BrckaLo
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.
BrckaLo t1_iy68z97 wrote
Reply to comment by SubstanceAltered in Duo indicted in $575 million crypto scam by Doctor_YOOOU
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.