Reasons Crypto as Currency Doesn't Make Sense To Me
I want to like it. I really do! I thought it was a great idea from the beginning. I tried building a little mining rig back in 2014, I told everyone I knew about using it. But as much as I want it to be useful, it's just not. Feel free to try and change my mind
1. It's too expensive.
Fees to buy it, fees to spend it, fees to trade it. Where do the fees stop? Businesses complain about paying 2.9% on credit card transactions but crypto is way more in most cases.
2. There are too many of them
I do own crypto. When I open my coinbase app there are like 200 crypto's in there. What do they do, why so many? Too many options makes people not want to dig in and decide.
3. Trying to spend it is scary
Ever tried sending bitcoin to someone? You get that crazy warning that if the wallet address is off (which is a string of like 30 characters that's like proof reading a different language) you lose it and it's lost forever. Make's ya nervous to even try to send it.
4. Price fluctuations
Bitcoin seems to have the most backers, but the price changes every hour. Stable coins are a dime a dozen so to use it, you need to find someone else using the same coin as you are.
5. Seems like bitcoin has had a good run recently
It's gone up for ~6 weeks in a row and there is news about the whales out there buying tons of it. It's obviously around for the long haul as a holder of value, but not useful to spend.
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