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BrckaLo t1_iy65hwg wrote

Reply to comment by SubstanceAltered in Duo indicted in $575 million crypto scam by Doctor_YOOOU

Cash is legal tender and criminal use is a small percentage of overall use. Cash is cumbersome and only really useful in small transactions. This is why the US doesn't really mint anything bigger than $100. Don't whatabout, the comparison is bad.

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SubstanceAltered t1_iy664gg wrote

Thanks for highlighting why cash is a bad form of currency compared to Monero. You don't need to carry around suitcases of cash or trust a bank to hold your wealth for you.

Criminal use is a small percentage of overall Monero use.

How many dollars did the government print out of thin air in the last couple years?

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BrckaLo t1_iy68z97 wrote

I'm not sure I understand. Are we talking about cash or currency? In the US, the treasury department only prints cash to replace worn out notes. The federal reserve manages currency through reserve requirements and the discount window. I am not current on my fiat currency notes so you might verify. The fed targets a 3% inflation (maybe 2%, don't remember) to encourage spending. No one serious wants a currency that is also a long term store of value (think gold).

The only reason someone would use crypto as tender for anything outside of the developed world is to attempt to avoid taxes or buy something illegal. Any other use is a waste of everyone's time and only an attempt to be hip. No serious business would price an item in crypto without indexing to a government backed currency for exchange.... Cause you know, business related taxes gotta be in legal tender.

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