The newest crypto innovation: physical cash

[Lobster Roll]

As we all know, the growing trend in paying for goods & services is moving away from digital payments and using cash payments, right? And what better way to get out ahead of that trend than by creating a physical version of speculative currencies?

Introducing ... physical cash. As the cryptoverse has been wracking its collective mind for years to find a question to the answer that is cryptocurrency, they've finally cracked the code and found the answer. Physical cash. Despite the invention of the credit card in the 1950s, the glorious minds of crypto bros have provided us not a step backwards, but a step forward, into ...

Physical. Cash.

 

[Swiggins]

Counterfeiting, the coolest of crimes.

 

[Hasseigaku]

In round 1000 of Libertarians creating things that already exist

 

[napkins]

so happens if the value of bitcoin changes while the transaction is still happening?

 

[Tabaxi]

 

[BLEEN]

Rather use monopoly money.

 

[HStallion]

It's like Dr. Stone but incredibly cynical and scummy

 

[Z-Beat]

This reminds me of that episode of recess where they got rid of recess then in trying to replace it, reinvented recess

 

[Azzazel]

 

[Alavard]

Sure, but how many apes can it slurp?

 

[Watchtower]

It's like Dr. Stone but incredibly cynical and scummy

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Ryusui is like the absolute ideal of ancap libertarianism as a force for good. These fucks ain't worth licking his boots.

 

[AIan]

Did they really think there would be interest in this ffs

 

[impingu1984]

Sure, but how many apes can it slurp?

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Lotta yall don't get it... Something something crypto.... Something something physical crypto.. and some nonsense... Slurp juices and apes etc

 

[Damaniel]

Funny how such a 'decentralized' system keeps on having to re-invent the existing centralized system. As if you need more proof that cryptocurrency adds no value that the existing financial system can't already provide.

 

[SwampBastard]

"I was really hungry and I wanted a personal chef, but I couldn't afford one, so I had this idea that I'd start a business that's like a timeshare thing for personal chefs where a bunch of people pool their money and you just use a personal chef when you need one. I was really excited, and then I realized that I had just invented the restaurant."
-Dan Mintz

 

[onadesertedisland]

Isn't it exhausting trying to find a new way to spin the same scam?

 

[Lkr]

Isn't it exhausting trying to find a new way to spin the same scam?

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you don't want to hold cash in a self-sovereign way???

also, the irony that cash usage is kinda dying in general lol

 

[Paroni]

Funny how such a 'decentralized' system keeps on having to re-invent the existing centralized system. As if you need more proof that cryptocurrency adds no value that the existing financial system can't already provide.

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Blockchain in general is all about trying to invent problems it could solve.

 

[LazyLain]

Can we mine it with our printers?

 

[imbarkus]

"Self-sovereign" **barf**

 

[PeskyToaster]

It's pretty much classic Silicon Valley to think you're so far ahead of the world but have really only recreated what we've already been doing for a hundred (thousands of?) years only more expensive, worse, and with less features.

 

[lokiduck]

Reminds me of the Soviet Era written short story about a man trying to destroy bureaucracy via... making more bureaucracy.

 

[pink]

Can we mine it with our printers?

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lmfaoooooo

 

[Master Milk]

Isn't it exhausting trying to find a new way to spin the same scam?

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when you're making money from it? probably not

 

[Thrill_house]

Paddy's bucks. These dumb motherfuckers LMAO

 

[MikeHattsu]

Ya forgot the best part. It's physical cash that somehow expire:

 

[jman2050]

 

[Transistor]

Ya forgot the best part. It's physical cash that somehow expire:

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Holy shit I legit just spit 7up all over my monitor because of this.

God damnit, the absolute stupidity here.

 

[WedgeX]

How long under they invent a centralized authority, headed by a board of let's call them "governors," to make sure there are enough physical coins in circulation and to prop up let's call them "not-banks" when the physical coins are, let's say, "withdrawn" but before new physical coins are deposited or perhaps "minted"?

They can call it the Central Stockpile Committee.

 

[El Bombastico]

...Okay, correct me if I'm wrong, but I thought the entire FUCKING POINT of Crypto was so that you did NOT have to use any physical currency?

 

[Dark Knight]

crypto bros be like: "how can we waste even more resources on this bullshit?"

 

[Graven]

Reminds me of this.

 

[Necron]

Centralised but decentralised physical slurp "currency".

 

[imbarkus]

 

[UnpopularBlargh]

It's even worse than the OP puts it.



All any crypto bro's talking about is how easy it'll be to HODL with these bills. So no one will actually use the cash for transactions and stick with traditional currency. Which makes this all moot.

And you need an app to use this cash? What is the point of this?

 

[Kasey]

100 bill is gonna have hitler's face on it

 

[PeakPointMatrix]

Sure, but how many apes can it slurp?

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I hate that I understood this.

 

[MikeHattsu]

And you need an app to use this cash?

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You'd want to check that them bills ain't expired yet I guess :p

 

[Tavernade]

So if I'm understanding this right, they've created something that in ten years will be worth more than the money it represents due to its novelty status, but it will still be worth less than Beanie Babies and Pogs?

 

[Strike]

Isn't it exhausting trying to find a new way to spin the same scam?

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As long as they're only scamming each other, I see no problem with it.

 

[Lobster Roll]

Ya forgot the best part. It's physical cash that somehow expire:

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Imagine handing a $20 bill to the cashier and he scans the QR code on it and says, "ah, sorry bud, that one's no good anymore".

 

[Mukrab]

The newest cash innovation: crypto

Central Bank Digital Currency (CBDC)

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

 

[The Albatross]

As long as they're only scamming each other, I see no problem with it.

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Pyramid schemes always need fresh meat at the bottom of the pyramid.

NFT traders will buy up their own or each others NFTs to boost the price, but at the end of the day there's got to be an exit for that and someone is left holding the bag.

 

[everybody_lies]

I hate that I understood this.

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I only understood half so I'm kind of just confused and sad.

 

[War95]

Ya forgot the best part. It's physical cash that somehow expire:

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This people are for absolute real? They just to be gaslighting an entire economy

 

[Razmos]

So from what I understand they are converting their digital pretend money into physical pretend money. Not to actually spend it or use it for transactions but to just hold on to it, physically. And you prove its yours through an app?