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by denkmoon 22 days ago
Have you ever actually used crypto to buy something? The transaction fees are exorbitant and prohibitive, and it's slow as balls.
2 comments

Yes, all the time. I usually pay a 1 cent fee and the transaction goes through in seconds. Not sure what you're talking about.

I can send you some if you want to try it out, just drop an address(for a wallet I recommend cakewallet, but any popular open source wallet works).

I'm talking about Monero specifically, but your reply makes no sense because there are cryptos that have 0 transaction fee and instant confirmaiton. But they are less secure and private so I don't use them, I only use Monero.

Yeah, monero has low transaction fees. And is a pain in the ass to get, even more so in significant quantity or at a good exchange rate. You pay a significant premium for the privacy. So just different types of fees. Monero is also far from instant in my experience.

I too have plenty of purchasing experience with crypto and I wouldn’t advocate for it for any legal transaction.

> And is a pain in the ass to get, even more so in significant quantity or at a good exchange rate.

It's easy to get in the USA on Kraken from fiat for a very low fee or 0 with their pro plan.

> Monero is also far from instant in my experience.

It's up to the merchant to decide how many transactions before finishing their end of the deal. For small purchases it's low risk to do 0 confirmations and you can scale with price.

I've seen hundred dollar sales given out as soon as the transaction hits the mempool, before the first confirmation as well as 5 dollar sales that require waiting the whole 10 confirmations.

That depends on the currency you use. I've only ever used Monero and the transfer fees are fractions of a cent.