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For my understanding, is it possible this could actually be a decent thing for the rest of world? Not ideal, but an improvement? Or is the argument they should
by mNovak 6y ago
For my understanding, is it possible this could actually be a decent thing for the rest of world? Not ideal, but an improvement? Or is the argument they should just be using <cryptocurrency> ?
- bitxbitxbitcoin 6y agoIt's possible that it's a good thing for certain parts of the world as a non-volatile alternative to the domestic currency. However, with all centralized things - it'll be good up until the moment that it's not. Other commenters have mentioned the moral hazard that could occur if a region finds its economy priced on a corporate group's currency versus a country or country group's currency. I guess now the discussion goes back to would you rather trust <insert name of depostic country with history of ignoring certain rights> or <insert names of multinational corporations with history of ignoring other types of rights>. They should just be using a decentralized cryptocurrency like Bitcoin but there's myriad reasons why they wouldn't want to/be able to.