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You need fiat banking to cash in and cash out. You are at the mercy of the fiat banking stakeholders. You can create any crypto currency but if nobody can buy
by pwaai 8y ago
You need fiat banking to cash in and cash out. You are at the mercy of the fiat banking stakeholders.
You can create any crypto currency but if nobody can buy it with cash or sell it for cash, it's worthless.
SEC has already announced they are looking at Ethereum as security, insiders have already sold according to rumours, because they are being targeted by the SEC-
Turns out if you sell tokens with expectation of investment returns, you've entered the danger zone unwittingly.
According to my sources, the SEC has Vitalik in crosshairs. He's fucked...but he doesn't know it yet
- gomox 8y agoI didn't make it explicit in my previous comment but in Argentina you don't need to use a bank to get your hands on physical cash for your cryptocurrencies, in the same way you don't need to go to a bank to buy US dollars with Argentinean pesos.
- AlexCoventry 8y ago> SEC has already announced they are looking at Ethereum as security, Got a cite?
- drexlspivey 8y agoYes I don’t think that’s accurate. The SEC chairman in a cnbc interview the other day said that bitcoin will count as a currency while ICO tokens as assets. When asked explicitly about ethereum he said roughly that they haven’t decided yet.
- erikpukinskis 8y agoYou don’t need fiat, you can sell your startup shares for AAA bonds, both denominated in ETH. Treat the bonds like a checking account. Technically you could buy coffee with a fractional share of a goat or similar. Once a critical mass of securities are tokenized, we enter essentially the “Infinite Currencies” phase of money where there’s no difference between assets and currencies in terms of ease of spending.