I've never seen anyone here give a convincing argument as to why cryptocurrencies aren't "real" money

I've never seen anyone here give a convincing argument as to why cryptocurrencies aren't "real" money.

Maybe Any Forums doesn't understand monetary theory?

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en.wikipedia.org/wiki/Bitcoin_Law
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I know I dont so far as in fact

It's not money just like gold isn't money. Nobody pays for anything using gold or bitcoin. Currently, anyway.

Bitcoin and Monero are used to buy drugs pretty regularly.

Not backed by a resource or a useful resource itself.

I can't use cryptocurrency to buy groceries every week or pay my bills every month. They're completely worthless as far as I'm concerned.

crypto literally doesn't exist. it's not backed by anything, it can't be used for anything. there's a reason a coins worth is measured in USD and not actual purchasing power.

What resources back cash?

"Real" money is issued by a recognised sovereign authority with their official seal as legal tender that must be accepted as payment of taxes,debts and as payment for goods and services in that territorial jurisdiction and/or for international payments subject to mutual consent or treaty obligations.
Therefore crypto,gold or any other supposed store of value is not "real" money. Simple as.

That'll be because they are real money
Why would I be giving arguments against them
So the same as fiat, then?
At least cryptocurrencies have real scarcity, people can't just print more

No fiat currency is real and Komi sucks.

The military and legal power of the sovereign state

en.wikipedia.org/wiki/Bitcoin_Law

and Monero is backed by the power of the drug market and mafia
and we all know who wins the war between the US government and drugs

>I've never seen anyone here give a convincing argument as to why cryptocurrencies aren't "real" money.

youtu.be/iisPX_xVMV8

They're just a ponzi scheme, the "value" is based on faith of some moronic tech guy saying "this is the future", nothing else.

Dumb retard go clean toilet

There's zero military power enforcing its legitimacy.

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a solar flare will end crypto along with the internet itself

give an argument as to why it IS a "real" money

you lost all ability to effectively call someone a retard when you seriously invested in crypto

The US government? How new are you? The CIA runs the drug trade

>That'll be because they are real money
Categorically wrong
see
>So the same as fiat, then?
Fiat is backed by the full military and legal power of a sovereign state and international treaties
What's your point? Can it be used as legal tender and payment of taxes,debts etc? No. So it's not money.
>the power of the drug market and mafia
That doesn't make it LEGAL tender. The clue is in the name.
>and we all know who wins the war between the US government and drugs
The US deep state licenses and controls the illegal drug trade with some help from mossad ISI and others

they are a volatile non producing asset, not a currency

Money has stuff backing it
We used to have gold backing us dollars
Now it is foreign oil
Crypto currency is bought with dollars you dont buy dollars with crypto you sell crypto for dollars
As crypto started being accepted by business it could start being seen as money rather than a meme but that started to go away after the market became to volatile.
The real reason though as to why we do not call crypto "money" is because you dont not have an army backing it to reinforce it. Venezuela can print dollars all day but who gives a shit it is paper. You stop using United states dollars euros yuan etc it can lead to wars being fought. Just look at how tense things got over the ruble being refused a few months ago. If people stopped using crypto today wars wouldn't be fought just some people who backed it may kill themselves they die with the ship where as if you try to sink the ship of real money they would rather take everything down with them before giving up the level of control they have
>if crypto is money beanie babies are money. It is a transfer tool to get dollars

>Can it be used as legal tender and payment of taxes,debts etc? No.
Yes.

fed money for no privacy because cash is still more anonymous than niggercoin

Business dont have to accept crypto they do have to accept your pennies though. Check mate atheists

>They're just a ponzi scheme
Can you describe who Charles Ponzi was and what specifically he did without running off to a search engine to look it up?

Day what you will about 4pol, is a great place for spotting fallacies.
Strawman, ad homenim and either/or's galore. As many as the day is long.

>Now it is foreign oil
Yes and no. Ultimately it is US military power that protects the US dollar as a global reserve currency. That is coming to an end soon.
Other nations simply assert by fiat their currency ie backed by the state
There's technically no problem with this provided the amount in circulation reflects the real economy in the nation
The problem is private banks issuing credit money with interest attached ie usury.

>>Can it be used as legal tender and payment of taxes,debts etc? Yes
LMFAO. No. Try paying your taxes in crypto and see what happens

same reason fiat is fake
not backed by precious metals (i.e. silver and/or gold)
simple as
/thread

>gotcha!
try again, everybody knows what he meant. catching somebody on a technicality (which by the way, Ponzi scheme is commonly used to describe various scamming operations, regardless of their similarity to the original scam) isn't winning an argument, it just shows you don't have any.

>same reason fiat is fake
How is it fake if the government,business and everyone else accepts it?
Gold backed currencies are retarded as there's simply never enough gold to reflect the actual productive enterprise of the entire national economy