Nah. Definitely not faster than bank unless you're talking international money transfer. Even then there are already things like MoneyGram and if you just want to transfer to your own international account, TransferWise does a better job and it goes up to 30k. The problem with crypto like BTC and ETH is scaling upwards. As the price goes up, transferring is just VERY costly. I'd argue that ETH is actually worse than BTC. Cheapest I've paid for gas fee, this is btw when gas fee dropped huge was around 0.015 ETH or something like that. That's $20+ when ETH was around 2k. That was the only time ETH was cheaper than BTC. The issue with BTC was it was taking at least 0.001 BTC. This means for either one of them, it was only worth it if you need to transfer 0.1BTC or 1ETH and above. I paid maybe like 1/10th of that transferring money through TransferWise and very close rate too. Daily use? Impractical. This is why I don't see why it will ever replace fiat. As another asset or derivative, sure. That's not even getting to governments and central banks.

Unless you're transferring 100k or millions on a daily basis, it's just straight-up impractical. There are seriously better ways to do that.

Again, maybe we don't type and use QR code since it's convenient. But not everyone's that savvy. Second, you're really relying on cameras and there are some shitty cameras out there and phones not maintained very well. So many issues, worst is there are no CS and there can't be CS because that's the whole point of decentralization.

The current tech that we have is already hard to implement and if you compare with crypto, what we have is like nursery school. It's that easy. Yet companies still have to pay for customer service. This is not that hard to figure out.

I mean you can put it however you want bull-market genius or anything but it still doesn't change the fact that it's a terrible fiat replacement. I'm happy as long as I made profits and actually learn how it works and its practicality but I'm not going to stay in denial of its issues and live on hopium just to believe my money would double or triple. I've my own projections for these things and above a certain price, I would not pay for it. I've actually tried transferring to different entities to really test the practicality of this thing. Like from Luno to Binance and backwards. To places like CakeDefi so you can stake and make up better interest. From an investor perspective, yeah sure. But we're talking about fiat replacement here. It just sucks.

If you need to put a lot, then it defeats the whole purpose of it being a medium of transaction, isn't it? Just proves my point.

Definitely UI is a problem but it's very clear that that's not JUST the problem. If you need 0.001BTC to make a transfer and people are on hopium that it's worth up to $1m, someone is on denial.

Yeah but that's like saying this whole thing is worth only promises. This is why I called it just another asset/derivative. Until that promise shows any sign of delivery or something gets delivered, it's just another speculation. I'll still put some money in it but not gonna lie to myself thinking this is gonna replace fiat. Again, to be clear, there are plenty of things I like about it but none of it makes it a great replacement to fiat.

how to cash out LUNO to local bank?
sory, ayam noob with btc

this guy kuda lar
when naik that time crypto is everything
when turun that time, fiat is everything

everything also got naik turun one, you see got one /k here i will not name, bought at high price also relaks only

Does Moneygram allow you to transfer MYR 200k anywhere in the world? Does TransferWise allow you to transfer GBP100k instantly back to Malaysia?

Even when it comes to transferring smalller amounts like MYR30k, the transaction fees for crypto win hands down. I'm not sure whether you did your maths correctly or not. I can transfer XRP anywhere in the world in less than 2 minutes by paying less than $0.30 in transaction fees. Which bank can provide this rate? Even $20 is peanuts when compared to the rates that Fiat money changer provider charge, unless you're talking about really small amounts.

There are different use case for different payment options. Cash is good for small transactions in pasar. Credit card is good too, for small to medium transactions. Crypto is currently good for large and cross border transactions.

Lets not forget, there has been a time when credit cards are not accepted for small transactions. Adoption of new technology takes time.
Again, currently there are really only 2 types of people:

1) The ones who knows how to use crypto, and actually have enough wealth to maximise its use
2) The ones who don't. This group may know how to invest or speculate in it, but they don't necessarily know how to use it.

Is it a brown bunny profile picture ah

Actually xrp damn gooding. Only SEC case hurt it.

And instead other crypto which is damn expensive to move around go to the moon instead....
Inb4 butthurt xrp hodler

I think you're being a little short-sighted if you look at it that way, bearing in mind the whole sector is in infancy. Many of the UI problems you mention are about the same as people used to say about e.g. online shopping back in dial up era. Slow, requires expertise, inferior to existing alternatives. And we are indeed in dial up era as far as crypto is concerned. But look how far things have come. If you see the potential of the tech, and I'm fairly certain you do, IMO you shouldn't see it as speculative but as a developing technology with a 20-30 year growth horizon.

