Comments by "3namechangezalowd Evry90dayzlernmor" (@3namechangezalowdevry90day7) on "James Jani" channel.

@Adidasler593 I still don't get the advantage of crypto compared to what already exists? To use the OP example, the internet lets us discuss what's being shown in real time with people we don't even know, unlike TV and a phone. Regular currencies can be "staked" in CDs and money market accounts, and used to store value. Cryptos are arguably less valuable as a currency hedge than precious metals because they lack any practical use and their prices fluctuate wildly. Stocks and bonds are at least shares of companies with buildings and equipment that can be auctioned off if they fail. Cryptos are shares in some programmer's pipe dream. If countries ban the use of cryptos, in favor of their own CBDCs, they may as well be confiscating because what's the point of owning what you can't use?
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I suspect the NFTs are being used to launder money. " Bob gave me this million bucks worth of Bitcoin for my cartoon of a chinchilla, not for the briefcase full of Fentanyl. All the receipts are on the block chain".
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What's the practical use of cryptos other than sending money overseas without Western Union charges?
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Who pays for transactions to be made after all the set amount of bitcoins is mined?
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@tangleass So, like a sales tax that goes to the miner? But unlike regular currency, which loses value to inflation if not spent, people buy Bitcoin hoping it'll grow in value. So that fee would give them even less incentive to spend. Plus, governments aren't going to like transactions they can't tax. So they'll probably figure out a way of adding a layer of sales tax or ban Bitcoin altogether in favor of their own CBDCs... The only countries that'll like cryptos will probably be second and third world places that have a net gain thanks to the infusion of cash from expats sending money home.
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What's the advantage of cryptocurrency other than being able to send cash overseas with fewer charges than Western Union?
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@ericsahlberg7103 The values of different cryptocurrencies drop all the time. Less purchasing power is the same as inflation. The drops in value may not occur at the same time as in other currencies but they do happen
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NFTs are made for money laundering! Let's say you want to set your kid up for life. You and your buddy have your kids' drawings as NFTs, he buys your kid's NFT, you buy his kid's NFT. Boom! Income! You can set up SEP IRA's for them and rinse and repeat yearly! Maybe with different buddies so the IRS doesn't catch on...
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