Comment on Opinion | Don’t Get Fooled Again by Crypto

• maxprime@lemmy.ml ⁨5⁩ ⁨weeks⁩ ago

  What about cash?

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  • sonori@beehaw.org ⁨5⁩ ⁨weeks⁩ ago

    I’ve rarely heard it suggested as an investment, but it can actually be realisticly used to goods and services outside of itself and as such does have an actual purpose, which is more than can be said for any crypto currency.

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    • LobYonder@monero.town ⁨5⁩ ⁨weeks⁩ ago

      There are several cryptocurrencies which are regularly used for purchases. Just because BTC and meme-coins get the media coverage and speculation doesn’t stop others being used for transactions.

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    • jarfil@beehaw.org ⁨5⁩ ⁨weeks⁩ ago

      Cash is inflationary, “by definition” as per current monetary theories, meaning it is designed to lose value over time. Not much of an investment.

      Also, I can’t use USD, GBP or AUD for “goods and services outside of itself”… unless I exchange them for EUR first, same as any Crypto.

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      • sonori@beehaw.org ⁨5⁩ ⁨weeks⁩ ago

        That every currency is not accepted everywhere in the world, though every one you listed is pretty commonly accepted by business and as such you absolutely could by things with them in the Eurozone, is not an argument that they are the same as an casino token.

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  • BakerBagel@midwest.social ⁨5⁩ ⁨weeks⁩ ago

    I can use cash to pay my taxes. I cant pay my taxes with cryptocurrency.

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    • maxprime@lemmy.ml ⁨5⁩ ⁨weeks⁩ ago

      Sure but you can liquidate cryptocurrency to pay your taxes using fiat.

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