Re:Bitcoin hits $28k as uncertainty surrounds banks
by thricegreat on Monday March 20, 2023 @01:23PM
(#35235112)
You're implying it's impossible to purchase goods and services with cryptocurrency. What's stopping someone from say purchasing gold bullion with cryptocurrency and in turn exchanging that for cash? There are also OTC exchanges. My point is there are many methods to exchange it for some other thing of value that doesn't directly involve exchanges and in turn the traditional banking system.
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Re:Bitcoin hits $28k as uncertainty surrounds banks
by dogma1138 on Monday March 20, 2023 @01:47PM
(#35235573)
I don’t think you understand how the gold trade works if you think you can buy any substantial amount of gold without going through an exchange.
Crypto adds nothing to this it isn’t any different in principal to any other securities banks use for storing wealth.