Comment on What if we’re thinking about “Fediverse funding” the wrong way? (Non-crypto idea)

• azdle@news.idlestate.org ⁨1⁩ ⁨day⁩ ago

  The coins themselves don’t have any monetary value. […] And then, the creators, etc. that you pay, would then be able to cash out those coins for real currency.

  The ability to ‘cash out’ means they do have monetary value.

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  • Teknevra@lemmy.world ⁨1⁩ ⁨day⁩ ago

    Then I guess that the term “Trade In” might be better.

    As I mentioned in the post, it’s similar to how Pachinko Rules work.

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    • Steve@communick.news ⁨1⁩ ⁨day⁩ ago

      Whatever the term, if the coins can be exchanged back into a real currency or goods, they have real value, and as such they’re as good cash.

      Wikipedia:

      Pachinko balls won from games cannot be exchanged directly for money in the parlor, nor can they be removed from the premises or exchanged with other parlors. However, they can be legally traded to the parlor for so-called “special prize” tokens (tokushu keihin (特殊景品) [ja]), which can in turn be “sold” for cash to a separate vendor off-premises.

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• rglullis@communick.news ⁨1⁩ ⁨day⁩ ago

  But again, why go through all this trouble instead of just sending money through a payment processor?

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