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Cryptocurrency is a speculation mechanism, not replacement for banks, but in all fairness 1) is true. There are numerous scams that exploit the fact that it may take up to a month[^] for a bank transaction to clear.
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Gerry Schmitz wrote: 1) "The banks take a long time to clear a cheque" (Never heard of automatic bank deposits apparently).
Just because the bank gave you the money does not mean it has cleared. They can still take it back if they find an issue with it. And it still takes days for it to go through and process with the bank that is on the check. It's all still a slow process.
Gerry Schmitz wrote: ) "The banks take a bigger fee" (Never heard of "interest", deposit insurance, debit cards, senior rebates (lol), etc.).
Credit Unions provide better services than banks and do NOT charge fees, so yes, they are charging extra fees.
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Whether it ends up being crypto or not, it should be very clear to everyone that a digital currency will rule at some point. So, rather than bash crypto as if digital will never be a thing, fix what's wrong with crypto because it's inevitable that some form of digital will win.
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SeanChupas wrote: it should be very clear to everyone that a digital currency will rule at some point
Should it? What's the advantage? Plain old currencies mostly exist in digital form as well (what's the use of actual physical coins nowadays, maybe to pay for public toilets or to give to beggars?), so the advantage (if any) would have to be something other than digitalness by itself.
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harold aptroot wrote: , so the advantage (if any) would have to be something other than digitalness by itself.
I disagree.
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Very well, you have forfeited the argument and I have won the debate.
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My debit card is "digital currency" as far as I'm concerned.
Whatever happens, people need an "account".
In this rush to the "universal currency", what's missed is that everyone will need a "device" to manage / access that account.
They say the "poor" people need cryptocurrency because they have to "cash their checks" and they have no "bank account" (but they all have a phone, apparently).
We've then come full circle: the non-bank account that is a bank account; the Feds will still want their tax and come looking.
If cryptocurrency ever gets "big", the speculative part will disappear and it will be the banks and firms grinding out small gains with their computing.
All it does now is feed whales like Musk with their "mysterious tweets" to the unwashed (who respond as he wants them to do ... buy / sell / hold / buy my Tesla or ticket to the moon).
It was only in wine that he laid down no limit for himself, but he did not allow himself to be confused by it.
― Confucian Analects: Rules of Confucius about his food
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I always look at the recommendation to buy into that lunacy as something the financial wiz's do right after they buy in (and shortly before they sell out on the rise from the demand they hoped to create).
| Ravings en masse^ |
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| "The difference between genius and stupidity is that genius has its limits." - Albert Einstein | | "If you are searching for perfection in others, then you seek disappointment. If you seek perfection in yourself, then you will find failure." - Balboos HaGadol Mar 2010 |
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Gerry Schmitz wrote: Because it's "faster" and "cheaper".
At the tradeoff of being open to theft and manipulation? IMO, the computer system(s) that cyptocurrency has to reside on will be controlled by someone (most likely the government). That "someone" can be bought/corrupted/stolen from and we'd have no recourse. I realize the same thing can happen to my paper money, but I have a choice in whether I put it in such an institution or hold it myself.
"One man's wage rise is another man's price increase." - Harold Wilson
"Fireproof doesn't mean the fire will never come. It means when the fire comes that you will be able to withstand it." - Michael Simmons
"You can easily judge the character of a man by how he treats those who can do nothing for him." - James D. Miles
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Go in the room where their current owner slave, wearing dark glasses indoors, has attached weird stuff to the floor ... and, then: stay there more than five seconds: [^].
Yet 500 humans, love-slaves of 500 cats, were crazy enough to join this experiment.
«One day it will have to be officially admitted that what we have christened reality is an even greater illusion than the world of dreams.» Salvador Dali
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This brings to mind one of the older Internet memes: "Cats do not have owners, they have staff."
I've always disagreed with this statement, and thought my version captured more of the essence of the relationship: "Cats do not have owners, they have clients."
Software Zen: delete this;
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Standing in line at the pet barn the other day waiting to buy flea treatment, I spied a slogan on a bag that nearly brought me to tears and made the rest of my wait melt away.
If cats could text you back,
they wouldn't.
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In almost 40 years of being a client of many felines, I've had one that would have.
Of course, Raphie would have only sent NSFW pictures of himself... 
Software Zen: delete this;
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They didn't answer "why". They just proved that 6% of humans were bored enough to carry through this "experiment."
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... in Valentines mode?
Is he just "Hungry For Love" and can't wait for February?
"I have no idea what I did, but I'm taking full credit for it." - ThisOldTony
"Common sense is so rare these days, it should be classified as a super power" - Random T-shirt
AntiTwitter: @DalekDave is now a follower!
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It may be in connection to the first Sunday of May (that is not the 1st of May, which is already occupied) - it used to be the Mother's Day when I was younger...
"The only place where Success comes before Work is in the dictionary." Vidal Sassoon, 1928 - 2012
modified 9-May-21 3:40am.
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Erm ... it's sunday ...
Ah! It's Mothers Day in Canadia - that's in March in the UK. 
"I have no idea what I did, but I'm taking full credit for it." - ThisOldTony
"Common sense is so rare these days, it should be classified as a super power" - Random T-shirt
AntiTwitter: @DalekDave is now a follower!
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Oh those English, always bending the rules!
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I meant Sunday - Saturday was a typo thing (probably because the weekend differences)...
"The only place where Success comes before Work is in the dictionary." Vidal Sassoon, 1928 - 2012
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American Mother's Day. No connection to Mothering Sunday.
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Mothersday over here in the Netherlands too, sent a bouquet to my mother and she was very pleased with it!
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Mother's day in Germany too (2nd Sunday of May)
In Spain was last week (1st Sunday of May)
M.D.V. 
If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about?
Help me to understand what I'm saying, and I'll explain it better to you
Rating helpful answers is nice, but saying thanks can be even nicer.
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Those are Mother's Day roses. The second most expensive time of the year to buy a dozen roses.
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