3 ms·

Other industries are not competing with the central banking system. It's not the first time new currencies were made illegal, actually it is expected.

danuker 4y ago
Well then, is the Governor acting on behalf of the Federal Reserve? Why is this reason not mentioned, and instead, environmental issues are raised?
eloff 4y ago
Cryptocurrency isn't very useful as a currency, so it doesn't compete with fiat currencies. You can't use it to buy things, apart from illegal things. The exceptions are fringe uses only.
- xiphias2 4y ago
  This is a plain lie. I'm buying most of my things with Bitcoin (using the lightning network). I'm offended by people saying that I use it for illegal things, just how I don't suppose a person is a drug dealer just because there's trace cocaine on the money he or she uses.
  - eloff 4y ago
    Do tell how you pay in a store or restaurant with Bitcoin. Are you just a weirdo who doesn't leave your mom's basement?
    - xiphias2 4y ago
      As a digital nomad most of my travels (the expensive part of life) are with travala.com and cheapair.com (lightning works well with travala, but at least cheapair generally accepts 0-conf, although I wish they would accept lightning payments as well). Also I use Binance debit card for payments, they autoconvert to the currency that the country needs. Of course I use fiat currency accounts as well, I didn't say that, what I wrote is by Bitcoin payments are not illegal.
      - eloff 4y ago
        I've never heard of a binance debit card before, that's very interesting. Don't you feel like you're getting screwed by the conversion lately? Bitcoin is so volatile to use as a currency.
        xiphias2 4y ago
        Not really, I bought it a long time ago (2013) and I understand that volatility is the price I pay in my life for having a currency that's super hard to print more of. Right now I'm on a smaller budget than before, it's no problem for me.

danuker 4y ago

Well then, is the Governor acting on behalf of the Federal Reserve? Why is this reason not mentioned, and instead, environmental issues are raised?

eloff 4y ago

Cryptocurrency isn't very useful as a currency, so it doesn't compete with fiat currencies. You can't use it to buy things, apart from illegal things. The exceptions are fringe uses only.

xiphias2 4y ago
This is a plain lie. I'm buying most of my things with Bitcoin (using the lightning network). I'm offended by people saying that I use it for illegal things, just how I don't suppose a person is a drug dealer just because there's trace cocaine on the money he or she uses.
- eloff 4y ago
  Do tell how you pay in a store or restaurant with Bitcoin. Are you just a weirdo who doesn't leave your mom's basement?
  - xiphias2 4y ago
    As a digital nomad most of my travels (the expensive part of life) are with travala.com and cheapair.com (lightning works well with travala, but at least cheapair generally accepts 0-conf, although I wish they would accept lightning payments as well). Also I use Binance debit card for payments, they autoconvert to the currency that the country needs. Of course I use fiat currency accounts as well, I didn't say that, what I wrote is by Bitcoin payments are not illegal.
    - eloff 4y ago
      I've never heard of a binance debit card before, that's very interesting. Don't you feel like you're getting screwed by the conversion lately? Bitcoin is so volatile to use as a currency.
      - xiphias2 4y ago
        Not really, I bought it a long time ago (2013) and I understand that volatility is the price I pay in my life for having a currency that's super hard to print more of. Right now I'm on a smaller budget than before, it's no problem for me.