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Get your vote in now!!
(lemmy.world)
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this post was submitted on 02 Jun 2024
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since people treat crypto as money, it is money.
The only ones that treat it as money are in on it. Otherwise, you could go to a Best Buy and get a TV with your crypto-card.
I can't buy a TV with turquoise either. or sumerian shillings.
And what does that tell you? That maybe those things aren’t legal currency??
Then US Dollar isn't legal currency everywhere outside of USSA. You can't just go to shop and buy groceries with it.
It’s exchangeable. Go to a money exchange and see how much your bitcoin is worth.
now you're shifting the goalposts. why should modern legal standards define a universal anthropolgical phenomenon?
No goalpost has been moved. Currency is clearly defined. So whatever other valuable item you try and offer up as an example will be dismissed as well.
we were discussing money. it's not narrowly defined by what the US government decrees. it's a universal phenomenon across all cultures that predates even written records. do you accept barley corn as payment? the answer doesn't matter because people have used it as money regardless.
Can you buy a tv with a silver bar?
No, because it’s not legal currency. Are you getting it now?? Valuables aren’t all accepted currency….
Your argument is DEEPLY flawed.
Kenisis is apparently backed by silver, I think that solves it all somehow
WTF is Kenisis, and can you walk into a store and buy a TV with it?
Can you walk into store and buy a TV with British Pound?
In the UK and its territories, yes.
Then you can't with dollar. But maybe can with Euro, not sure.
Are we still debating if crypto is actually a currency? Because yes, currencies can be localized. That crypto is agnostic to localities does not make it any more of a currency.
If you are trying to make another point, I may have gotten lost in the thread.
This happens. I was mostly debating Pratai's "US dollar is the only legal currency in the world" nonsense.
Is it too thick sarcasm, incompetence or you just wanted to say smart cards?
Bitcoin isn’t legal tender. Just accept it.
Dollar isn't legal tender either. Everyone wants something called "рубль".
Accept it
blocked the Russian bot.
😂😂😂
I hate to be “that guy” but your definition of money is a little constrained. By that definition, the only “money” is the money of the country you’re currently in. Can you walk into a bestbuy and purchase a TV with Yuan?
You’re likely trying to say “Can you walk into a normal store of an appropriate country and pay with that currency” but even that is flawed, as certain stores don’t accept credit/debit, or don’t accept cash.
My definition of money is “legal tender.”
https://www.digitalmint.io/customer-support/faqs/is-bitcoin-illegal-or-legal/#:~:text=Bitcoin%20is%20legal%20in%20the,to%20accept%20Bitcoin%20as%20payment.
You literally quoted an article about the US…. Which is again an issue. The Canadian dollar is not legal tender in the US.
There are also countries where the “legal tender” is useless. Take Zig, which is the recently mandated legal tender of Zimbabwe, which is so scarce that it’s impossible to trade in, leading people to fall back to the (by your definition) fake currency of the US Dollar.
I don’t really care what is legal tender in places I will never live. If I visit, I will convert my money to the local currency as needed. Bitcoin however, is NOT going to be among them.
Because it’s not money. It has value, but it is not money.
Lmao this is so weird. You’re talking about how the only real money is legal tender, but then you go off about how you don’t care what legal tender is anywhere other than the US.
I mean, good for you. No one is trying to force Bitcoin down your throat any more than they are the Zig. But using the US definition of what is considered legal tender isn't the vehicle you seem to think it is.
Bitcoin isn’t legal tender. Period. It is a “valuable”
You can’t make in-store purchases with it- therefore, it isn’t a currency. It is a valuable.
Yes, in the US there is only one legal tender, the US dollar. Good job sussing that one out, it must have been a monumental effort on your part.
Of course other countries have different legal tenders. Do you happen to know the legal tenders of El Salvador?
Do you live in El Salvador? Because if not- I’d imagine bitcoin should be every bit as irrelevant to you as it is to everyone else.
Look at another branches of conversation. This is 'Murica-brained troll, that already banned two people. Just don't bother.
People certainly don't treat crypto like money.
And I suppose that's where our conversation has to stop because you've now outed yourself as willing to say any outlandish thing to support crypto.
Because I do not believe you can actually think that.
I am not defending crypto. I'm correcting people who don't know what money is
Crypto is an un-backed and unregulated security -- the value of which fluctuates wildly. Turns out most people don't like being paid in something that can drastically lose value in the span of hours.
The few people and institutions that accept crypto as payment either immediately convert it back into real money or are "investors" treating it like the security it actually is.
most money throughout history has been "unbacked" and unregulated
I'm assuming those quotes are referring to fiat currency. Faith in the solvency of the issuing government, widely agreed upon exchange rates, and regulated prices of goods are all forms of backing. Sure: you can argue that's "not enough" but crypto "currencies" don't even have that. Hence why their values fluctuate by the minute -- which defeats the entire purpose of "money".
... government controlled central banks and entire bodies of law exist to do just that. Nobody is regulating crypto.
Crypto lacks the features that make money "money". It doesn't have a relatively stable, agreed upon value. It's not easily exchanged for goods or services. It technically can be used as "money" but that's true of anything -- trading cards, a pile of gravel, etc.
government controlled central banks are a new phenomenon, and money existed long before them.