If we get a “stable coin” that requires low power draw

I don't know about power draw, but Monero is relatively stable ($120-$170 over the last 2 years; avg $157, and generally stays between $140-160) and is unprofitable to mine, so you only get enthusiasts who really like the coin doing it. I think, on net, it uses significantly less than Bitcoin, just because blocksizes are variable size and there are no mining farms (less competition should mean less waste), but that's incredibly hard to measure or even estimate, and we'd need to take transaction costs into account as well (e.g. I'd be willing to spend more electricity if it meant less money going to bank profits). We could compare Reddit to Lemmy as a similar example, Reddit will be cheaper to operate per user (less duplication), but Lemmy is community driven and has no incentive to screw over users.

Ethereum uses proof-of-stake, so it has much lower power draw than pretty much anything else, but there's still a ton of speculation that causes prices to change dramatically ($1100-3800 over the past 2 years). Eth has a higher transaction fee than Monero by a pretty large factor, so it's not great as a currency either. But maybe it'll encourage more coins to switch to proof-of-stake and drop energy use by the cryptocurrency market substantially.

People get their wallet stolen in real life, getting your digital wallet stolen is something that can totally happen too. There’s no FDIC on your bitcoin, a bitcoin wallet isn’t a bank.

There's also no FDIC protection on cash. You should, IMO, be treating cryptocurrencies more like a pile of cash than a bank (though it's more secure than cash). You don't need FDIC protection on your spending money, but you should have it on your savings. My investments are at investment brokerages w/ SIPC protection, my emergency fund is at a bank, and my spending money could totally be in crypto, if I had more places to spend it.

Crypto fans love to talk up crypto coins

There are two main types of crypto fans:

• crypto scammers - pump and dump, jump from coin to coin, etc; their goal is to make money
• crypto enthusiasts - just want to use them to buy stuff

The first are very vocal and should be avoided at all costs, while the second just don't want anyone (banks, governments, etc) to be able to snoop on their transactions. I'm the second, and I honestly don't currently own any cryptocurrencies, but I'm interested in Monero to replace credit cards in online purchases (I have a wallet set up, still haven't gotten to funding it).

The things I’ve seen about bitcoin at scale have also suggested it could never even come close to the transaction speed of VISA.

Well, the Bitcoin lightning network dramatically improves that and is competitive with VISA and other credit card networks. I don't know the specific numbers, but initial verification of funds (basically what happens when you buy something w/ your credit card) happens almost instantly (seconds), but "settling" takes a bit longer (minutes to days), much like with credit card companies (i.e. "pending" transactions).

Monero is similar. Broadcasting the payment request takes about a second, and settling the transaction takes a few minutes. So for small purchases like a coffee, you probably wouldn't wait for settlement, but you would for larger transactions (e.g. buying a car) because there's technically a risk of double-spending within that block verification time.

Since vendors wouldn't need to pay transaction fees for VISA, Mastercard, etc, I think they'd be willing to occasionally eat the cost of someone scamming them with a double-spend (pretty high effort for the scammer, esp. in person).

So cryptocurrency is ready today to replace credit card networks. You can use Bitcoin Lightning or Monero today and get near-instant verification of funds and reasonable settlement times (usually minutes, maybe hours). The main issue is vendors accepting it as payment.

I don’t think bitcoin ever has soared because of its merits

Agreed. I strongly discourage anyone from buying BTC as an investment. I don't regret not buying BTC when I first noticed it, because if I made a good return, I'd think I know something about it and end up gambling it all away on crypto trades (also why I don't buy individual stocks anymore). I have never and probably will never see cryptocurrency as an investment product, because I don't see any reason for it to increase or decrease in value aside from speculation, whereas I do think things like stocks have understandable and predictable behaviors (on longer time scales, not short-term).

So I don't buy any cryptocurrencies as investments, I'm purely interested in using them for transactions. I'd love to just use cash, but that doesn't work online and is a pain in real life, so I'm hoping cryptocurrencies like Bitcoin or Monero become mainstream enough that I can do that. Given how many breaches there have been, I just don't trust debit cards, since banks can put checking/savings on hold much longer than credit card companies do (banks make money by holding money, credit cards make money by you spending money).

So I'm sold on the general idea, I'm just limited by places to spend it. That's why I encourage people to use it, so demand goes up and more stores start accepting it.