Submitted by Doctor_YOOOU t3_z731d6 in news
SubstanceAltered t1_iy664gg wrote
Reply to comment by BrckaLo in Duo indicted in $575 million crypto scam by Doctor_YOOOU
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?
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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