Readit NewsMaybe it’s not like that in the US, but the only useful thing I can spend crypto on as a Scandinavian is paying for my domains.
"Bitcoin for coffee" and the like is a waste of the tech, imo. Buying network services such as you described is a better use as intercountry payments with debit cards isn't always feasible.
Bitcoin's use is better as a transnational currency when traditional payment channels are cumbersome. To be frank, Bitcoin still has some work to do in the payment channel dept but Lightning Network is getting there.
In the US, there are more than a few places where you can trade out btc for gold/silver and sell the metal for fiat. It's preferable to selling on an exchange, imo.
If you can't spend now, hang onto your btc until you can. Saving is always a good idea.
When I first ran across Bitcoin in 2010, I thought it was a scam but was intrigued by the tech. After studying it for about a month, I realised it wasn't a scam (though scamsters abound in cryptocurrencies, as in all things money) and went around to my friends in the tech community in my city to show it to them. They know me to be literate in networks and cryptography but only one person in the ten or twelve I approached was equally interested. The rest poopooed Bitcoin, some outright laughing me out of their offices.
Institutional thinking is what kept a lot of smart people from even looking at Bitcoin early on. The findings in this study shouldn't be surprising. In five years, should the internet still be functioning, Bitcoin will be more spread out than it is now.
Any coin on exchanges does not belong to you. Only coin in which you and you alone hold the keys, is yours.
There are lots of paper wallet generators but it seemed like an exercise in frustration to actually use the private key on the page to spend the money.
I generate keypairs using the reference client on an offline device that never touches a network.
Private keys can be imported and spent using almost any wallet: Coinomi, Mycelium, the reference client, etc.
I hope Coinbase gives you your btc when the run starts next year or two.
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