Are you crypto experienced?

😭 Today I had my first 'crypto experience'. Emotions? Complete disappointment. No scam/fraud! 😥 But the same 'feelings'. I'll describe in detail, in case anyone's interested.

Background: I got a 50% discount on a service I sometimes use. The discount only works with crypto. The price in question - $9 I think, the time has come! 🤓

1️⃣ BYBIT, I go to P2P (in Russia, it's the only way), buy Ethereum 'second-hand' for 1.5K₽ 💥 BUMMER! ETH rate - 369,000 Rubles (+47% to 'exchange rate' 😱). BTC rate - 7 million rubles (+20% more expensive 😱) Okay, I think, I'm getting 'experience', and you have to pay for 'experience'. I buy 🤝

2️⃣ I go to pay for the service. And here 💥BUMMER! The service seller only accepts Mainnet, and I can't pay with the 'ether' I bought.

3️⃣ I convert 'Ether' to Bitcoin, try to pay again. And... 💥 BUMMER! The transaction fee is 0.00012 bitcoin - that's about $7.6 😳 I have to pay $9 for the service, and add a commission of $7.6 on top, which is almost the entire 'discount'

4️⃣ I decide to buy with the commission, for the sake of experience. What a wonderful miracle! 💥 BUMMER! Minimum amount - 0.0013 BTC - that's about $82! 😳😬 (if you remember, I bought 'ether' for ~ $15)

5️⃣ I notice that the service also accepts Litecoin. I decide to convert from BTC to Litecoin. Again 💥 BUMMER! Minimum amount for 'conversion' - 0.0005 BTC, or $31 😳 (I only have ~ $15)

6️⃣ I buy more BTC up to 0.0005 BTC, convert to Litecoin and, finally, pay for the service 😕 On Litecoin, the commission is 0.001 - that's about $0.07

💰🧨 Due to the inflated exchange rate of 'ether' and 'bitcoin', I lost about $18. This is P2P, baby, a private 'exchanger' (90s associations...)

🚨 Other purchases I had some left in my wallet, thought I'd buy something else 🤓

• Apple, Google, AirBNB, Splice, Claude, Midjourney, Patreon… 💥 BUMMER, everywhere regular VISA / Mastercard cards, sometimes PayPal

🤷🏻‍♂️Bitcoin - freedom? No, it's a 💥Bummer 💀 While 'IT giants' only accept 'plastic', Freedom is a working VISA! And for everything else - Mastercard 😎 (not from a Russian bank)

P.S. The word 💥Bummer appeared in the text 7 times. Statistics 😁

Fri Aug-30-2024 15:59

Armen Nelson