@Marushia Dark

I prefer not to bet on deus ex machina....

I don't know what you mean by that.

I think he's referencing the movie?

Or the game? <:trumpepe:588019356215279642>

@Jeremy


If you were reading I clearly stated I am not a gold bug. I was merely using specie as a comparison to crypto on the subject of currency.

Alright, I'm going to begin unloading my dissertations on this server.

Fair enough, Jym.

Desu Ex Machina means 'god from the machine' it is the argumentation that a hypothesized technology will solve the problems in a system.

Ultimately, all Crypto is, is blockchain technology applied to digital currency as a measure of security to prevent hacking or inflation.

I know what DEM means, I just wasn't sure what you were referring to - apps, the singularity, etc.

I'm a supporter of using beads and shiny rocks for money so Skynet can't steal all our cash

but that's just me

Apps and the Singularity would both be excellent examples but no I was referring to "apps will fix it". Fun fact 'machina' was a generic term for what were used as special effects in theater back in the day so origonally "deus Ex Machina" meant "we solved the plothole with CGI."

Literally, all you'd need is like the crypto equivalent of Square, which I'm sure someone already invented a crypto wallet app. I think Cash App is supposed to be that, or close enough in concept to it if I'm not mistaken. The tech already exists, it just needs to be more popularized and people will follow. Again, you probably had people making the same claims as you are now about credit cards back in the day

Or even if it doesn't exist, it's hardly a stretch of imagination to see it happening in the next couple years

I'd say it's a big step. Like say I want a hamburger. I know what it is in dollars. What is it in BTC? Will that change in between me acquiring BTC and acquiring a hamburger?

How hard would it be to have an app on your phone that you swipe at the register and it automatically deducts $X worth of crypto from your associated wallet?

People already use those QVC codes to pay for stuff

All the conversions are done behind the scene through the app

Or at worst, you pull up the app and it tells you the dollar-value of your balance

Same as you would checking your online banking account. Again, it's all just money of account

It would be easy. But due to fluctuations the 5$ in crypto I spent is 8$ worth of crypto later I kinda got robbed on that burger. The burger shop certainly will not use crypto because they need a business plan where values are fairly stable to project ROIs.

This seems relevant:

https://coincodex.com/article/1590/how-to-pay-dinner-with-cryptocurrency-in-restaurant-and-anywhere-in-the-world/

I see here many buzz words that do not answer any of my primary issues.....

Again, that same fluctuation you're concerned with exists in paper currency. That's literally what inflation is, a devaluation of your purchasing power as the result of too much supply over demand.

**degree of fluctuation**

https://www.google.com/imgres?imgurl=https%3A%2F%2Fen.bitcoinwiki.org%2Fupload%2Fen%2Fimages%2Fthumb%2F3%2F3c%2FBitcoin_price.png%2F550px-Bitcoin_price.png&imgrefurl=https%3A%2F%2Fen.bitcoinwiki.org%2Fwiki%2FBitcoin_history&docid=WJwurx3BETx7zM&tbnid=VwHdHNczuznnFM%3A&vet=10ahUKEwjP0IzKwszkAhXdJDQIHdSsCj8QMwhNKAEwAQ..i&w=550&h=217&bih=601&biw=1229&q=bitcoin%20value%202005-&ved=0ahUKEwjP0IzKwszkAhXdJDQIHdSsCj8QMwhNKAEwAQ&iact=mrc&uact=8#h=217&imgdii=pUj645jpK-PtoM:&vet=10ahUKEwjP0IzKwszkAhXdJDQIHdSsCj8QMwhNKAEwAQ..i&w=550

That's relative to USD, but what happens when crypto becomes normalized to the point where most are trading in said currency? I'm sure if I took the exchange rate of USD versus, say, the Yen or the Pound, it'd look like that chart with volatile fluctuations

Worst case scenario, if you feel insecure about it, if you're worried that its USD value will drop right before you hit "Accept," then at worst, it just encourages more frugal spending, which I can't see as a bad thing. Don't buy unless you're absolutely sure.

Remember back in the 1800s when banks used to be conservative and only lend to people they had high-confidence could repay? Ah, those were the days ...

$1 = $0.05

what is maths?

Yeah that is relative to USD over a relatively short period of time.

@GalaxyBrainer In its original conception, a "dollar" was simply a fixed amount of gold or silver. The $0.05 is relative to that amount. The idea being that our currency has been diluted through supply and demand.

https://en.wikipedia.org/wiki/Dollar_coin_(United_States)#Early_dollar_coins

ah ok

Yeah I own some Kennedy silvers.

I find it amusing that the most popular currency during the colonial period were actually Pieces of Eight.

https://en.wikipedia.org/wiki/Spanish_dollar

Piece of eight was actually pretty good. The Bohemian Thaler was the gold standard though. Well silver standard really. The weight and purity was so good that it was thought a waste of resources to reduce them to ingots.

Exactly my point regarding crypto. It's a waste to use commodities when bookkeeping will suffice.

Ultimately, the reason why currencies fluctuate has to do with the fact that value is subjective and no two people can objectively agree on what the value of something is relative to everything else. <:dapperBADGE:437819062169370624>

I'm not disagreeing on the problems with fiat currency. What I am saying is that to actually do things in the real world a currency cannot be that volatile. Say I am a bricklayer and I am going to build houses. I will buy bricks and mortar at a price in some denomination. I will expect return for future work in some denomination. If there is a large shift in the value of that currency between my purchases for the quarter and my sales I can lose out purely due to that volatility.