Monero, a privacy-enabled offspring of the same technology that powers the Bitcoin payment protocol, can now be used to purchase gaming merchandise on Fortnite. The online video game, first released in 2017, is a cooperative shooter-survival competition which has drawn in more than 125 million users across the world. According to Holiday 2018 consumer reports, youngsters were keen on using a cryptocurrency as a payment option – instead of cash – on Fortnite merchandise store.
“Today we have strayed from the path of righteousness,” a Redditor . “But seriously, that’s some pretty awesome adoption. Even if no one uses it, it’s a fantastic exposure of millions of people who might ask “What’s that groovy M? And why is it better than regular payment?”.Within a couple years, the average 16 yr old Xbox player will understand more about crypto than the average Wall St. banker. — Erik Voorhees (@ErikVoorhees)The discussion has spread to a point where teenagers are reportedly finding banks too slow to catch up to their space. They are not ready to wait in queues to set up their bank accounts or wait for their payment requests to get approved in 3-5 “working” days. Cryptocurrencies attract them for being more independent and faster than any traditional financial regime.
Outside the world of young, however, crypto continues to feel the heat from its older and more matured critics. American-Iranian economist Nouriel Roubini called bitcoin a “mother of all scams” before the US Congress. Warren Buffet, an investment kingpin, said that bitcoin lacks intrinsic value, adding that probably it is “rat poison squared.” Legendary investor Gary Shilling called the cryptocurrency a “Ponzi scheme.”
The anti-crypto opinions mostly include criticism about crypto’s excited use-case in the new financial world. They believe that the whole sector, barring centralized digital currencies, is destined to go down as the most significant financial scam the world has seen ever.If the next generation of school children grow up to understand the separation of money and state, then bitcoin will have succeeded. — Erik Voorhees (@ErikVoorhees)