3 ms·
You can already send money from US to Venezuela using Moneygram and several other services cheaply. There are relatively few countries where sanctions prohibit
by jasonlaramburu 6y ago
You can already send money from US to Venezuela using Moneygram and several other services cheaply. There are relatively few countries where sanctions prohibit Americans from sending money, and cryptocurrency would not make this legal.
- lawn 6y agoYou cannot send USD to Venezuela, only Bolivars, which isn't so good as hyperinflation will kill most of the value instantly. One of the point of cryptocurrencies is that some countries may think certain things are illegal, but that doesn't make them wrong. To me helping to feed starving Venezuelans by sending them help directly is morally right, even if it was illegal.
- jasonlaramburu 6y agoI agree that the hyperinflation in VZ is a problem, but is that solved by Crypto? BTC's prices is highly volatile as well. In a bear market, there can be significant price slippage even while the recipient is waiting for a BTC transaction to confirm.
- lawn 6y agoHighly volatile, absolutely. Yet it's nothing compared to hyperinflation. In May 2019 prices in Venezuela doubled in only two days... every day. While Bitcoin is volatile it's relatively stable compared to what Venezuela and Lebanon are going through today.