Re: Do you use cryptocurrencies?
I don't think referral links are allowed on Ubuntu Forums, although I may be wrong.
I have bought some fractions of a bitcoin and spent some on various things. A cafe on my way to work takes Bitcoin, so I've bought a few coffees and cakes and a fruit salad using BTC. It's very easy to do a face-to-face transaction with Bitcoin, and very quick.
I also believe I was the first person in my city to buy a beer with bitcoin.
There's not much I need to buy at any given moment, but I have bought a shirt with Bitcoin. Waiting for it to arrive. This was an online purchase. I've also donated to my local Bitcoin association, and I'm a Bitcoin Foundation member.
People do make money "shorting" bitcoin, but I always seem to buy at the wrong time! I'm not in it to buy and sell bitcoin, I want to buy Bitcoin and then use it for practical purposes. I don't buy big amounts, I just slowly put small amounts into my wallet using a local exchange. And no, I don't keep my coins or fiat in an exchange. Never did.
People also make money by buying other altcoins low and then selling high. I don't see anyone making massive amounts of money from altcoins though, their userbases are very small and you can't use many altcoins to actually buy anything.
Yet others build businesses in the Bitcoin economy, or build and sell mining machines, or buy mining machines and then use them in a 'pool' to get bitcoin. That requires significant investment. I don't recommend it to the faint of heart.
So why do I use bitcoin? I think our monetary system is wrong on several levels. Taxation takes money away from people to pay for government, a necessary evil. Inflation takes value away from people's savings and destroys it. Plus, no matter the rate of inflation, the cost of living seems to always go up faster than the inflation rate. This is, obviously, not sustainable. It must crash down at some point.
Bitcoin is currently inflationary (as new coins are still being minted), but the amount of bitcoin use does not affect the supply of bitcoin, and no government can change this. The value of bitcoin can go up, reducing the cost of living in relation to earlier savings. Deflationary money is often dissed as causing a "deflationary spiral" or encouraging hoarding, but if the rate of deflation is suitably small these effects would be almost nil. The same as the current rate of inflation doesn't encourage panic spending.
Bitcoin is really a new way of doing things, both as a payment processor and an actual currency. The rules are simple and easy to understand compared to government money. It's an even playing-field. I like the technology behind it, but I also like the idea that the people can create their own economy based on different principles. Sending money overseas is a breeze with Bitcoin. Paying a merchant no longer means that my secret financial information (credit card details) are potentially stored by the merchant. Anyone can accept Bitcoin payments without needing to have a relationship with a credit card company and a $500 machine - imagine how many innovative startups will be incubated with Bitcoin funding. Imagine how almost every aspect of society could change with a currency that operates by different rules. That's exciting!
And then, if Bitcoin's value increases before I spend it, so much the better.
Qoinpro is a variation of the old "faucet" site, where you get sent miniscule amounts of bitcoin. It's not worth using faucet sites as the effort/payoff ratio is terrible, although if this one automatically pays out money without you having to spend effort every day it's probably worthwhile giving it a go.
I try to treat the cause, not the symptom. I avoid the terminal in instructions, unless it's easier or necessary. My instructions will work within the Ubuntu system, instead of breaking or subverting it. Those are the three guarantees to the helpee.