I trust the provider, and it’s a small amount I’m willing to risk. Just don’t want to throw it away, be frustrated, or get involved with shady people.

Android/Windows user, btw.

For those people who are wondering why I would ask Lemmy strangers about my money decisions, let me tell you my thinking.

I am in the decision making process. One of the things I do when making decisions is gather information from a variety of sources. I then weigh that information as to how useful I find it, research any possible leads, and use it as a launching point for my own investigation. I find that beats the hell out of googling whatever I can think up on my own in a field where I have no experience whatsoever.

For clarification, I’m not telling anyone else how to do anything. You humans live your life however you want, and I respect you as individuals with opinions of your own. Live how you want to live, choose how you want to choose, be how you want to be.

Much peace to all ✌️

  • ImplyingImplications@lemmy.ca
    0·
    10 months ago

    You’re buying pornhub premium, aren’t you? Unfortunately, I also wanted to buy something from a site that only took crypto as payment.

    I ended up creating an account on Coinbase, which required a whole bunch of personal information from me. That was very concerning, but they seem like one of the few crypto sites that aren’t totally shady. It’s apparently a law they must follow to tie my personal information to all my crypto trades to prevent crime or something. After they verified my government IDs and bank account details, which took a day or so, I was authorized to buy crypto.

    I bought the exact amount I needed. It took about 35 minutes to confirm the transfer, and only then did I realize coinbase takes a fee, which means I actually had less than I needed. I buy slightly more crypto, wait another 30 minutes for all the super cool futuristic cryptoblock hashing to be completed, and now I finally have enough crypto to buy that $20 thing I wanted.

    I tell coinbase to send my 0.0000018364929038484920385 coins to xhfhfosnjwifbgnsoahdbfiaojdbfidhsbdmfodhsbd and the site eventually confirms the transfer after yet another 30 minutes of hashblocking.

    It took me about 2 days and $30 to buy something for $20 using crypto, and I have never hated crypto bros so much ever for believing this is how all payments will work in the future.

    Edit: I forgot to add that ever since then I receive a dozen crypto scam emails a day.

    • centof@lemm.eeEnglish
      0·
      10 months ago

      Why would you hate someone for their beliefs? Is it really such a bad thing to hope and advocate for a future where government doesn’t control the value of your money?

      • belated_frog_pants@beehaw.org
        0·
        10 months ago

        Crypto is a capitalism scam, not an anarchist idea. You should read up why governments want to regulate currency.

        True anarchism of value is about owning the means of value. The black market is common people eschewing government set value. Crypto is a grift like inflated stocks where the last one holding it is the loser.

        • centof@lemm.eeEnglish
          0·
          10 months ago

          Crypto is a capitalism scam, not an anarchist idea

          Source?

          Also ooh scary buzzwords, that mean nothing in this context.

          You should read up why governments want to regulate currency.

          I might if you link me to some recommend links or sources where I can. My understanding is it is mostly to control the money supply.

          Crypto is a grift like inflated stocks where the last one holding it is the loser.

          Most crypto projects are grifts, I acknowledge that. Even so a few cryptos have actual legitimate use cases like monero.

          But I don’t see how stocks has anything to do with that. Cash is used for MLM scams does that mean I shouldn’t use cash for anything?

      • doppelgangmember@lemmy.world
        0·
        10 months ago

        I get it philosophically, but…

        crypto = no underlying value (unless it was a 1:1 ratio with some measurement of electricity like a bond almost, ideally being a unit of energy we exchange unto itself)

        so for now…

        money = government

        Plus, we’d need someway to independently run, manage, and maintain an autonomous system outside of the government controlled infrastructure. Which, unless we make serious energy/education/resource breakthroughs is not going to happen anytime soon sadly.

        • centof@lemm.eeEnglish
          0·
          10 months ago

          Some good points there. I would say money is value backed by (state sanctioned) violence while crypto is money backed by a proof of electronic work.

          Ultimately humans create value. Simply using crypto gives it value. Government money(fiat) only has value because people and and organizations agree it has value.

          Monero is a crypto that tries to be like cash in its anonymity and commitment to nontracking. It has legimate and ‘illegimate’ uses just like cash. You can buy VPNs privately with monero or you can buy dark market goods.

          Monero is to cash as lemmy is reddit. Similar to how social media platforms like facebook and reddit are prone to the network effect so is money.