“ They really aren’t. A currency is only worth anything if normal people are willing to trade them en masse. For the majority/normal people to trade them en Maße there needs to be an universally agreed upon use for them. A use that taxes give, since no matter who you are, you must pay your taxes in the state issued currency.
Crypto and other alt currency tokens are worthless by definition”
https://reddit.com/r/technology/s/TTK0bCHDDN
Don’t necessarily agree with it, but I get why someone would have that take.
If that were the case then a Euro would be worthless to Apple since they have to pay U.S. taxes in dollars. But they do sell iPhone in Euros because one currency can be converted into another.
Just like you can do with crypto.
If you can't sell coins to buy your local currency then one or the other is worthless. And probably it's the one that can be printed in unlimited amounts by the local government and not the one with ever-decreasing new coins.
They paid $16 billion in income tax in dollars, not Euros.
Not the best example since Apple make so much money they can cover their income taxes with domestic sales, but most international companies have to convert money from other currencies into their local currency in order to pay taxes and employees.
It doesn't matter if that other currency is Euro or crypto, neither can be used to pay their bills.
I didn't say either of those things.
You deceptively edited out the context. If you're converting currency into your local one, whether it's Euro or crypto doesn't matter.
You're arguing with things I didn't say and intentionally missing the point, which to reiterate is that as long as you can convert into your local currency then the idea that crypto is worthless "because taxes" is dumb.