111–120 of 143 posts
- The currency of my country is collapsing, I need to buy something which has a value unconnected to my country. - My country imposes export controls on foreign currency. I want to move my money out of my country. - I am unbanked and want to buy a good or service on the internet. - I do not trust the counterparty that I am dealing with on the internet. Using cryptocurrency means that my maximum loss is the vavlu of t…
> - I do not trust the counterparty that I am dealing with on the internet. Using cryptocurrency means that my maximum loss is the vavlu of the transaction (I don't have to give credit card or banking info) This is worse than if you use a credit (or debit in some places) card. With a credit card you have a legal protection and the card issuer has to refund you if the product or service isn’t delivered, it’s called a…
Earlier quoted context omitted.
> - I do not trust the counterparty that I am dealing with on the internet. Using cryptocurrency means that my maximum loss is the vavlu of the transaction (I don't have to give credit card or banking info) This is worse than if you use a credit (or debit in some places) card. With a credit card you have a legal protection and the card issuer has to refund you if the product or service isn’t delivered, it’s called a…
The worst case with credit cards is not lost money. It's identity theft. Give your credit card info to the wrong person and you'll end up dealing with tens of thousands of pounds of loans taken out in your name.
Problem of a coordination, google it
How on earth is cryptocurrency going to solve the Prisoner's Dilemma? I don't think the cops are gonna let you have access to anything that lets you fuck around with your crypto wallet while they've got you and your buddy in the interrogation room.
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Not to forget the hard core Libertarians and Anarcho-Capitalist... I seemingly remember them being quite a big crowd involved. And ofc the get rich people, as early adopters being trillionaires when whole world adopts bitcoin. While bitcoin also being good for the poor in future...
As an AnCap, I don't think BTC itself will help the cause much (its profits might). The government will just crack down on it eventually and the transparency of the blockchain will be used against you. We need a political solution, not a technical one. In my ideal society I would still have private banks and I would have a currency 100% backed by real goods. There just wouldn't be a government bailing out banks when…
When the world went off the gold standard they changed how their currency functions. The thing is, forex basically kept them in balance with each other. So instead of a gold standard it became a forex standard.
Countries still couldn't just print money, but they did.
Countries like Denmark, Germany, Finland, UAE, and some others who didn't... their inflation is under control. The relative wealth of their people is going to be that much higher.
Hungary is a great research point. https://tradingeconomics.com/hungary/central-bank-balance-sh...
They did print money in 2009 and didnt pay it back, now they did it again in 2020. Comparatively it's not as bad as other countries but opps 7.9%
https://tradingeconomics.com/hungary/inflation-cpi
and who did this? https://en.wikipedia.org/wiki/Fidesz A right-wing party who opposes globalization and I believe is fiscally conservative.
The polticians don't matter. The fundamentals of the currency matters post-gold standard. The politicians can and will1 print money but they cant get away with it for free.
That's where crypto comes in. It's not unlike buying Picassos or Hypercars. You are actively hedging your money against the politicians ability to print money and abuses by the financial system.
There's also a very obvious threat here. When countries can effectively no longer print money. Socialism dies again. Hence why communist countries effectively have crypto banned. China and Vietnam have explicit bans. Cuba and Best Korea don't have free access to the internet.
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How on earth is cryptocurrency going to solve the Prisoner's Dilemma? I don't think the cops are gonna let you have access to anything that lets you fuck around with your crypto wallet while they've got you and your buddy in the interrogation room.
I think, you missed the point and it's off topic what you say
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> seems pretty darn useful In societies so broken and unsolidaric that individuals have to fall back on such matters, maybe. Also very useful if you are a drug cartel, a shady bussines or similar — so people that totally won't do damage to the cohesion of society in historic experience.
> In societies so broken and unsolidaric that individuals have to fall back on such matters, The current divorce laws in most western societies pretty much match my description, especially the US. If in your world, those count as "broken and unsolidaric (sic)", then: sure dude.
So while I understand (and empathically feel) the circumstances leading to male divorcees in the US thinking this would be a good idea, I think there are easier solutions with much, much less side effects.
Or have people in the US given up on changing society via democratic means to such an degree they don't see a viable way to change such a simple thing like divorce laws?