4 ms·

cryptocurrency is not intended for making purchases?

• wmf 5y ago
  Cryptocurrency is not currency (unit of account); we just call it that for historical reasons. It's not usable for purchases and the intent is irrelevant.
  • Bellyache5 5y ago
    So what is it then?
    • yazaddaruvala 5y ago
      Disclaimer: This is just my interpretation of “unit of account”. This is not me agreeing with it or advocating for it. When people say “unit of account” basically what they are saying is: Cryptocurrency is an Open Source rewrite of the banking systems that currently run on Cobal. “Banks, please start using them as your database and reconciliation layer instead of your legacy software.” Meanwhile, users continue to use credit / debit cards as they do now, and they continue to see some number on their bank accounts going up and down regardless of where the “money” actually is. Which is the same as today. That’s why we see “Pending” across so many of our transactions.
    • deleted 5y ago
      [deleted]