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Crypto is easy to transfer and keep and has more lasting value in countries that are facing hyperinflation, often moreso than USD. This particularly applies to

Crypto is easy to transfer and keep and has more lasting value in countries that are facing hyperinflation, often moreso than USD. This particularly applies to Venezuela, which is exerting extra pressures and taxes in foreign currencies.

louwrentius 6y ago
So it's basically irrelevant for the USA and Europe. Then why is it such a hot topic on Hacker News? I have some ideas, but they are not kind.
- dmihal 6y ago
  Forget about the developing world. I'm an American living in Europe. My money is in the US banking system and in crypto. There's no easy way for me to "Venmo" money to my friends here, I'd have to use an international bank transfer which would take over a week and cost high fees. But with my friends in crypto: I can just transfer them Dai. It takes about 15 seconds and costs less than a dollar (and will get cheaper with things like Eth2)
  - mrlala 6y ago
    And what about the costs of then converting eth for each person to a useable currency? What if you were to make a mistake and send money to the wrong person? What if someone hacks into whereever you are storing your eth and you lose them? I mean I get what you are saying, but you just leave out all the pesky little details which at the end of the day are very important and why there are costs associated to banking.
    - deleted 6y ago
      [deleted]
- AnIdiotOnTheNet 6y ago
  - I imagine that some HN users are not from USA or Europe. - A lot of them are very into get-rich-quick-by-"disruption". - A lot of them are complexity fetishists.
- newswasboring 6y ago
  > So it's basically irrelevant for the USA and Europe. Then why is it such a hot topic on Hacker News? This is just plain racist. HN is not just for US and Europe people.
firekvz 6y ago
Venezuelan here, to scape from inflation I buy USD. I dont need anything else other than that green bill or a zelle transfer. Bitcoin is pretty much useless in venezuela and the few people who uses it, also uses it to buy "cheaper" currency exchange of VES/USD since its literally just a bunch of corrupts and drugdealers trying to wash their USD so you usually get more VES per 1USD/BTC than per 1 USD PS: bitcoin holder since 2014, so im not here with anti crypto propaganda PS2: i find it weird that noone here talks about USDT

louwrentius 6y ago

So it's basically irrelevant for the USA and Europe. Then why is it such a hot topic on Hacker News? I have some ideas, but they are not kind.

dmihal 6y ago
Forget about the developing world. I'm an American living in Europe. My money is in the US banking system and in crypto. There's no easy way for me to "Venmo" money to my friends here, I'd have to use an international bank transfer which would take over a week and cost high fees. But with my friends in crypto: I can just transfer them Dai. It takes about 15 seconds and costs less than a dollar (and will get cheaper with things like Eth2)
- mrlala 6y ago
  And what about the costs of then converting eth for each person to a useable currency? What if you were to make a mistake and send money to the wrong person? What if someone hacks into whereever you are storing your eth and you lose them? I mean I get what you are saying, but you just leave out all the pesky little details which at the end of the day are very important and why there are costs associated to banking.
  - deleted 6y ago
    [deleted]
AnIdiotOnTheNet 6y ago
- I imagine that some HN users are not from USA or Europe. - A lot of them are very into get-rich-quick-by-"disruption". - A lot of them are complexity fetishists.
newswasboring 6y ago
> So it's basically irrelevant for the USA and Europe. Then why is it such a hot topic on Hacker News? This is just plain racist. HN is not just for US and Europe people.

firekvz 6y ago

Venezuelan here, to scape from inflation I buy USD. I dont need anything else other than that green bill or a zelle transfer. Bitcoin is pretty much useless in venezuela and the few people who uses it, also uses it to buy "cheaper" currency exchange of VES/USD since its literally just a bunch of corrupts and drugdealers trying to wash their USD so you usually get more VES per 1USD/BTC than per 1 USD PS: bitcoin holder since 2014, so im not here with anti crypto propaganda PS2: i find it weird that noone here talks about USDT