[quote=“Lisfin, post:4972, topic:27353, full:true”]
If Zcash is not money, what the hell is it then?[/quote]
It’s an digital asset, at least in its current state. You can’t do with it what you can do with money, for example directly paying a debt, paying taxes, whatever…
If I send EUROs and convert it to USD on a exchange, that is money.
If i send Zcash and convert it to USD on a exchange how is that different?
It’s different, especially in your example as you said you send it with privacy. As soon as you convert it to USD your privacy is gone. You said that you can send 1M $ “Completely anonymous” and i’am saying that as soon as Zcash gets converted into USD it’s not more anonymous.
When I use my credit card, I dont send money, I just send numbers. Im not using money by your logic.
You use money by my logic, your credit card is attached to your banking acount that holds USD. You should compare a credit card with a banking account or wallet, not with money. Pretty unfair to put that into my logic and mouth…
Its different from fiat, because you cant just send $1M overseas without a bank. You cant just send fiat to anyone at anytime. You have to use a bank and im not gonna start on the problems sending money over seas.
No, you don’t send 1M$, you send something that eventually is worth $1M, it’s not the same, hence it’s not money as long as it’s Zcash. It could have been money bevor you send it or after you receive it when convertet to Fiat, but until that it was just a digital asset, not money.
If I had a million worth of Zec living in China right now today, I could easily send it to anyone with a wallet anywhere in the world almost instantly with almost zero fees. That is not the same problem as cash.
Totally agree with it that it’s more comfortable, avoids several problems and it’s cheaper. But this does not make it money. And i never said it’s bad to use ZEC or whatever, so i have no idea where this argument comes from?!
The recipient can use the Zcash as they see fit, like using regional exchanges to convert to local currency or use it at some of the few stores that do accept it as MONEY. DONE, money moved from China to wherever with zero chinese oversight. Try doing that with cash.
Actuallty no in my opinion. As soon as you use an exchange it’s just a digital asset converted into money. If a given store accepts a digital asset that’s fine, but doesn’t make it money again. It’s more a swap/barter/ btw. an asset and an item. And as said allready, i’am talking about it’s current state, i’am all for it becomes some day money!!!
What am I sending then? What is a privacy coin then, if not a medium of exchange, AKA money. Why is it called a cryptoCURRENCY. Why is it called ZCASH. Your seriously trying to argue that Zcash is not a form of currency?
It works as a medium of exchange, doesn’t mean it IS a medium of exchange. And currency is not the same as money by the way. And you can call whatever crypto whatever someone decides, meaning if some group calls their crypto “Federal Coin” doesn make it federal at all. Namegiving isn’t an argument.
Uppps, and no, i’am arguing that Zcash is NOT money, easy as that. It’s an digital asset designed to work as a medium of exchange. I’am fine with crypto currency, digital asset, digital currency, alternative currency, but not money.
Come on now boxalex, you say some crazy stuff in these threads but seriously, do you belive yourself when you say this stuff?
Actually yes and it makes sense and again, i said in it’s current state, i’am all for that this changes some day and replaces money, but currently at this time we are talking about digital assets and not money when we talk about Zcash…