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>By that logic they should ban gift cards and in-game currency too. ...those aren't money.
by BookmarkSaver 8y ago
>By that logic they should ban gift cards and in-game currency too.
...those aren't money.
- jonny_eh 8y agoNeither is crypto-currency. At this point, it's more like gold, which no one treats as "money".
- EpicEng 8y agoYet gold is a real thing which has real value and can be repossessed by creditors. Crypto is less like gold than futures trading.
- bduerst 8y agohttp://fortune.com/2017/10/02/bitcoin-sale-silk-road/ http://fortune.com/2017/10/02/bitcoin-sale-silk-road/
- deleted 8y ago[deleted]
- mygo 8y agoI have a hard time saying crypto isn’t real because if I say that then I’m also suggesting that information isn’t real.. But, to some mathematicians and philosophers, etc, everything that is real is information. And some information can become more valuable than others. So I’d say that crypto currency is real. The information just exists in a digital form, which in practice is represented by the particular arrangement of physical matter, whether that’s the arrangement of ink on paper or bumps on a disk. Last winter whoever held the information of 1BTC held the equivalent to 20,000 real tangible USD’s that they could take to the bank, exchange for food, etc. Today that same kind of information isn’t as valuable in the marketplace, but it’s still as “real” as anything once we get past the misconception that all things real must exist in one physical form. TLDR; Is it real? Absolutely. Is it valuable? Right now it is.
- root_axis 8y agoGold is "real" because the intrinsic qualities that underpin the value of gold are constant and inherent to its chemical composition. Conversely, the qualities that underpin the value of blockchain tokens are an emergent property of a complicated and expensive technical system that sits on top of an even more complex system (the internet) that is dependent on a functioning electrical grid (a brittle dependency in many places) all of which requires active maintenance at every level. If you lock a nugget of gold away for 5000 years in an unbreachable time capsule, it will still be a pliable and lustrous metal when you dig up, if you do the same thing with a wallet private key, you can't even be sure if the token's network exists much less all the infrastructure that it depends on to even exist.
- mygo 8y agoI think you're confusing whether or not something is 'real' with whether or not something will hold value in 5,000 years. If you're able to ascertain a wallet private key 5,000 years from now, it'll still be as 'real' as it is at this moment. Just maybe not as useful/functional or valuable. Well... unless in 5,000 years there is a crypto museum out there willing to pay significant sums for anyone who can produce a valid private key for an address that once had a transaction on the blockchain.
- derefr 8y agoCan you buy [bulk] gold with a credit card?