Re:The political case for a blanket cryptocurrency ban
by JumpCrisscross on Wednesday March 31, 2021 @01:41PM
(#26650389)
> Nobody will stop me from trading my GOOG share for a goat, or a baseball card, if I so choose.
Nitpick, but the SEC would object to that. That said, American securities regulation has a unique philosophy, i.e. every securities trade must be registered and follow a narrow book of rules unless specifically exempted.
Your broader point, of financial and real assets being proven hedges against inflation, stands.
Re:The political case for a blanket cryptocurrency ban
by tome on Wednesday March 31, 2021 @01:48PM
(#26650514)
The transaction must be denominated in dollars, but must dollars actually change hands? I don't think so. Companies buy other companies with stock issues all the time.
Re:The political case for a blanket cryptocurrency ban
by JumpCrisscross on Wednesday March 31, 2021 @02:22PM
(#26651000)
> transaction must be denominated in dollars, but must dollars actually change hands?
I believe it's the other way around. It can be denominated in anything, but trading e.g. the deed to your house for some Apple stock is a no no. (Doesn't have to be U.S. dollars, though.)
Stocks are coupled to the productive output of the firm the stock is issued by, which is coupled to it's real world productivity - which, again, for convenience is measured in a fiat currency.