this post was submitted on 09 Jul 2024
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What makes a currency "real"?
There's one two guarantees in life: Death and taxes. Real currencies are the ones you can use to pay the latter.
If you live in El Salvador you can pay your taxes in bitcoin... that makes it a "real currency" according to your test.
Won't last for long because deflation is built into bitcoin and every sane state matches monetary supply to economical output to keep prices stable. El Salvador isn't doing that anyway, though, otherwise using USD, or getting many tax payments in bitcoin, the thing being about as liquid as asphalt, so it doesn't really change much.
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