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SEC Doesn’t See Cryptocurrencies Lasting Long

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Re: SEC Doesn’t See Cryptocurrencies Lasting Long

#41
post #39

Earlier quoted context omitted.

There are hundreds of "official" currencies in the world today, is dealing with them a problem you deal with in your life? I assume many people here travel (or did pre-covid) frequently and mostly don't even notice the currency that's being used when you swipe your credit card when making a purchase. The details such as whether the merchant gets USD, EUR, or GBP are abstracted away from you and all you care about is…

Well, 99%+ of my transactions are in USD When abroad, prices are listed in the local currency, and I have to do some mental math, but yes the transaction does currency conversion automatically, with a fee that is typically higher than I would have realized if I swapped beforehand. The point is, what currency will prices be listed in and do I have to jump through these mental hoops everywhere I buy things? Unlikely th…

Well worst case nothing changes and the prices are still listed in the same currencies they are today. But if crypto is even a little bit successful then perhaps the number of currencies used to display prices will reduce to a smaller number and make things simpler.

For the buyer they can use any currency they want transparently and for displaying prices things can only get better.

Re: SEC Doesn’t See Cryptocurrencies Lasting Long

#42
post #41

Earlier quoted context omitted.

Well, 99%+ of my transactions are in USD When abroad, prices are listed in the local currency, and I have to do some mental math, but yes the transaction does currency conversion automatically, with a fee that is typically higher than I would have realized if I swapped beforehand. The point is, what currency will prices be listed in and do I have to jump through these mental hoops everywhere I buy things? Unlikely th…

Well worst case nothing changes and the prices are still listed in the same currencies they are today. But if crypto is even a little bit successful then perhaps the number of currencies used to display prices will reduce to a smaller number and make things simpler. For the buyer they can use any currency they want transparently and for displaying prices things can only get better.

> Well worst case nothing changes and the prices are still listed in the same currencies they are today.

I would call this best case. There would need to be significant (likely unattainable) effort to change the standard. How many laws, signs, and code would need to be changed?

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