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Dollars are inflationary and therefore primarily currency, not assets. They're also far more useful, so people are likely to only pay the massive crypto tax (ex
by smt88 6y ago
Dollars are inflationary and therefore primarily currency, not assets. They're also far more useful, so people are likely to only pay the massive crypto tax (exchange fee, loss of liquidity) if they need to be outside of a legal system.
Also, is it "in extremis"? It seems like the vast majority of transactions of crypto are for ransomware, contraband (guns, drugs, humans), or exchange between speculators.
- Chris2048 6y ago> the vast majority of transactions Are transactions relevant though? A lot of BTC is just being held, presumably for the sake of future popularity. You could see BTC investment as a bet on the future of BTC as a normal/common currency.
- smt88 6y ago> You could see BTC investment as a bet on the future of BTC as a normal/common currency. Yes, I totally agree. The question is: what has to happen before it's a common currency? See my other comment for my thoughts on this: https://news.ycombinator.com/item?id=27104956 https://news.ycombinator.com/item?id=27104956