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RE: Digital currencies - Monedas digitales

in LeoFinance2 years ago

From Cambridge definition of money

coins and paper bills used to pay for things

I think is clear, if you can buy something with your cryptocurrency, then is money. It doesn't need to be a physical object.

I can buy a lot of things with ETH or BTC, therefore is money.

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Could you point out where you can use your crypto as cash? Mainly I see webhosting and domains accepting just bitcoin and NFTs accepting ETH but not a lot of marketplaces selling common things like groceries for crypto. And if I see one , it's just available on some other country than mine.😭 (México 🇲🇽)

In Travala for example, you can book hotels and flights in exchange for many cryptocurrencies.

With ETH, the spending possibilities are almost infinite, but mostly digital assets.

And I agree, we still need more use cases in the real world. However, I think this will come in the next years.

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There is still a long way to go on that road @cronicasdelcesar. There are private transactions, I know cases of car buying and selling for example. These days Visa has announced a card to operate with BTC for example. Another example is the ATMs for cryptocurrencies that already exist in many countries.

I know that example when explaining bitcoin, that someone sells a house and the transaction get recorded and on the blockchain and blah blah, but I never knew a real person doing that, and even less the link to that transaction.

I don't consider VISA or any other card issuers to be actually buying and selling with crypto, because what's the point of cryptocurrencies? At the end, you are you are converting your crypto into FIAT.

I mean that something like Open Bazaar or the marketplaces on the Dark/Deep web like Silk Road and such, but way LESS ilegal. Those are the true crypto marketplaces (no FIAT allowed).

We need to change our mindsets and start putting pricetags to stuff not in FIAT but in crypto. Like selling a TV in 0.013297 BTC no matter if the Bitcoin is at 80k or 5k USD.

I understand your point of view, it is going to cost a lot to change the mentality and not take everything to a FLAT currency that for many years has been the only reference of value. That is why I say that the road is very long and has just begun.

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Thanks for your contribution @jmsansan.leo

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