26 ms·

You can make money from stealing anything of value. What is strange about it?

gambiting 3y ago
Normally if you stole euros you wouldn't need to first sell them for dollars to get value out of them. Cryptocurrencies are not currencies, not any more than rare postage stamps are.
- lrvick 3y ago
  I buy things and send money with cryptocurrency often, and some of my clients pay me with it. Faster than bank transfers, and lower fees.
  - gambiting 3y ago
    How is it being one of like 12 people globally who actually do this?
    - lrvick 3y ago
      I know hundreds, so I assume there are thousands of us at least. Not to mention spikes in usage in several countries during times where inflation is wild enough to make bitcoin prices seem stable by comparison.
- phoe-krk 3y ago
  > Normally if you stole euros you wouldn't need to first sell them for dollars to get value out of them. I can't pay with dollars in most of the shops in Poland. According to your logic, a dollar isn't a currency, not any more than rare postage stamps are. Or, in other words - why and how do currency exchanges exist, then? They literally sell and buy different kinds of money.
  - gambiting 3y ago
    You can buy things with euros outside of Poland though, just because Poland doesn't use Euro as a currency doesn't mean it isn't one. Most cryptocurrencies aren't currencies in the sense that no one accepts them for anything other than regular currencies or other crypto. There are rare exceptions to this, but that's exactly what they are - exceptions. >why and how do currency exchanges exist, then I hope this isn't a real question.
    - phoe-krk 3y ago
      You can buy things with bitcoin outside of the Internet, too; just because USA doesn't use bitcoin as a currency doesn't mean it isn't one. By your logic, most existing currencies aren't currencies either, in the sense that no one accepts them for anything other than regular currencies or cryptocurrencies, and that also happens only when you're in a currency exchange. There are rare exceptions to this, but that's exactly what they are - exceptions. > I hope this isn't a real question. I hope it is.
      - gambiting 3y ago
        >>By your logic You keep saying this, but you keep replying to what you think my logic is rather than what I actually wrote, because I guess it's just easier to argue with.\ >>There are rare exceptions to this, but that's exactly what they are - exceptions. Yes, you're right - entire countries accepting a currency for trade and services is exactly the same as what is effectively small handful of traders accepting crypto. 300 million people using euro every day is no different than maybe few hundred companies accepting bitcoin - both are exceptions.
- LudwigNagasena 3y ago
  Not really sure what point you are trying to argue. I think I’m missing the crucial importance of the implied consequence of “cryptocurrencies are/aren’t currencies therefore…” I don’t see any importance of that label beyond arbitrary tax implications. So to me that question seems as important as “Is hot dog a sandwich?”
- misnome 3y ago
  You kind of would? For any non-minor amount you’d surely have to find some way to launder them, which almost certainly would’t give you a 1:1 return. Doesn’t make **coins currencies though.
- numpad0 3y ago
  Agreed in principle, but I'm guessing one could argue that stolen money has to be laundered before being used.

Normally if you stole euros you wouldn't need to first sell them for dollars to get value out of them. Cryptocurrencies are not currencies, not any more than rare postage stamps are.

lrvick 3y ago
I buy things and send money with cryptocurrency often, and some of my clients pay me with it. Faster than bank transfers, and lower fees.
- gambiting 3y ago
  How is it being one of like 12 people globally who actually do this?
  - lrvick 3y ago
    I know hundreds, so I assume there are thousands of us at least. Not to mention spikes in usage in several countries during times where inflation is wild enough to make bitcoin prices seem stable by comparison.
phoe-krk 3y ago
> Normally if you stole euros you wouldn't need to first sell them for dollars to get value out of them. I can't pay with dollars in most of the shops in Poland. According to your logic, a dollar isn't a currency, not any more than rare postage stamps are. Or, in other words - why and how do currency exchanges exist, then? They literally sell and buy different kinds of money.
- gambiting 3y ago
  You can buy things with euros outside of Poland though, just because Poland doesn't use Euro as a currency doesn't mean it isn't one. Most cryptocurrencies aren't currencies in the sense that no one accepts them for anything other than regular currencies or other crypto. There are rare exceptions to this, but that's exactly what they are - exceptions. >why and how do currency exchanges exist, then I hope this isn't a real question.
  - phoe-krk 3y ago
    You can buy things with bitcoin outside of the Internet, too; just because USA doesn't use bitcoin as a currency doesn't mean it isn't one. By your logic, most existing currencies aren't currencies either, in the sense that no one accepts them for anything other than regular currencies or cryptocurrencies, and that also happens only when you're in a currency exchange. There are rare exceptions to this, but that's exactly what they are - exceptions. > I hope this isn't a real question. I hope it is.
    - gambiting 3y ago
      >>By your logic You keep saying this, but you keep replying to what you think my logic is rather than what I actually wrote, because I guess it's just easier to argue with.\ >>There are rare exceptions to this, but that's exactly what they are - exceptions. Yes, you're right - entire countries accepting a currency for trade and services is exactly the same as what is effectively small handful of traders accepting crypto. 300 million people using euro every day is no different than maybe few hundred companies accepting bitcoin - both are exceptions.
LudwigNagasena 3y ago
Not really sure what point you are trying to argue. I think I’m missing the crucial importance of the implied consequence of “cryptocurrencies are/aren’t currencies therefore…” I don’t see any importance of that label beyond arbitrary tax implications. So to me that question seems as important as “Is hot dog a sandwich?”
misnome 3y ago
You kind of would? For any non-minor amount you’d surely have to find some way to launder them, which almost certainly would’t give you a 1:1 return. Doesn’t make **coins currencies though.
numpad0 3y ago
Agreed in principle, but I'm guessing one could argue that stolen money has to be laundered before being used.