undefined | Better HN

0 pointsnyolfen3y ago0 comments

i run a small retail shop that sells digital goods for btc. i bought a book with btc two months ago. more convincingly, it's widely used for remittances and as a store of value in countries with debased currencies -- this is a powerful tool for ordinary citizens in countries like venezuela, argentina etc to discipline central banks who would otherwise steal their savings.

0 comments

mrguyorama3y ago

In japan, there exist a bunch of businesses that buy your pachinko prizes and give you cash. It's a standard thing that happens pretty much anywhere with pachinko machines.

Yet it would be absurd to call those toys "A currency". A currency requires more usage than occasional barter.

nyolfenOP3y ago

what threshold would you find convincing? it performs all conventionally defined functions of money, it is legally recognized as money in some jurisdictions, it is useful as a store of value and medium of exchange. japanese yen might as well be 'toy' to me since i can't pay taxes with it. at this point i feel like i'm arguing about the utility of automobiles with an equestrian in 1920.

j / k navigate · click thread line to collapse

0 comments

mrguyorama3y ago

In japan, there exist a bunch of businesses that buy your pachinko prizes and give you cash. It's a standard thing that happens pretty much anywhere with pachinko machines.

Yet it would be absurd to call those toys "A currency". A currency requires more usage than occasional barter.

nyolfenOP3y ago

j / k navigate · click thread line to collapse