I honestly can’t believe that’s a real argument you’re making, that’s just ridiculous. Especially given the number of rug pull scams there are with coins.

Yes there are hundreds of thousands of shitcoins and rugpulls, I’m not justifying their existence, but Bitcoin, Ethereum, Cardano, Nano, Monero, Litecoin. These chains alone can surpass credit card max TPS. There is no argument comparing one single blockchain to one single credit card service, because the reality is it is spread out throughout all of them. You don’t need more transactions per second when you can allocate these transactions to different blockchains depending on what is fastest, cheapest, safest or most private at the time.

They aren’t currencies, they’re investment vehicles backed by nothing.

They’re currencies, not investment vehicles, and some of them are directly backed by government bonds and cash (like USDC).

Block chain transactions aren’t as anonymous as you think, people can be easily revealed by looking at the wallet’s history and asking the last person you bought from “where the item was shipped to”…. Public ledger and all…

That is first of all completely untrue with for example Monero where the coins are fungible and virtually untrackable. Second of all, they’re completely anonymous as long as you don’t provide KYC to one of your wallets or withdraw money to a bank account that belongs to you. The biggest bitcoin holder to this day is completely unknown.

Ethereum can now process 1000 x 10 transactions. Visa currently does what, 80000 per second? Yeah it’s not quite 1/10th but….

Visa does 60k TPS, arbitrum can do 40k TPS. But also, 10000 is indeed more than 1/10 of 80000.

How long until arbitrum reveals the rug pull? I’m sure it will be any day now.

You get back to me when that happens. If you look at the tokenomics of ARB you should be able to tell how big of an impact that would have.

Crypto is a solution to a problem nobody has. Need anonymous transactions? Here’s some cash. Need international anonymous transactions? Yeah, those are probably better being tracked anyways. And I say that as a privacy advocate. Yes, privacy matters, no international transaction privacy doesn

Need anonymous transactions? Sure let’s send 10k by letter and see how well that goes. It would take several weeks before it arrives if the mailman didn’t suddenly lose track of it. International transactions are very expensive and get arbitrarily blocked. “Solution to a problem no one has”… I literally cannot pay my student loans because my Japanese bank blocks credit card transactions to the one system the Swedish student loan agency uses for credit card payment, and sending money by bank transfer costs up to 10% of the wired money. Do you think I want to spend over 4,000$ on fees just to pay my student loans? It cost me 0.01$ to send all of that through Ethereum layer 2 in less than a minute to a family member so they instead could make the credit card payment. You think no one has any problems with traditional banking and payment because your privileged ass never had any issues. In China people couldn’t withdraw any money from their banks during the evergreen ponzi. Crypto was available at that time.

Ya know what most “anonymous” international transactions are? Scams.

Most of them are trades, next are off-shore transactions, third are donations. Scammers use Amazon gift cards, not cryptocurrency, because old gullible people have no idea how cryptocurrency works.

Let’s break this down to a single argument though…. Crypto is the answer to a problem nobody has. Smart contracts? For what exactly? Anonymous international transactions? What’s the need? As a society we’ve decided that some types of transactions are illegal. Yes, sometimes governments make things illegal that they shouldn’t, and authoritarians around the world make all sorts of things illegal that they shouldn’t… but for your necessities, they’ll all be available locally. And under an authoritarian enough regime, they can just inspect your mail anyways. Society requires trust, and that’s going to happen locally no matter what coin you use. It’s great that I can have a zero trust model for sending money, but it’s useless, because ultimately you still need to trust the person receiving it to do the exchange.

The problems:

1. Banks refusing to let people withdraw their money (China, 2022),
2. Visa blocking art platforms from all credit card payment until adult content is cleared from the platform (deviantart, pixiv, 2024)
3. International bank transfers being buttfuckingly expensive (everyone, anytime)
4. Credit card companies and banks selling your transaction history to advertising companies (US, 2024)
5. Banks arbitrarily blocking credit card transactions (even very important ones such as student loan payments) because their targets aren’t domestic.
6. Credit card services charging 1.5% - 3.5% fees per transaction despite the actual cost being virtually none.
7. VPN services keeping your credit card information, essentially linking all your activity to you specifically instead of anyone using your IP.
8. Having to register an account, give your name and address, credit card info and phone number to be able to donate to your favorite content creator, then have your data be leaked among millions of other people’s data in a giant data breach.

Why don’t you give me a good few solutions to these problems? Cryptocurrency solves all of them at once.