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0 pointsmikeyouse3y ago0 comments

Nah. With ‘real’ currencies, goods and services are available in that currency. I can happily go about my business and transaction entirely in euros if I’m in the EU.

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davidguetta3y ago

So what about gold ? I'm waiting for your vlog where you go buy a starbuck with a pound of physical gold and they give you change.

The point is that when there's liquidity smoewhere (on an exchange), any security have "de facto" act as a "money", or at least a "saving account", because there's always at all an actual value defined by the market. whether it's stock, crypto etc... It doesn't have in practive to be tied to a central bank / governement. Even historically, currencies have existed well before someone tried to regulate them

aaaaaaaaata3y ago

This again?

Did you miss the last 47 threads where people discussed the real world goods and services they purchase with cryptocurrency?

mikeyouseOP3y ago

"Entirely" is the keyword.. there are certainly a lot of things you can buy with crypto, but at some point you need to convert it to a 'real' currency to pay for food or gas or server costs or whatever. And if you find a service that lets you buy food with crypto, eventually they will need to pay their suppliers with 'real' money. Everyone needs to keep track of the btc/USD (or whatever coin) exchange rate to ensure there are enough 'real' dollars or euros or whatever at the end of the day. It's a super hard thing to bootstrap a currency, much easier with the force of the state, I doubt there will ever be a truly competitive crypto.

kayamon3y ago

> but at some point you need to convert it to a 'real' currency to pay for food or gas or server costs or whatever.

No you don't.

> And if you find a service that lets you buy food with crypto, eventually they will need to pay their suppliers with 'real' money.

No they don't.

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