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"If you were in Venezuela and everywhere accepted bitcoin, would you rather have bitcoin or Venezuelan bolivars?" If Bitcoin were the de-facto currency of Vene
by jomamaxx 10y ago
"If you were in Venezuela and everywhere accepted bitcoin, would you rather have bitcoin or Venezuelan bolivars?"
If Bitcoin were the de-facto currency of Venezuela, sure bitcoins would make sense. But it's not, so it doesn't.
Moreover, there is no reason for anyone in Venezuela to use Bitcoin when they can much more easily and rationally use USD.
Like I say - the rational alternative for a bad currency is a strong currency of a nearby entity. In Venezuela, the default 'hard currency' is dollars. In Algeria it's Euros.
- CyberDildonics 10y agoThey can't get USD because of capital controls, why else do you think they can't get food?