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Incorrect: so-called cryptocurrencies are actually virtual gold, with all of its characteristics (including being able to buy stuff with it from willing sellers) except that, being immaterial, that cryptostuff can't be used to fabricate any material object. To acquire it other than by accepting it as payment, it must be bought or 'mined'. The blockchain technology does allow anonymous transactions (and in that way, like cash) at a distance.

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Stephen Yearwood
Stephen Yearwood

Written by Stephen Yearwood

M.A. in political economy (money/distributive justice) "Please don't confront me with my failures/ I'm aware of them" from "These Days," as sung by Gregg Allman

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