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I'm a dual citizen - my family lost their savings in Lebanon because of banking capital controls. That story is not unique to our generation or history more gen
by formalsystem 6y ago
I'm a dual citizen - my family lost their savings in Lebanon because of banking capital controls. That story is not unique to our generation or history more generally.
- ben_w 6y ago> That story is not unique to our generation or history more generally. Indeed, though I don’t see how BTC could help — it’ll just be one more currency you’re not able to convert local money into, surely?
- formalsystem 6y agoFor transactions yes you need local money for long term savings would rather hold Bitcoin or Lebanese Lira?
- ben_w 6y agoDepends on what you count as long term, but based on the 10-year graphs on WolframAlpha? I’d prefer Lira. It’s not that I don’t regret not putting £10,000 into BTC when it was worth $250/coin (I absolutely do!) it’s just that I expect that degree of variability to work in both directions.