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A comment on Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers. Parent comment

Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by EVa5I7bHFq9mnYK on Thursday October 06, 2022 @02:20PM (#33111957)
It's the same with coins.

However fiat money must be protected by people with guns against forgery. With one exception: people in power are allowed to counterfeit it, thus robbing the common people, under protection of people with guns.

Gold and Bitcoin are immune to both types of forgery.

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Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by smachiz on Thursday October 06, 2022 @02:59PM (#33112476)
Gold is not, and has never been, immune to forgery. Science has made it harder, but still happens all the time. See: gold plating, gold alloys, etc.
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Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by notch656a on Thursday October 06, 2022 @06:00PM (#33114660)
I'm not aware of any way to actually increase the total amount of real gold in/on the earth in any meaningful way in an ECONOMICAL matter (i.e. you have a net positive income from producing it). The government can make more REAL MONEY for far less than the value of the money.
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Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by smachiz on Thursday October 06, 2022 @07:40PM (#33115608)
That’s not forgery. That’s inflation.

You only get a net positive income for producing gold if the price is higher than the cost of production.

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Re:Celsius Execs Cashed Out $40M in Crypto Before Halting Wi... by bigbillheck on Thursday October 06, 2022 @03:06PM (#33112586)
Counterfeit gold is a long-standing art, even to the present day https://www.thermofisher.com/blog/metals/buyer-and-seller-be...
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