234
Is Crypto Finally Dead?
(beehaw.org)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 19 Jun 2023
234 points (100.0% liked)
Technology
37750 readers
395 users here now
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
I'm glad I never got into cryptocurrency. For all intents & purposes, it might as well be Monopoly money.
I'm not a big fan of crypto for a number of reasons but that "for all intents and purposes" bit applies to all fiat cash.
Cash is monopoly money, with the key distinction of being backed by a government.
That's not entirely true. The US dollar is backed up by it being mandated as (I believe the only) acceptable payment for US taxes. So long as the US government exists, US currency will have value to anyone who has to pay those taxes.
I specifically said cash, maybe people use it differently but cash to me means paper money. I haven't paid for anything with US paper bills in possibly a decade. All my money is just numbers on a screen. I'd wager a lot of people are similar, especially when it comes to taxes. Are you actually paying taxes or receiving refunds in cash?
I am confused that you think cash is fiat, but a checking account also denominated in dollars isn't? Or else your responses seem to be a nonsequitur.
I am constantly surprised where the need for cash pops up. The local ice-cream stand. Any used purchase from another individual found on Craigslist or Facebook Marketplace. Even just reimbursement for family and friends you don't want to set up accounts for.
It makes me made anytime someone comes to me acting like physical cash is somehow the best. "I have cash on hand, give me a removed". Like, no buddy, that cash is an actual detriment to my life. I have an online bank. You know how tedious it is to have to go deposit that cash with a normal bank, I have to figure some special magic ritual to get mine in there. I should charge you an extra fee in fact! No soup for you!
Monero has real world use