81–84 of 84 posts
Argentina may have serious monetary problems, but does the USD? Do we really need financial innovation to move at the "pace of programmers?" Is "bitcoin" really money when you can't use it to buy anything without converting it to money first?
Not only is it nearly impossible to use anywhere... but a huge component of BTC's mythology is making fun of someone who ACTUALLY spent it as money (Bitcoin Pizza)
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No. If you're happy with USD, then use USD. If you are Argentinian (or Venezuelan, or Iraqi, or Zimbabwean) and your currency is getting devalued to nothing and the government is restricting access to your funds and preventing you from holding USD, then Bitcoin or Stablecoins are a pretty good option. The attitude I see a lot (mostly by Americans and Western Europeans) is that "Crypto is not useful to me, therefor it…
> and the government is restricting access to your funds and preventing you from holding USD, then Bitcoin or Stablecoins are a pretty good option. If your government is going as far to prevent you to own USD, they aren't going to view cryptocurrencies any more favorably anyways.
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Exactly, but the value proposition of crypto is that it's *very* difficult to disrupt. See Nigeria for a current example of a national government trying and failing to get its population to give up on crypto.
It's even easier to disrupt than dollars, at least exchanging dollars as cash is popular whereas cryptocurrencies rely predominantly on exchanges and bank transfers.
Instead of dollar bills for peso bills you exchange a crypto transaction for peso bills.
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There is a multitude of governments involved in Bitcoin with different incentives and strategies. If you claim "The government can do X to Bitcoin" you should explain which government(s) and how exactly that would work. When was the FED a "democratically elected government", by the way?
Any nation's legislature, if threatened with loss of control of the nation's money, would immediately make it illegal to use any tender not sanctioned by that state. A vast amount of the state's historical policing was aimed largely at preventing alternative currencies from forming (consider, e.g., Isaac Newton's role at the Royal Mint). They will put you in jail; withdraw your business licence and suspend your limit…