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> The small value cryptocurrencies provide over other digital transaction methods I’m not aware of any other digital transaction methods that can send un-print

by yunesj 6y ago

> The small value cryptocurrencies provide over other digital transaction methods I’m not aware of any other digital transaction methods that can send un-printable money besides cryptos. I think devaluing currency to inflate stocks and fund wars is harmful, and cryptos are a valuable solution. Although, I think there’s better than PoW.

AlexandrB 6y ago
These are political problems. If you think that an additional form of currency will solve them, I have a bridge to sell you. Even if you convince the US government to switch to BTC (this is probably a harder political project than defunding the defence department), I'm sure they'll think of something if they need to fund a war or two. BTC would be a mere speed bump.
- yunesj 6y ago
  Yes, the US can still raise funds other ways. It would still be preferable if they were more transparent about it. > Even if you convince the US government to switch to BTC There's no need for that. It would be enough for some people to switch to BTC. I.e., not store their money or denominate their salaries in USD. As things stand, most wealthy people already store their money in things other than USD that are somewhat less easy to manipulate, like stocks and commodities. It would be nice if this strategy were more accessible to people worldwide.
arcticbull 6y ago
> I’m not aware of any other digital transaction methods that can send un-printable money besides cryptos. That's because it's not a useful feature heh. Money is meant to be a medium of exchange and temporary store of value. To the extent it holds its value for the duration of your ownership of it, it's met its goal.
- yunesj 6y ago
  Sure, it's a fair argument that gold + paypal may be superior to bitcoin.
  - arcticbull 6y ago
    You can simplify this even more. Open an InteractiveBrokers margin account and request a debit card. Fund the account, purchase gold (futures, GLD, whatever) and spend on your IBKR debit card. This will pull from your margin. Your margin interest is ~1% and tax deductible. Settle up your account as you see fit.
    - yunesj 6y ago
      I use IBKR margin, but didn't realize it was tax deductible!? Thanks for the tip!
      - arcticbull 6y ago
        Yes, you can use it to offset capital gains. Also, depending on your largesse, consider tax-aware borrowing. [1] [1] https://csq.com/2018/04/geoffrey-berlin-private-wealth-tax-awareness/ https://csq.com/2018/04/geoffrey-berlin-private-wealth-tax-a...

by yunesj 6y ago

AlexandrB 6y ago

These are political problems. If you think that an additional form of currency will solve them, I have a bridge to sell you. Even if you convince the US government to switch to BTC (this is probably a harder political project than defunding the defence department), I'm sure they'll think of something if they need to fund a war or two. BTC would be a mere speed bump.

yunesj 6y ago
Yes, the US can still raise funds other ways. It would still be preferable if they were more transparent about it. > Even if you convince the US government to switch to BTC There's no need for that. It would be enough for some people to switch to BTC. I.e., not store their money or denominate their salaries in USD. As things stand, most wealthy people already store their money in things other than USD that are somewhat less easy to manipulate, like stocks and commodities. It would be nice if this strategy were more accessible to people worldwide.

arcticbull 6y ago

> I’m not aware of any other digital transaction methods that can send un-printable money besides cryptos. That's because it's not a useful feature heh. Money is meant to be a medium of exchange and temporary store of value. To the extent it holds its value for the duration of your ownership of it, it's met its goal.

yunesj 6y ago
Sure, it's a fair argument that gold + paypal may be superior to bitcoin.
- arcticbull 6y ago
  You can simplify this even more. Open an InteractiveBrokers margin account and request a debit card. Fund the account, purchase gold (futures, GLD, whatever) and spend on your IBKR debit card. This will pull from your margin. Your margin interest is ~1% and tax deductible. Settle up your account as you see fit.
  - yunesj 6y ago
    I use IBKR margin, but didn't realize it was tax deductible!? Thanks for the tip!
    - arcticbull 6y ago
      Yes, you can use it to offset capital gains. Also, depending on your largesse, consider tax-aware borrowing. [1] [1] https://csq.com/2018/04/geoffrey-berlin-private-wealth-tax-awareness/ https://csq.com/2018/04/geoffrey-berlin-private-wealth-tax-a...