what do you ACTUALLY use crypto for? because im starting to think its just a casino chip with a "future of money" story on top

One caution to add for anyone reading this and thinking of parking real savings in a stablecoin instead of a bank. Do the boring homework, exactly like you'd vet a casino.

USDT is the biggest and most liquid - Tether reported something like $141 billion in US Treasuries backing it earlier this year. But "reported" is carrying weight there: attestations are not full audits. USDC leans harder on transparency. And either way, a stablecoin sitting in your own wallet has no deposit insurance. If the issuer wobbles or the peg breaks, there's no FSCS, no FDIC, nobody to call. It's a dollar right up until the day it suddenly isn't. Fine for a bankroll. Think hard before it's your life savings.
 
right so my £12 is not really spendable for you?!! ok ok at least it could be a decent long term bet, definitely a casino chip. got it. think ill just carry on losing it on stake for now, at least thats a use case that definitely works 😭
 
for us crypto was never a "future of money" debate, its just the rail that works. cant use a normal card for gambling here, cant always trust the local banks, so USDT is my deposits, my withdrawals and my savings all in one. you lot in europe get to sit and philosophise about whether its "real money". for us its just the pipe that works when the official ones don't
 
honestly i just cash mine out to pounds the second i win, cant be doing with holding it and watching it go up and down all day. id rather have it sat in my bank were i can actually spend it on normal stuff. all this fancy card and stablecoin business is to much faff for what its worth if you ask me
 
So to summarise thirty years of financial innovation: it's a chip you gamble with, a share you're too frightened to sell, and a dollar for people whose dollars broke. And you cannot buy a loaf of bread with any of it without a plastic card that quietly turns it back into the exact money it was invented to replace.
Remarkable stuff. Truly
 
chapmanwins said:
So to summarise thirty years of financial innovation: it's a chip you gamble with, a share you're too frightened to sell, and a dollar for people whose dollars broke. And you cannot buy a loaf of bread with any of it without a plastic card that quietly turns it back into the exact money it was invented to replace.
Remarkable stuff. Truly
Click to expand...
reduced the entire future of finance down to a loaf of bread AGAIN 😂 never change grandad
 
seems like crypto's actually good at a few real things - a store of value bet, moving money across borders, being money where the local money failed. everyday spending in a stable western country just isnt one of them yet, and pretending otherwise was always the weakest sell

anyway. back to using it for the one thing its undeniably, reliably good at - losing on crash 😅
 
id say single most honest use case identified in the entire thread and its "losing on crash" 😂 put it on the homepage
 
tldr should i be buying bitcoin right now or is usdt a better one to get into? cheers
 
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