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As I understand it, people in the developing world with high inflation are putting their money into crypto. Also, people with money to invest put it in crypto (
by kreetx 5y ago
As I understand it, people in the developing world with high inflation are putting their money into crypto. Also, people with money to invest put it in crypto (both the "very rich", but also regular slightly more technical or otherwise inclined folk). Both of these aren't day to day transactions though.
- nomdep 5y agoTo escape inflation you buy dollars or even gold ingots, as always. Crypto is just a risky investment for that people, not savings.
- kreetx 5y agoIf the environment is unstable in some developing country, dollars and gold are inconvenient to hold, while crypto is both easy to own, easy to /really/ own and also fast to transfer. Risky, well I guess - especially in the short term. But long term it appears to have done very well.