anyone Taking Crypto for Work Yet

[stickermigtigger]

I’ll take BTC and ETH for welding work and even offer a generous discount but I haven’t found any customers willing to pay in it, yet.

Of course I can’t blame them since I wouldn’t let it go either.

[MAC702]

Willing to pay in it, or able to pay in it? The latter requires they have some.

After that, it's no different than any other kind of bartering. I'll do work for real estate, but haven't found anyone willing to pay in it. Either they don't have any available, or they know that eventually it will be worth more than it is now, and its value will rise more than what they could trade it for, so they keep it. The discount is insufficient to cover the future losses in the investment.

As for me, I won't accept it. I'm old enough to not care about another kind of fake money.

[aametalmaster]

I have traded for metal, car parts, patio fireplace, and scores of other items. But not crypto.

[ryanjones2150]

I agree with Mac. I’ll trade for beer before I take some interweb coin thing.

[stickermigtigger]

Think I'll just drop this here:

https://www.youtube.com/watch?v=UlJku_CSyNg

[stickermigtigger]

Some interesting tidbits about who owns Bitcoin (interweb fake money, haha), you know, that asset that for the last 13 years has had a 408% mean annual increase in value. The one with the $1.5 trillion market cap.

The demographics notes might have something to do with crypto's popularity. https://triple-a.io/crypto-ownership/

[stickermigtigger]

Check this out and explain why one would take gold over Bitcoin?

https://charts.woobull.com/bitcoin-vs-gold/

[ryanjones2150]

I don’t understand it and have no interest in it, that’s why I won’t take it. I’m sure it’ll be a good deal for someone, just not me.

[Electric4Life]

When Bitcoin can be used to pay the power bills or bottle exchanges and welding rod that's when I'll accept Crypto

[Kpack]

How do you determine how much the crypto is worth?
It trades 7/24 and the price is up and down every minute.

[aametalmaster]

My cousins mined bitcoin for years. Don’t know if they made money but the high electric bills were a killer

[Sberry]

My neighbor has a whole garage full of stuff that doesnt work, one of those things running, I am about sure it doesnt work any better of the rest of it. Plug in a machine and generate money.

[ryanjones2150]

I work with a guy that got into one of those crypto things, ding dong coin or something like that. He bought a bunch and then dropped a big pile of cash on building computers to do the mining thing. I don’t think he made any money, but he has a whole rack full of confusers.

[aametalmaster]

My cousins had rooms full of computers all 220v. Then they built a tank to submerge all of them in. Then added a cooling tower with fans to cool the water. We are talking rooms full of equipment. The electric bill was like $38,000 a month. The cooling equipment was supposed to offset the electric so they didn’t draw as much. I read where people are buying old coal fired power plants and converted them to gas for the electric

[Auto_Tech]

There are close to 10,000 cryptocurrencies already and more are coming every day -- field is saturated and while they may act as a "store of value" they have no central authority, nor readily available ACCESS for the vast majority of people to use, plus they suck up an enormous amount of electricity just to keep the infrastructure running. Cryptocurrencies are like old baseball trading cards -- they had value (initially) given their rare / just released / new to market nature, but once the "printing presses" kicked in their value went down. It's like any product that enjoys first to market advantages, such as the Tesla --- eventually the pack catches up and their lofty valuations all come back to Earth.

As for their "store of value", there have been hundreds of hacks against crypto currencies, one against BitMart just recently that resulted in a $200M loss to customer accounts -- bottom line: crypto currencies have been a boon for cartels, mobs around the world (they conduct most of their transactions over cryptocurrencies), but given the level of hacks against these self-described "impregnable" (encryption/decryption block chaining) cryptocurrencies, it appears they're quite a bit more vulnerable than their proponents argue.

China's already banned their use and I expect many countries to follow. They'll all ultimately be replaced by digital currencies (these are not crypto currencies, but crypto block chaining will be a likely feature of digital currencies) controlled by central governments that will also provide better access.