An Example of the Day to Day Usefulness of Cryptocurrency

in #life5 years ago

Hello to the Steemiverse! 

Apologies for my absence as of late. I have been keeping busy though!

I just thought I would share a story about a situation that I witnessed a few weeks ago. But first, let me give you a little background info.

My Recent Career Shift

About three months ago I quit my job cooking at a Pancake House and decided to jump on board with my friends' start up company. My two good friends (who are brothers), started their own construction company doing roofing and remodeling. I have never worked in the construction industry and so it has been one hell of a learning experience. I have had a blast though, and all the skills I am acquiring are skills that I have always wanted to obtain.  

It has been quite fascinating, seeing everything it takes to build the business from the ground up. I have been right there for all of it and even found them a utility trailer to buy. It is quite refreshing to have the owners be so open about the situations the business is in. 

Finding the Right Equipment

In order to pull the utility trailer that I mentioned, the older of the two brothers bought a half ton pickup truck as his work truck. It is a nice truck and does everything we need it to do. However, after doing some re-roofing, it became apparent that we were going to need another trailer. A dump trailer. After some searching, they found a good deal on one and decided to buy it. The only problem was that half ton pickup was not going to be able to pull the loaded dump trailer.

That's when the other brother decided it was time for a new rig. 

It was agreed that a three quarter ton suburban would be a good fit. Plenty of power, shouldn't have a problem hauling the trailer and is a good, safe family vehicle. After a few days of scouring Craigslist, he found the perfect match. This beast right here was the one:


Now the only problem was funding. Not really in a position to fork out the needed money to purchase the vehicle. So he decided ask his other brother for a loan.  

This Was When Cryptocurrency Could Have Been Extremely Useful.

The brother agreed to loan the needed amount to purchase the suburban. What made it difficult was the fact that the brother was in another state and both of them use the traditional banking system. They are both aware of cryptocurrency, but are not very familiar with it and do not use it. So in order to transfer the money, the brother first went to his bank where they told him they cannot wire the money to his brother's account. If he finds an account they can wire to, there was a limit of 2500$ and will take multiple days to go through. This made them both frustrated because they needed to buy the vehicle the next day and it cost 3500$. So they thought they would have to do two separate wirings that would take almost a week to go through. Not exactly feasible. 

I witnessed a lot of frustration with this situation. They decided to try wiring it through Wal-Mart, which worked, but the brother's wife had to go pick up the cash while we were working. It took a lot of time and stress just to figure out how they were going to send the money. 

In the middle of them trying to figure it out I laughed and said, "If you guys just used Bitcoin, you wouldn't be having any of these problems".

The only reason I said Bitcoin is because it is the most well known. The reality is, at the current moment, Bitcoin would not be the best crypto to use considering its high network fees and slow confirmation times. Any number of other cryptos would be great to use in those situations, due to their peer to peer nature. You don't need permission from any government or bank. There is practically no limit on how much you can send, and if you use the right crypto, it can be very cheap! Crypto would have made that whole situation much, much easier.

I just thought this was a prudent example of why cryptocurrencies are the way of the future.

Thanks for reading! 

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Steem on friends!

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