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Any transaction requires a meeting of the minds, be it seashells, gold, pallets of cash on a C-130, or crypto.
by TEP_Kim_Il_Sung 4y ago
Any transaction requires a meeting of the minds, be it seashells, gold, pallets of cash on a C-130, or crypto.
- ericpauley 4y agoThe difference is that meeting minds with a publicly traded and regulated US company like Coinbase is (in theory) less risky than those.
- TEP_Kim_Il_Sung 4y agoTrading with my cousin is less risky than that, he's honourable, keeps his promises, and does not need to know your keys to trade. Also, his operation is not financed through extortion.
- timeon 4y agoIf you are going to trade just with your cousin then you do not even need currency at all. Just barter.
- TEP_Kim_Il_Sung 4y agoBarter is what all trade is. Some trade goods are just more versatile than others. We call those "money" (not to be confused with "currency", which is fiat).