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Cryptocurrencies by virtue of being digital money accessible anywhere in the world and not manipulatable by central banks can do a ton of good in countries that
by kenneth 5y ago
Cryptocurrencies by virtue of being digital money accessible anywhere in the world and not manipulatable by central banks can do a ton of good in countries that are experiencing currency mismanagement. It was particularly popular in Argentina, and right now Lebanon is experiencing hyperinflation as well.
Controversial opinion — but I'm of the mind that the world is about to experience massive inflation due to the horrifying Covid response of massively expanding the money supply, so we might be able to see even more of a need worldwide.
- arcticbull 5y agoThing is though it’s not being used in those cases even though it’s available because of fundamental limitations. Concretely over the last few years a full 66% of all transactions in Venezuela are now conducted in USD. The USD is simply a far superior currency along every metric. Stable, fungible, cheap, internationally accepted.