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> The properties of it being difficult/impossible to confiscate and its privacy make it valuable in oppressive regimes. A refugee could store their wealth in Bi
by markdown 5y ago
> The properties of it being difficult/impossible to confiscate and its privacy make it valuable in oppressive regimes. A refugee could store their wealth in Bitcoin, leave their country, settle somewhere else, and access their Bitcoin without the risk of it being confiscated during the journey, because they can simply memorise the seed phrase (24 words).
LOL, who in those countries would sell them bitcoin?
You've pulled out an argument I see all the time about the utility of bitcoin, but you can always just tell that it's made by someone who's never lived under an oppressive regime.
It's a first-worlders idea of what thirdworlders can do.
- glenvdb 5y agoAlex Gladstein has written about this at length. He works for the Human Rights Foundation and advocates Bitcoin for its humanitarian use cases. He has spoken to many people in these types of countries to get their take on it. See for yourself... https://bitcoinmagazine.com/authors/alexgladstein https://bitcoinmagazine.com/authors/alexgladstein
- markdown 5y agoI live in one of those countries. Nobody will accept my currency in exchange for bitcoin. I can't send money offshore to buy bitcoin. I mean, just ask the Chinese how easy it is to get bitcoin today. The billionaires, millionaires, and political elite can get their hands on bitcoin sure no matter where in the world they are, but not the common man (the actual oppressed in those regimes). Unlike Alex, I don't have a conflict of interest.