03-06-2024, 12:20 PM
(03-06-2024, 05:54 AM)quintessentone Wrote: Well my government allows money to be given as a gift to others, I would hope your government does the same.
Things certainly are changing quickly and I just watched the news yesterday on cryptocurrency rising the highest it has ever risen, and my investment antenna stood at attention. I guess I'm easily indoctrinated into new tech. and seemingly easier and better ways to do stuff...I always have been. Is that having a choice? I'm wondering if that is true now.
Yes, our government allows money to be given as a gift to others.
Cryptocurrency...bothers me simply because it's not really backed by anything. There's a zillion types of these currencies and its worth isn't linked to anything material (as far as I can tell.) It's like NFT's. There's no physical thing that I can swap for something.
I've got some old German pfennigs (pennies) around here somewhere that I could sell for, say, a dollar to a kid or anyone else who wants a "neat old coin." It will always have some sort of value as a physical object. However, the digital-only artwork that I do will go away forever if my computer crashes and I don't have a backup or a physical print out. And artwork that I did on computers in the early 1980's (when the tech was pretty primitive) is basically gone. The "drawn on paper" stuff is still around, however.
I'm comfortable with the bank currencies and credit cards mainly because the entire world agrees that there's value in these transactions (the same reason that we accept some types of pieces of paper (for example, that $50 dollar bill) as being valuable.) But the entire world doesn't agree that these cryptocurrencies have value (the Dollar Store won't take DogeCoins and currency exchanges that change money from one country's currency to another country's currency won't take them, either)
Hence, I don't really trust them.
