority of people "into crypto" have no interest in the actual underlying asset. They're just hoping to get rich. I honestly think it destroys any potential crypto had. It's a shame because it would be good to have an alternative to credit cards for digital transactions, and especially to have a push payment method, as opposed to the pull method used by banks and credit cards

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  • [+] 3 points 1 year ago (1 child)
  • [–] 6 points 1 year ago

    I remember launching my wallet that I hadn't touched for years and I was hit with many days of syncing. It basically had to download gigabytes of data about blockchain since the last time I touched the wallet. I was blown away by the inefficiency and resource usage for seemingly simple things

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  • [–] 3 points 1 year ago* (last edited 1 year ago)

    It dominates because it's the one that everyone knows. If you're lucky enough to find a shop that accepts crypto it's almost certain that the crypto they accept is bitcoin and bitcoin only. despite its flaws it is a proven technology. It might 3 hours to send an on chain payment but you don't have to worry about a technical glitch dropping it.

    I somewhat agree about it being not great though. it has serious scalability issues that were supposed to be addressed by lightning but lightning adds a lot of complexity imo. My grandma is never going to be able to figure out how to use lightning whilst still being able to benefit from a self custody wallet.

    A lot of the newer coins that crypto bros bang on about seem to be centralized under private entities, "regulation friendly" and not distributed.

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