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That’s the entry point from whence you divine that ‘crypto’ has failed at becoming a payment system (as it was originally envisioned to be) and has instead beco
by qubex 6y ago
That’s the entry point from whence you divine that ‘crypto’ has failed at becoming a payment system (as it was originally envisioned to be) and has instead become a mere asset class for speculation.
- deleted 6y ago[deleted]
- woah 6y agoHuh? How would any envisioned use of Bitcoin work without the ability to trade it for dollars?
- qubex 6y agoThe cop-out snide answer is “anybody who lives outside the US and doesn’t use dollars as their main currency”. The answer that actually addresses the central question, however, would follow the lines of “if a scrip does not have institutions that use it natively across the board to address all functions of a currency, but rather depends on gateway institutions, then it isn’t a currency”. (A ‘scrip’ is a kind of quasi-money token system such as “Disney Dollars” at Disney’s amusement parks, vouchers used in company towns, and so forth.)