Re:Coinbase lets you convert your tokens into gift cards
by pc86 on Thursday July 26, 2018 @09:57AM
(#17617531)
> Deflation means your money gains value doing nothing. You're criticizing an aspect of inflationary monetary policy.
What a surprise, the person railing against fiat currency and trying to reinvent credit cards "but with bitcoin, and without fees!" has no idea what they're talking about.
And I think you only need that disclaimer if you are a lawyer or CPA and what you're saying could reasonably be construed as legal or tax advice.
Using a Bitcoin gift card to purchase goods is the same as selling it for cash.
> you can literally have them lose value in your pocket via deflationary monetary policy
Deflation means your money gains value doing nothing. The dollar is inflationary. It loses a little bit of value if it sits around doing nothing. (If you have lots of money losing money to inflation, you're hiding illegally-obtained currency or doing something stupid.)
Moreover, this is an odd complaint to make of the dollar relative to cryptocurrencies, which have a habit of suddenly losing lots of value.
> the work only with the confines of a nations borders
Dollars are relatively internationalized. And again, an odd complaint to make of the dollar relative to cryptocurrencies.
Disclaimer: I am neither a lawyer nor a CPA. This is not legal nor tax advice.