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> sending money internationally. The volatility of cryptocurrency prices alone makes them a pretty bad fit for any transaction whose value needs to be agreed u
by microtherion 5y ago
> sending money internationally.
The volatility of cryptocurrency prices alone makes them a pretty bad fit for any transaction whose value needs to be agreed upon within reasonable limits.
For stuff like blackmail, where profit margins are high and payments are highly negotiable, the benefits of anonymity outweigh this drawback, but for most honest business, it matters to a recipient whether they get $100k or $75k.
> economics taking a dive
And your bet is that when society collapses, the power grid and the internet will keep operating to keep cryptocurrencies cranking on. Not sure that is a safe bet.
- andruby 5y agoIt's not a hedge against society collapsing. In that case nothing will help, perhaps owning land to farm your own food (if you can protect it). The (tiny) investment I keep in crypto is a hedge when economies tank, or governments/central banks intervene. Eg, when bank withdrawals were frozen/slowed in Greece 2015, or when bank balances over 100K were seized in Cyprus 2013.