There was a great article in a financial publication a few years ago about what had emerged as a new “currency” in the U.S. drug trade: laundry detergent. Apparently it had become an attractive alternative to cash for drug traffickers in urban areas for a whole bunch of reasons:
1. It is a common household product that is widely used.
2. It is legal to buy and sell it — and can be bought and sold even in bodegas in the worst neighborhoods.
3. It has a value relative to its weight that makes it more valuable than most other common household products.
4. It is easily transported — and without attracting any attention from law enforcement.
5. It can be bought by end users with almost any form of payment — cash, credit/debit cards, EBT cards, barter, etc. This means it is easily convertible to another medium of exchange, and has an underlying value that isn’t tied to what we think of as “money.”
Okay. What are you going to buy laundry detergent with, if not cash?
I’m thinking your digital currency will not allow massive purchases.
Oh you’ll be able to buy a bit with cash. For a little while.
I say the digital currency will limit you on how much you can buy or sell of anything - under the guise of “hoarding”
But I admit that’s just a guess for now
But I had no idea they were doing this, so new information, thanks
An habitual OD’er at our local supermarket said this: He buys groceries with his SNAP benefits, gives the goods to his dealer, he gets his smack and shoots up in the Supermarket Men’s room “because the light is good in there...”
That’s where we are, folks.