/biz/ - Business & Finance

>>9251721
thanks bought 100k

>>9251721
you can create debt-free fiat currency, like abe did with the greenback for example

>>9251753
It's pretty big that a central banker admits that (1) gold is a currency and (2) that it's the only currency that isn't someone else's debt in other words that there are flaws with a currency based on debt.

Pretty interesting I think.

>>9251823
They only survived for a few years so it didn't work out?

>>9251901
the bank cartel doesn't like it very much when people do that sort of thing

>>9251721

Gold bugs are the dumbest people on the planet. Stay poor with your dumb rocks.

>>9251941
I have to read up on the greenback, I imagine if the government have complete control of the printing press and can create money out of thin air without any interest then they would overuse it.
>>9252884
Crypto isn't considered money though?

>>9252951
>Crypto isn't considered money though?
In Japan it is.

>>9252951
>Crypto isn't considered money though?

Every single coin is either a pump & dump, Ponzi scheme, or pyramid scheme. Crypto is absolutely dog shit as money, due to volatility, expensive transaction fees, and long transaction times.

That being said, it's a lot of fun to gamble with crypto. Gold is boring as fuck.

>>9252951
>I have to read up on the greenback, I imagine if the government have complete control of the printing press and can create money out of thin air without any interest then they would overuse it.
Banks overuse it right now but central banks are never audited so they can get away with it easily.
In such a system where the government creates debt free money and thus never incurs debt there would still be a need for taxation to control inflation. But you could simply burn all taxed income, and instead create new fiat for government salaries and projects.

>>9252999
>what's an adoption curve
hello boomer

>>9252999
This. nothing in crypto makes sense

>>9253022

Why should any business adopt crypto as a payment method, in its current form? Transactions take longer and are more expensive than Visa. Not everyone wants their transactions to be publicly stored in a public ledger for eternity. The lack of chargebacks is great for businesses, but not so great for customers, which in turn reduces confidence. Hacks are still extremely commonplace and the vast majority of normal people are not equipped to securely store their coins.

I wouldn't be here if I didn't believe that crypto had at least a small chance of becoming a legitimate form of money, but for the time being the crypto market is driven by pure speculation. I've made over $10k in actual cash from trading cryptos over the past few months, but I've never used it to buy anything.

>>9253163
>Transactions take longer and are more expensive than Visa
BCH payments are instant and cost less than a penny, just like how BTC functioned before blockstream got invovled.

>Not everyone wants their transactions to be publicly stored in a public ledger for eternity.
Normies dont give a single fuck about that. There are coinmixers, and privacy coins if you need extra privacy.

>The lack of chargebacks is great for businesses, but not so great for customers, which in turn reduces confidence.
What a meme. If you keep doing nonconsensual chargebacks that card of yours wont work for much longer.

>Hacks are still extremely commonplace and the vast majority of normal people are not equipped to securely store their coins.
This point I agree with you on, there needs to be better more user-friendly software, and maybe some actual crypto banking.

>>9253163
>Why should any business adopt crypto as a payment method, in its current form? Transactions take longer and are more expensive than Visa.
That's not true. It's common for me to have transactions on my Mastercard that take up to a week to settle. They're certainly not cheap either. How can banks offer you 2% cashback on purchases? Someone's eating that cost. It's not the credit card company, and it's certainly not the bank.