In addition to using it as a currency, sure. But as I asked rigatti, is that a problem? At worst one might perhaps argue that the name "cryptocurrency" is misleading, but I've never cared much about semantics like that.
I’m well aware.
But far, far, far, far more people use it as currency. Exchanging it for goods and services is clearly the main use for it.
Crypto is used like a stock.
FaceDeer@kbin.social 4 months ago
TheGrandNagus@lemmy.world 4 months ago
You’re saying “in addition to using it as a currency” as if that’s actually what people do with crypto. They don’t.
And yeah, it is a problem. It renders it useless outside of as a bit of gambling on the side.
FaceDeer@kbin.social 4 months ago
Alright, so let's call them cryptotokens instead. I've always preferred that myself, it's a much more general description of what they do. It doesn't change what they are but if that term makes you happier we can go with that.
It renders it useless outside of as a bit of gambling on the side.
Hardly, there are lots of things you can do with these things. A ledger is more than just money, it's a database. You really can't think of useful things that could be done with a completely decentralized and permissionless database?
TheGrandNagus@lemmy.world 4 months ago
People don’t use bitcoin or other cryptocoins as a general purpose database. They use it as they’d use a stock.
deafboy@lemmy.world 4 months ago
There are people who ride the bike as a means of transport. Then there are people who build their entire identity around riding a bike. That doesn’t mean one or the other rides it wrong.
A token of value can have multiple different usecases at the same time.
TheGrandNagus@lemmy.world 4 months ago
Bikes are used as a mod of transport. That’s what everybody uses them for.
Crypto isn’t really used as a currency. It is used like a stock.