cryptocurrency is absolutely not going to be a substitute. what happens when your client’s money drops in value halfway through working on their commission?
Is this a serious question? Crypto is inherently decentralised and anonymous, from the base technology of the blockchain. The existence of crypto exchanges is directly opposed to its entire thesis as a digital currency, and only exist because people now treat it like a speculative asset and not like money.
Yes it’s decentralized and very hard to stop to parties from making a crypto transaction. But what about cases where you need to convert your crypto to say euros because the person/business you need to pay doesn’t accept crypto? Don’t you need an exchange for that?
How easy/ widely accepted is it to pay for things using crypto (gas, rent, mortgage etc.)?
The point I was trying to make is that if paying for stuff in crypto isn’t ubiquitous, it’s far less practical as a form of currency.
Not agreeing or disagreeing, but just a note that the alternstive to exchanges is peer to peer trading of cash/crypto where two individuals agree to swap. Obviously a lot more tedious and hard to do that, but with the right tools and mass adoption it could be feesible.
If the government wants to ban crypto all together though, i doubt any solution could exist.
I’m not a cryptobro but these things make me want to hodl on some
cryptocurrency is absolutely not going to be a substitute. what happens when your client’s money drops in value halfway through working on their commission?
Could use a stablecoin that’s pegged to USD or EUR.
USDC seems relatively safe given how much traditional investment is tied up in Coinbase and Circle.
Or what happens when governments ban crypo exchanges?
I think the real answer is for us (the electorate) to start electing officials who aren’t puritanical twats. Way way harder to do tough.
Is this a serious question? Crypto is inherently decentralised and anonymous, from the base technology of the blockchain. The existence of crypto exchanges is directly opposed to its entire thesis as a digital currency, and only exist because people now treat it like a speculative asset and not like money.
Yes it’s decentralized and very hard to stop to parties from making a crypto transaction. But what about cases where you need to convert your crypto to say euros because the person/business you need to pay doesn’t accept crypto? Don’t you need an exchange for that?
How easy/ widely accepted is it to pay for things using crypto (gas, rent, mortgage etc.)?
The point I was trying to make is that if paying for stuff in crypto isn’t ubiquitous, it’s far less practical as a form of currency.
Not agreeing or disagreeing, but just a note that the alternstive to exchanges is peer to peer trading of cash/crypto where two individuals agree to swap. Obviously a lot more tedious and hard to do that, but with the right tools and mass adoption it could be feesible.
If the government wants to ban crypto all together though, i doubt any solution could exist.
Would make it difficult to on/off-ramp though. Though I guess, theoretically, it wouldn’t be necessary if you can use it for payment.
Easy. Agree on the price in a more stable currency, and pay the equivalent in crypto when the work is done.