That being said. At least you're much better informed than most naysayers. So. Whatever our specific difference of opinion... Buckle in, get the popcorn and let's watch where this goes, eh?

Does Moneygram allow you to transfer MYR 200k anywhere in the world? Does TransferWise allow you to transfer GBP100k instantly back to Malaysia?

Even when it comes to transferring smalller amounts like MYR30k, the transaction fees for crypto win hands down. I'm not sure whether you did your maths correctly or not. I can transfer XRP anywhere in the world in less than 2 minutes by paying less than $0.30 in transaction fees. Which bank can provide this rate? Even $20 is peanuts when compared to the rates that Fiat money changer provider charge, unless you're talking about really small amounts.

There are different use case for different payment options. Cash is good for small transactions in pasar. Credit card is good too, for small to medium transactions. Crypto is currently good for large and cross border transactions.

Lets not forget, there has been a time when credit cards are not accepted for small transactions. Adoption of new technology takes time.
Again, currently there are really only 2 types of people:

1) The ones who knows how to use crypto, and actually have enough wealth to maximise its use
2) The ones who don't. This group may know how to invest or speculate in it, but they don't necessarily know how to use it.

Hmm I don't mean crypto or blockchain is bad, certainly not blockchain and you're right, my current issue is with the current projects. But here's the thing though, BTC doesn't change. This just means that whatever it is in the future, I can't see BTC nor ETH in it. Maybe ETH 2.0 or things like Solana. Compared to what we already have with visa, it just seems backwards (1700 transactions per second with track records). But seriously, there's no way governments are going to let go of their powers and they are necessary cogwheels in a society. It just seems natural that it will be absorbed by them for things like local currency. Also, same reasons below.
True but XRP is like the least decentralized version of them available which proves my point, it's very likely that this is just going to be absorbed by the current powers that be. Now I'm not saying centralization is bad, it just depends on who's on top and if I'm gonna depend on who's on top, it might as well be the current authority in charge.

Completely understand the different use-case but we're talking for daily use here and remember, we're talking about fiat and currency. Not store of value or an appreciating asset. I mean if you're talking about 100k and above transactions, honestly I don't see why this should replace money for 2 huge reasons. 1, why would we want to give the ultra rich ways to avoid taxing which btw simply means less money for any operating country and 2, I don't know about you but I'm fine paying with fiat. It's a depreciating asset. No, I don't want to pay in an appreciating asset. That's the whole point of storing an appreciating asset which is why it's not a currency. It's an appreciating store of value.

You said: there's no way governments are going to let go of their powers and they are necessary cogwheels in a society.

In other words, your question is whether or not governments will allow cryptocurrency to continue growing. I agree, they will not allow the use of cryptocurrencies if they have a choice. But the real question should be:

- can governments really stop cryptocurrency?
- how can governments stop cryptocurrency?
You said: why would we want to give the ultra rich ways to avoid taxing which btw simply means less money for any operating country

I agree, we shouldn't allow the rich to avoid tax. But again, the real question should be: is it even possible to stop cryptocurrencies from being used by the rich?
You said: I don't know about you but I'm fine paying with fiat. It's a depreciating asset. No, I don't want to pay in an appreciating asset. That's the whole point of storing an appreciating asset which is why it's not a currency. It's an appreciating store of value.

I agree. Cryptocurrency is currently treated as a store of value. To add on to your point, it is an asset which can be easily moved around the world. Until it has evolved to have further use case, it should be treated as such. It is a class of asset that has the following unique properties:

- can be moved in huge sum to anywhere in the world as long you have internet connectivity
- can be moved within 2 minutes with extremely low network fees
- most importantly, it can be moved annonymously without having to declare to any central banks in any jurisdiction.

There are NO other asset class that can come close to meeting the above criteria. It is one of a kind. No fiat, equity shares, loan notes, futures, derivatives, real estate, art collection etc can compare. The volatility of its price is not a main concern for those who can appreciate the true value and use of cryptocurrency.

Your mindset is currently very fixated. Your arguments imply that you believe cryptocurrencies only have values if they can replace fiat (or any other asset classes for that matter). In reality, in its existing form, cryptocurrency can co-exist with other asset classes within any individual's portfolio. Like many other asset classes such as real estate, iits use case is simply much greater for those who have more wealth.