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Why is this better, or different, than just helping Venezuelans obtain and use the USD that they already want [1]? If it's a matter of government controls, the
by arcticfox 9y ago
Why is this better, or different, than just helping Venezuelans obtain and use the USD that they already want [1]? If it's a matter of government controls, the government will surely apply the same policy to BTC.
I realize that he tried to address this in the article, but the reasons are contrived. And the "$5 wrench attack" simply won't stop when you only give up one wallet.
[1] https://www.npr.org/sections/parallels/2014/03/24/293874845/short-on-dollars-venezuela-tries-to-halt-black-market-trading https://www.npr.org/sections/parallels/2014/03/24/293874845/...
- freejulian 9y agoHow are they going to securely store those USD?
- adventured 9y agoYou're getting into the same exact box with Bitcoin. You're not going to securely store anything in Venezuela until order and a functioning government system is restored. Venezuela is an entirely collapsed nation at this point. You're lucky to have any access to electricity to use Bitcoin and things are still getting worse there. Safely store your Bitcoin. Gun to the head, you lose your Bitcoin and your life if you don't give up whatever access is needed. You store your USD in your home (or wherever). Gun to the head, you lose your dollars and your life if you don't give it up. Plausibly given the extreme murder going on there, you lose your life regardless if it becomes known you have any money, whether it's in USD or Bitcoin.
- charlesdm 9y ago> You're not going to securely store anything in Venezuela until order and a functioning government system is restored. Better not hold your breath for that one..
- freejulian 9y agoTo each their own I guess. There's numerous reasons I'd feel safer with my savings in Bitcoin.