Notice: You have been identified as a bot, so no internal UID will be assigned to you. If you are a real person messing with your useragent, you should change it back to something normal.
Anonymous A started this discussion 1 month ago#136,314
I believe from what I gather, because of declining revenue and institutional investors fleeing, western union, a company old enough to remember Abraham Lincoln, is going to pivot yet again and this time with stablecoin, and a crypto wallet too apparently which can be used for cash withdrawal from their massive amount of little retail stores
Anonymous B replied with this 1 month ago, 1 hour later, 2 hours after the original post[^][v]#1,446,995
@previous (A)
Just kidding. Cryptocurrency is mostly a useless scam that serves no practical purpose and has mostly benefitted the rich. It's embrace by any respectable institution is embarrassing.
Stablecoin is supposedly stable, it means it's value is tied to something and I believe they have it tied to the dollar. The idea is that as they transfer money for customers, they can do it all inhouse, cutting out other banks and currency risks.... Which is supposed to cut out costs or something. Meanwhile all their little "banks" can utilize their massive reach and accept their own coins and supposedly other coins
> Cryptocurrency is just a technology. > > Calling it a scam because people use it in scams is like calling the dollar a scam because a lot of scams involve dollars.
Crypto currency is a digital fiat that has no central bank backing. Its value is more fictitious than printed paper with dead people’s pictures on them. It’s a medium of exchange with a ledger behind it. Other assets entitle you to dividends, interest, land, or other legal rights.
Mr. Bloody Lemonade !0JqexkOGBc joined in and replied with this 1 month ago, 25 minutes later, 20 hours after the original post[^][v]#1,447,142
@previous (C)
From a technological perspective, I think crypto is cool, but I’d never put my money in it because it’s not a stable asset. Unless you’re talking about stable coins, but then what’s the point? If it’s pegged to the dollar I’ll just keep my money in a bank account and it’s backed by the federal government up to $250,000 or so.
> From a technological perspective, I think crypto is cool, but I’d never put my money in it because it’s not a stable asset. Unless you’re talking about stable coins, but then what’s the point? If it’s pegged to the dollar I’ll just keep my money in a bank account and it’s backed by the federal government up to $250,000 or so.
> in fact their central banks openly say they want some small inflationary effect.
Btw inflation is actually good for the economy because it incentivizes people to work harder and spend their money. Your salary is paid for by somebody else’s consumer spending. If people aren’t spending, people aren’t getting their salaries. How do you encourage people to spend not save? You inflate the currency. If a dollar today is worth more than a dollar tomorrow, you might as well spend it today. That’s part of why China has been having difficulty catching up to the US in terms of nominal GDP, because China was so poor so recently in terms of relative history, Chinese people have a culture of saving money, but that’s actually bad for their economy. That and the Chinese government deflates the value of their currency so that it’s easier for foreigners to buy Chinese products. They can do that since they’re not a democracy so if it makes it harder for Chinese citizens they can’t complain about it. So it protects their domestic manufacturing capacity at the expense of standard of living and GDP growth.
Mr. Bloody Lemonade !0JqexkOGBc triple-posted this 1 month ago, 3 minutes later, 1 day after the original post[^][v]#1,447,221
Ironically part of why the US economy is so great is because Americans have kind of stupid spending habits and rely on debt more than they should, which keeps the money flowing.
> Ironically part of why the US economy is so great is because Americans have kind of stupid spending habits and rely on debt more than they should, which keeps the money flowing.
Everyone is monetized. Poor people are fantastic for the economy because they spend 150% or more of income and often rent their paychecks through check cashing.
They spent 500 million on intermex, it's really all just about cutting out banks, they transfer money, mostly for those without a bank account, or so I remember.
Anonymous C replied with this 1 month ago, 2 hours later, 1 day after the original post[^][v]#1,447,245
@1,447,219 (Mr. Bloody Lemonade !0JqexkOGBc)
Sure, but that still means holding bitcoin is better for your wallet than cash if you are just comparing currencies.
Holding an inflationary fiat currency while waving off a deflationary fiat currency because it's fiat isn't rational.