Cryptocurrencies are a collection of binary data which is designed to work as a medium of exchange wherein individual coin ownership records are stored on a public ledger using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of ownership.
@ISIDEWITH3yrs3Y
No
@9FT9THZ7mos7MO
Cryptocurrency has an annual volatility rate of 81 percent and a daily average change of 4%, which means that there's no predicting when your money will actually be worth anything. Not to mention that if the government took it as an accepted currency, they would have to control most of the supply to be able to keep its worth and not take on massive losses from it.
@ISIDEWITH3yrs3Y
Yes
@9FT9THZ7mos7MO
Cryptocurrency is a plague on society. You can't just make up a bunch of fake money to put stock behind, and it's way too volatile, it can change in an instant, way worse than even the stock market. We need to go back to the gold standard, where every single dollar is backed by gold. Back then, our money was actually worth something.
@MinorityWhipSeafowl7mos7MO
You seem like you would instantly become one of the biggest advocates for decentralized protocols (crypto) if you just spent 1hr researching a couple utility token projects.
@GovernanceGlobeIndependent10mos10MO
By offering a decentralized alternative to traditional banking systems, countries like Venezuela which have massive hyperinflation, have become a lifeline for citizens by still allowing them to participate in global commerce and preserve their wealth. Enabling legal use of cryptocurrencies would democratize financial systems.
@JourneyToCapitolLibertarian10mos10MO
Absolutely, do you want full control and autonomy over your money and assets, or do you want to entrust them to tainted and corrupt bankers? That's why cryptocurrencies are a financial revolution.
@9G69CNW6mos6MO
Cryptocurrency, as it stands, is inherently unstable in its valuation. Using it as a currency is risky, and its fluctuating values means that to not rip off customers or merchants, systems will have to be put in place to transfer money based on the fluctuations in value, which is a waste of time and more complicated than just using a stable currency.
@ISIDEWITH3yrs3Y
No, classify cryptocurrencies as unregulated commodities
@9GX6YPV5mos5MO
Agree, at this time I am distrustful of governments ability to regulate cryptocurrencies for the benefit of the people. Allow The People to use this area for their personnel enrichment at their own risk.
@SenateSynergistGreen10mos10MO
Cryptocurrencies as unregulated commodities could pave the way for greater financial equality. For instance, they can potentially disrupt the traditional banking system and provide financial services to the unbanked or underbanked populations globally. Allowing these individuals to participate in economic activities could lead to more equitable wealth distribution.
@ISIDEWITH3yrs3Y
Yes, but only for cryptocurrencies that hold stable value without price fluctuation
@9HQ2YQW4mos4MO
You don’t know if you are being hacked by using cryptocurrencies so it would be nonsense to use them
@9FTTN2YRepublican7mos7MO
I agree if they have stable value. But those that fluctuate and drastically lose value should not be used as currency
@ISIDEWITH3yrs3Y
@ISIDEWITH3yrs3Y
No, classify cryptocurrencies as highly regulated securities
@VotingViceroy10mos10MO
Regulating them as securities would exclude a significant portion of the population from participating in the market. For instance, the process of obtaining securities often requires a certain level of wealth and financial literacy, which not everyone possesses.
Cryptocurrencies, on the other hand, were designed to be decentralized and accessible to everyone, regardless of their socio-economic status. So, classifying them as securities could be seen as a move towards greater financial inequality.
Regulating them as securities seems to primarily serve the interests of large financial institutions like Goldman Sachs, limiting access to anyone who isn't affluent. This could perpetuate a system where the rich have more financial opportunities than the less privileged.
No, classify them as a Ponzi scheme(pyramid scheme), and take criminal action against those who promote them.
@azure_azizPeace and Freedom10mos10MO
A majority of crypto projects actually have real world utility. If the project's only goal is to be a "currency" then yeah thats probably a red flag that it may be a scam. Cryptocurrency was probably not a good name to choose considering that the goal of most of the projects is to be a decentralized service, like the internet, that is not owned or controlled by anyone. You just trust it to work like code and not subject to the human nature of corruption and greed.
Here's some categories that are trying to bring decentralization to real world services (im not going to name… Read more
Yes, but only well established coins
@ChaseOliver 4mos4MO
Sellers and consumers should be able to determine which methods of payment best suit their transactional needs.
@charlie3sticks 2mos2MO
No for the very simple reason that cryptocurrency, and all non-state back currency will always be outside of the sphere of monetary policy. You can pay your shady drug dealer in apples or whatever tickles his fancy, but this is jargon to try and create a foundational structure with the end goal being the degradation and acceptance of this criminal enterprise.
@9HTWRKY4mos4MO
Governments are not allowed to classified Cryptocurrencies as legal forms payment, as they will restrict or watch what others do anonymously online with their payments, away from prying eyes from the government.
@9HTDCH44mos4MO
government creates an official digital currency, and you can transfer your other currency to this one but cannot transfer it back if the other one goes back up in price and you can use it as a legal form of payment.
@9H6NY8F5mos5MO
I don't understand cryptocurrencies, but if it's a way for the rich to get richer, then yes it should be added in so that it can be taxed
@9H4XF625mos5MO
I don't even care, but if its worth money than sure. Buissnesses shouldn't be required to accept it though.
No, but since online currency is inevitable, the government should create an official well-regulated and stable digital currency
@9GVLHLN5mos5MO
No. While they are easily trackable by the government, they aren't by the person. If cryptocurrency is made a legit currency, it will be very hard for the owner of their currency to protect
@9GSNTHHIndependent5mos5MO
Cryptocurrencies are pyramid schemes that have subjective value assigned. They are highly speculative and therefore have no play as legal tender.
@9FR2KGHRepublican7mos7MO
Yes and it is not the government's place to allow or disallow forms of payment among private parties
@9FPHT6M7mos7MO
Yes, but not as legal tender
No, And Outlaw Cryptocurrencies
@9FLC2KB7mos7MO
No, cryptocurrencies should not be classified as any type of currency
@9FKGKYVLibertarian7mos7MO
No, The government should have to say in cryptocurrency at all.
I think the government should not be involved in Crypto but shouldn’t have restrictions on Crypto but also should have it be free to be a currency
@9F9Z26P7mos7MO
No, classify cryptocurrencies as a new class of investment.
@9F7SNL57mos7MO
Government shouldn't be allowed to decide what forms of payment are "legal"
@9F6B4287mos7MO
The Government should not accept it as legal forms of payment for taxes, and government funds, but should not ban it for casual consumer transactions
@9F3393D7mos7MO
The government should not interfere in the marketplace.
@9DYW6TQ8mos8MO
No, and cryptocurrencies should be banned.
I do not understand the question
@99K9HSZ1yr1Y
No and recognize cryptocurrency's role in organized crime and exploitation.
@99G5GNZIndependent1yr1Y
No, they pose too great a risk for illegal activity.
@99GB5LC1yr1Y
no because it could be used for fraud
@99FMMCP1yr1Y
No, it should not be up to the government to dictate what form of payment a private company will accept.
@99FL4V41yr1Y
No, cryptocurrency is too volatile to be used long-term
@999DD461yr1Y
I am not educated enough on this topic.
@9995TCTProhibition1yr1Y
No, cryptocurrencies are stupid.
@98Z4HN21yr1Y
I know absolutely nothing about cryptocurrencies.
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