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Joined 6 个月前
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Cake day: 2023年12月28日

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  • It is a bearer asset

    Meaning your money can be stolen and it’s gone forever unless you convince them to return it

    that nobody can take away from you without force

    Unless your wallet’s password is cracked, then you’re fucked and have no recourse. There have been so many issues with wallets generated with a bad algorithm that allows people to break your phrase easily and leave you without anything. And that’s not even getting into hot wallet issues where you get rug pulled and they steal all your money or you decide to give your money to someone like SBF and the whole exchange does down.

    There are so many examples that disprove this statement that it’s honestly hilarious.

    and no government can inflate away and leave you poor.

    No, instead you can get left poor by some scam you fell for and have even less recourse to get your money back than if it was the government.


  • You may not see it as money, where I do, since I can buy the things I need to survive with it.

    Can you go to a random store and buy food or goods? Can you send it to your landlord for rent? No, only a small sunset of orgs take it, because everyone else understands that shit like transaction delays and inconsistent gas fees means it’s impossible to effectively run a business on monopoly money that doesn’t have a set worth.

    You can consider it to have monetary value, and I do insofar as you’re playing with an unregulated security that should be taxed, but it’s not money in that you can buy an arbitrary good for sale. You’re playing with monopoly bills that someone will agree to pretend is real money, but most businesses will laugh you out of the building and tell you to come back with real money. Because crypto is just a financial asset that people give monetary worth, but it isn’t money.