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Hopefully they will be accepted by other individuals, where credit cards are not working and the national currency is in freefall.
by danuker 5y ago
Hopefully they will be accepted by other individuals, where credit cards are not working and the national currency is in freefall.
- kragen 5y agoIt looks like maybe the hryvnia has lost 5% of its value over the last year (and 12% over the last three months)? The bigger issue is that it's likely that Russia will overthrow its government before April (50% probability) and after that it's anybody's guess what the new regime will do with the hryvnia. https://tradingeconomics.com/ukraine/currency https://tradingeconomics.com/ukraine/currency says 29.7 hryvnia to the dollar at the moment. I mean, I'm not saying cryptocurrency is a bad idea, but the hryvnia doesn't seem as totally pointless as you suggest.
- kragen 5y agoAccording to https://www.cnbc.com/2022/02/24/ukranian-bank-suspends-e-cash-transfers-bolstering-crypto-use-case.html https://www.cnbc.com/2022/02/24/ukranian-bank-suspends-e-cas... foreign exchange in Ukraine is mostly suspended though, and already was when I made my comment above, so the price in markets that are still open won't reflect what you see on the ground in Ukraine; the Tether price cited (32 hryvnia) suggests an additional 9% loss since yesterday, which does qualify as "free fall" if it continues.