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Crypto is neither good nor bad. Convincing unsophisticated people to take money that has empirical value in the current economy and invest that in a token that
by anon291 4y ago
Crypto is neither good nor bad. Convincing unsophisticated people to take money that has empirical value in the current economy and invest that in a token that means absolutely nothing and entitles you to no money that means anything useful or has any empirical value.... that is perhaps not criminal, but very anti-social behavior.
If there were a real government demanding payment of taxes in bitcoin, then it would have value. Until then, it does not. El Salvador does not count because El Salvador is inconsequential, and either way they have no army. Also, it's obviously a political stunt by their young and hip president.
- datadata 4y agoThere are literally hundreds of currencies that were demanded for tax payments that have ended up with zero value eventually. That is not sufficient to make a valuable currency. What is necessary (in my opinion) is using the currency broadly for payments (not only taxes), and having a monetary policy that does not use excessive debt or inflation.
- anon291 4y agoIt is not a sufficient condition. It is a necessary one.