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> at some point a person has to convert a Bolivar to a Bitcoin and back But most transactions can be done without Bolivars. > And a dictator can make most of

> at some point a person has to convert a Bolivar to a Bitcoin and back But most transactions can be done without Bolivars. > And a dictator can make most of those conversions illegal, if he so chooses. Dollar conversions in Venezuela (at black market rates) are already illegal, yet they exist. How did Brazil fix its inflationary spiral, and how does this invalidate Venezuelans using cryptocurrency due to an intransigent government?

bb88 8y ago
Edited to add: This quote below changed while I was replying. More goalpost moving. > But not all transactions require Bolivars. That is the point. Only if everyone agrees to not use the Bolivar anymore and say something that everyone has readily access to that can't be counterfeited. At which point you say, "BITCOIN IS THE ANSWER", except it's not because Bitcoin is not easy to obtain. It requires some technical skill, a bank that allows you to make bitcoin transactions, etc. And even if most transactions no longer require the Bolivar, then using Bitcoin at all is mostly a moot point. > Dollar conversions in Venezuela (at black market rates) are already illegal, yet they exist. I don’t see your point. Right, and so if you want to not be thrown in prison you're going to use the Bolivar and not US Currency. The same would be true with Bitcoin if Bitcoin were made illegal.
- antidesitter 8y ago
  > Edited to add: This quote below changed while I was replying. More goalpost moving. Can you explain how editing "not all transactions require Bolivars" to "most transactions can be done without Bolivars" is goalpost moving? > Only if everyone agrees to not use the Bolivar anymore Not true. People can use the Bolivar for some transactions and not others. > It requires... a bank that allows you to make bitcoin transactions What do you mean? > Right, and so if you want to not be thrown in prison you're going to use the Bolivar and not US Currency. Not true. Many Venezuelans don't want to be thrown in prison and use US currency, because it's a matter of survival. > The same would be true with Bitcoin if Bitcoin were made illegal. What would be true if Bitcoin were made illegal? And where?

bb88 8y ago

Edited to add: This quote below changed while I was replying. More goalpost moving. > But not all transactions require Bolivars. That is the point. Only if everyone agrees to not use the Bolivar anymore and say something that everyone has readily access to that can't be counterfeited. At which point you say, "BITCOIN IS THE ANSWER", except it's not because Bitcoin is not easy to obtain. It requires some technical skill, a bank that allows you to make bitcoin transactions, etc. And even if most transactions no longer require the Bolivar, then using Bitcoin at all is mostly a moot point. > Dollar conversions in Venezuela (at black market rates) are already illegal, yet they exist. I don’t see your point. Right, and so if you want to not be thrown in prison you're going to use the Bolivar and not US Currency. The same would be true with Bitcoin if Bitcoin were made illegal.

antidesitter 8y ago
> Edited to add: This quote below changed while I was replying. More goalpost moving. Can you explain how editing "not all transactions require Bolivars" to "most transactions can be done without Bolivars" is goalpost moving? > Only if everyone agrees to not use the Bolivar anymore Not true. People can use the Bolivar for some transactions and not others. > It requires... a bank that allows you to make bitcoin transactions What do you mean? > Right, and so if you want to not be thrown in prison you're going to use the Bolivar and not US Currency. Not true. Many Venezuelans don't want to be thrown in prison and use US currency, because it's a matter of survival. > The same would be true with Bitcoin if Bitcoin were made illegal. What would be true if Bitcoin were made illegal? And where?