Thoughts on crypto for payments?

[Letsplaypgh]

What is the community's thoughts on this? Do you know of people that prefer or also use crypto for transactions? It's pretty easy to do now and if you do it right, with a dedicated digital wallet, it seems like it would be easy and (mostly) untraceable for both parties.

[SSDman]

I think its a good idea but everyone needs to weigh up the risks.


If cryptop deposits are done up front you're out on your ass if the other party doesnt show or is a scammer.
While crypto is said to be untraceable, most transactions are recorded on ledgers, many of which are public. That may not be a big deal today but I would definitely consider the future. Most governments are very transparent about slowly eliminating cash so they can monitor and control the peons. The move to virtual currency for all is obviously on their radar when it is feasible. When that happens expect previous transactions to be subject to scrutiny.



That might not be a problem if you only dabble every once in a while but if you have a lot of money or a lot of enemies or a lot of public exposure/importance/fame, weigh the risks even more heavily and watch your back. Do more research on new currencies as they come out.

[Unique_Carpenter]

There's processing costs (commissions) on every transaction. And most folks would want to convert to cash, so two commissions and the loss of time messing with it.

And yes, nowadays traceable. Maybe difficult accross an international border, but more and more nations are working together on that.

Simply easier to use Jackson's and Grant's.