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To: FRinCanada2

So the total MONETARY BASE of all cryptos keeps getting expanded and expanded by new coins continually popping up like weeds. That sounds like constant money printing.


38 posted on 04/23/2021 4:36:25 AM PDT by BiglyCommentary
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To: BiglyCommentary
From time to time there are new CC with new use cases. The binary beanie baby use case for ETH is an example. Yes, you don't own your beanie baby, you just own a deed on the ETH blockchain. But of course you don't own your home and land either. That's just a deed at the courthouse.

To look at CC properly you need to look at it the same way the IRS and SEC do. Which is two ways: first as a commodity like digital gold but with no intrinsic value. I pay 15% long term gains taxes on those commodity sales plus 5.75% more for the state of Virginia. Second as a security. XRP is a perfect example, premined, and sold like a security. It's also considered a commodity by the IRS, but you are buying into new use cases that XRP owners come up with.

There will be new binary commodities that will be currency and have other uses and have intrinsic value. Those will be more interesting because you can invest in data and services instead of just transactions like BTC (and BTC is not very good for transactions especially refunds).

45 posted on 04/23/2021 5:03:06 AM PDT by palmer (Democracy Dies Six Ways from Sunday)
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