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Cryptocurrency

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    Originally posted by FrontEnder View Post
    Other things you can't pay taxes with:

    -Gold
    -Cars
    -Stocks
    -food
    etc
    All of the above ain't money.
    All of the above still have inherent values: especially Gold.

    What's the inherent value of "crypto-currency"? None.

    Comment


      Anything that has confidence as a medium of exchange or a store of value is considered money.

      Tulips, nuts, salt, sugar, gold.

      History tells us this.
      Polishing a turd near you!!

      Comment


        Originally posted by scooterscot View Post
        Crypto bubble has been growing out of control for the past 8 weeks. From $30 billion to $116 billion in 8 weeks is insane. The ETH flash crash was the pin that pricked the bubble IMO.

        Wait for it to return to the mean ~$60-$70 billon and buy in again. Crypto has now too much attention now to disappear into nothing.
        Just after I bought a few weeks ago :-(
        Rhyddid i lofnod psychocandy!!!!

        Comment


          Originally posted by vadhert View Post
          Anything that has confidence as a medium of exchange or a store of value is considered money.
          Storing value (especially in a depreciating asset) isn't money.

          Crypto-tulip got NO inherent value whatsoever.

          HTH

          Comment


            Originally posted by AtW View Post
            All of the above ain't money.
            All of the above still have inherent values: especially Gold.

            What's the inherent value of "crypto-currency"? None.
            You said "You can't pay taxes with it - so no inherent value whatsoever". Paying taxes isn't the measure of if something has value.

            Money itself doesn't have any inherent value. It's simply medium of exchange.

            Comment


              Originally posted by AtW View Post
              Storing value (especially in a depreciating asset) isn't money.

              Crypto-tulip got NO inherent value whatsoever.

              HTH
              The USB pen drive you keep it on might be worth a £1?

              Comment


                Originally posted by AtW View Post
                Storing value (especially in a depreciating asset) isn't money.

                Crypto-tulip got NO inherent value whatsoever.

                HTH

                So do you call GBP/USD/EUR money then? Explain how inflation falls into your philosophy?
                Polishing a turd near you!!

                Comment


                  Originally posted by FrontEnder View Post
                  You said "You can't pay taxes with it - so no inherent value whatsoever".
                  No inherent value for something that calls itself "money" but you can't pay taxes with it.

                  Comment


                    Originally posted by vadhert View Post
                    So do you call GBP/USD/EUR money then? Explain how inflation falls into your philosophy?
                    GBP/USD/EUR are money because you can pay your taxes with them.

                    GBP/USD/EUR are very important money (unlike many others) because one can pay taxes in MAJOR economies.

                    Inflation is good because it forces people to spend money, which is where taxes kick in.

                    "crypto-currencies" have deflation built-in - that forces people to hoard "coins", very bad for economy, if they ever were to graduate there.

                    Comment


                      Jesus wept
                      Polishing a turd near you!!

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