Originally posted by AtW
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Cryptocurrency
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Your friendly neighbourhood VirtualMonkey - Not giving financial advice since...well...ever. -
Originally posted by AtW View PostYou can buy gold for your dollars, what's the problem?
If you want to charge for your services in ounces of gold then you can also do so, or use dollars/euros as proxy measure that can be converted into gold.Your friendly neighbourhood VirtualMonkey - Not giving financial advice since...well...ever.Comment
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Originally posted by VirtualMonkey View PostSo if you could buy gold with bitcoin then you'd accept it as valid then?Comment
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Originally posted by VirtualMonkey View Postgood luck with thatComment
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Originally posted by AtW View PostGood luck with what? It’s trivial to buy physical gold, as long as you have the dosh (usd/eur/gbp)
I notice you didn't actually answer the question on whether if you could buy gold with bitcoin you'd accept it as valid.Your friendly neighbourhood VirtualMonkey - Not giving financial advice since...well...ever.Comment
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Originally posted by VirtualMonkey View Postyou weren't referring to the promise to pay the bearer on demand...?
I notice you didn't actually answer the question on whether if you could buy gold with bitcoin you'd accept it as valid.
Bitcoin specifically is totally unsuitable for quoted price currency due to crazy volatility, it’s bad enough that underlying commodity can fluctuate in price, but if actual currency goes up and down then it’s total BS.
What Mor Ons like you don’t get is that proper currency is backed by its acceptance for payment of taxes - that creates inherent demand for currency (if the economy is big enough and currency free tradeable)Comment
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Originally posted by AtW View PostIt’s already possible to buy gold for anything of value that can be exchanged for real money, that does not make it valid.
Bitcoin specifically is totally unsuitable for quoted price currency due to crazy volatility, it’s bad enough that underlying commodity can fluctuate in price, but if actual currency goes up and down then it’s total BS.
What Mor Ons like you don’t get is that proper currency is backed by its acceptance for payment of taxes - that creates inherent demand for currency (if the economy is big enough and currency free tradeable)
You see...for every stupid comment you make there is something like this. You can buy gold with it, you can pay taxes with it. You have just declared bitcoin a currency according to this article and and your own poorly thought out statement.Last edited by VirtualMonkey; 6 July 2019, 21:58.Your friendly neighbourhood VirtualMonkey - Not giving financial advice since...well...ever.Comment
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Originally posted by VirtualMonkey View PostComment
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Originally posted by AtW View PostTaxes in Ohio are calculated in DOLLARS, do you get that very important bit?
Of course crypto is volatile. It's market cap is tiny at the moment. If fx had a market cap so low it would also be as volatile. When that market cap increases we'll see lower volatilityLast edited by VirtualMonkey; 7 July 2019, 06:33.Your friendly neighbourhood VirtualMonkey - Not giving financial advice since...well...ever.Comment
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Originally posted by VirtualMonkey View PostBut paid for with.. go on ..say it
Of course crypto is volatile. It's market cap is tiny at the moment. If fx had a market cap so low it would also be as volatile. When that market cap increases we'll see lower volatility
Fx market cap is high because there are real economic players there, unlike tulipcoin scam fixed “market” full of scammers and Mor OnsComment
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