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I just don't understand this. A national currency is an irredeemable medium of exchange, made valuable because it's -- by law -- exempt from capital gains tax
by runeks 9y ago
I just don't understand this.
A national currency is an irredeemable medium of exchange, made valuable because it's -- by law -- exempt from capital gains tax (it measures capital gain), and because it's been given legal tender status.
Why would anyone trade an irredeemable currency issued by a private corporation? "Currency" is surely a misnomer, because no one would want to buy or sell goods and services in exchange for it, which makes it more like irredeemable equity, which makes no sense either.
- ShabbosGoy 9y agoWhy do you buy tokens at the arcade?
- runeks 9y agoBecause I can use them to buy something in the arcade, at a price I can check for reasonability beforehand. What can I buy using the Basic Attention Token? And at what price?
- ericflo 9y agoAdvertisers will buy ads with it. Publishers will collect most of that spend. Users will get some too. The value will fluctuate but all currency does that.
- moe 9y agoExcept for a small problem: None of that will happen. Nobody will switch from Chrome, Safari or Firefox to the "Brave Browser" in order to have ads injected into their browsing session. The concept is so fundamentally ridiculous that I can't even muster pity for the people who sunk their money into this scam.
- ericflo 9y agoI use Brave, and there's about a half million other people who are using it too. What I guess you really mean is not that "nobody" will switch, but that "everyone" won't. So it's just a matter of market size, which I agree - we'll see.
- JumpCrisscross 9y agoOut of curiosity, why did you start using the Brave browser?
- ericflo 9y agoMostly because I wanted to get the (faster browsing) benefits of ad blocking, without feeling like I'm stealing from the sites I visit.
- sanswork 9y agoWhere do you get the half a million number from? Is that people that use it or downloads?
- rdlecler1 9y agoWhich makes it sort of like an equity offering in a startup. Equity isn't typically redeemable.