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Does Bitcoin's simple use case of a scarce digital commodity count? It's not that useful in the US/Western Europe but is genuinely useful in certain countries l
by tinkerrr 9y ago
Does Bitcoin's simple use case of a scarce digital commodity count? It's not that useful in the US/Western Europe but is genuinely useful in certain countries like Venezuela where inflation is in the triple-digit percent a year.
- hudon 9y agoA scarce commodity isn't new though right? People can buy gold online now and use that as a safe haven, for example. Why does it being a "digital" scarce commodity matter?
- rhino369 9y agoIs there actually a healthy bitcoin economy in the meatspace of Venezuela. Can you trade it for things? Can you buy milk with it? If not, it's really not much of a currency. If you are just looking to hedge against inflation, you can convert to any other currency or asset just as easily, if not more easily. I assume you can buy gold ETFs in Venezuela.
- marcosdumay 9y agoYou will certainly get much farther there with Brazilian Reals or Peruvian Pesos.