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> 2) no one spends BTC I'm awfully tired of these completely misinformed blog posts that seem to reflect HN's collective delusion about bitcoin. I don't know a
by golergka 4y ago
> 2) no one spends BTC
I'm awfully tired of these completely misinformed blog posts that seem to reflect HN's collective delusion about bitcoin. I don't know about US, but the whole drug trade, from the largest transactions to street level, have transitioned to crypto in Eastern Europe and at least few Middle Eastern countries. More and more of my friends who have never been interested in crypto as a ponzi scheme are using USDT to send and receive money across borders as their banks are hit with sanctions.
If you don't see something, it doesn't mean that it doesn't exist.
- bendtheblock 4y agoauthor here - ok was an exaggeration. what I mean is most folks are in it for pure speculation
- iskander 4y agoThe core financial infrastructure, like DAI and Curve, is weirdly robust: it's already been through quite a few crashes that would probably wipe out traditional financial plumbing. So, at the very least, keeping stablecoins on Curve and AAVE is a way to hedge against other kinds of systemic risks to the financial sector. This feels a little crazy in the US (where we don't anticipate systemic collapse) but less so in many other countries.