this post was submitted on 24 Jul 2025
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Transactions should be autonomous push transactions, which crypto does. To send money with crypto, you actually send it, as opposed to a merchant pulling money like with credit cards. The additional part is crypto is autonomous. No card company acting as arbiter of all transactions
In that way crypto is objectively a superior method of transaction
Where it fails is throughput, use as a speculative investment, and lack of stable backing. Throughput can be solved, but I don't have a solution for the other two. Bitcoin was honestly great to use for transactions (where you could) until the value exploded. Ethereum is okay, but not great, even with other transaction technologies stacked on top
The US recently passed legislation regarding stablecoins. If I understand correctly, they now need to be backed 1:1 by the US dollar or a "low-risk asset". The latter seems dubious to me, but I'm curious to see what will come of 1:1 dollar pegged coins if the US government is throwing its weight around to support the concept...
I can't believe I'm seriously entertaining the idea of using cryptocurrency, but here we are in 2025... -.-
2: It's gradually stabilizing, with the % change of bubbles/crashes getting smaller over time.
3: In the sense that gold is backed by its usability for jewelry, bitcoin is backed by its usability for secure time stamps.