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>Because you have to convert the crypto into fiat to procure goods and services You do? What is the purpose of cryptocurrency if you are just going to convert
by cowtools 4y ago
>Because you have to convert the crypto into fiat to procure goods and services
You do? What is the purpose of cryptocurrency if you are just going to convert back into cash the moment you use it? I think the end goal for cryptocurrency is to create a circular, P2P economy[0][1]
Seems pretty difficult to regulate only some cryptocurrencies if it's already possible to anonymously and trustlessly swap between them[2]
[0] https://monerica.com/ https://monerica.com/
[1] https://localmonero.co/ https://localmonero.co/
[2] https://unstoppableswap.net/ https://unstoppableswap.net/
- malka 4y agoAt some point, you ll need to pay taxes. in the money of choice of your current governing body.
- nradov 4y agoRight, that's the point. Unless you're stuck in some shithole country like El Salvador, there's no purpose to cryptocurrency.
- e63f67dd-065b 4y agoEasy: if congress bans all crypto tomorrow, you can trivially check which websites accept crypto, and then send them a letter to not do that. If they don’t comply, you tell the registrar/host/ISP to shut them down, then they don’t have a website anymore. The point is that at some point real people, subject to laws and regulations, will have to touch the thing you’re buying. If you’re buying a sandwich, it doesn’t matter the guy making the sandwich accepts crypto if the government can put them in jail for doing so.