5 ms·
Good government is a luxury many lack.
by lupire 4y ago
Good government is a luxury many lack.
- biohax2015 4y agoUSD is available to anyone
- A4ET8a8uTh0 4y agoWhat exactly do you mean by that, because if you do mean American dollar, I can point out multiple parties who simply cannot use US currency? Hell, I can point out to transactions that are prohibited if they even touch some type of activity and are in US dollars. In other words, could you elaborate?
- TremendousJudge 4y agoAsk any Argentinian
- whitepoplar 4y agoNope
- djbebs 4y agoIm sure the russians that just saw hundreds of billions of usd frozen would disagree.
- cooljacob204 4y agoAnd that's a fair point. But the problem is Crypto is an investment playground by people from rich countries and legitimate uses of it in countries like say Venezuela is an extremely small part of total transactions.
- devoutsalsa 4y agoThe US dollar is used for shady stuff all over the world, but we’re not trying to ban it.
- cooljacob204 4y agoYes but it's used by far for more legitimate stuff. I would argue crypto outside of investing is not. Also I don't want to ban crypto. I want to crack down on these exchanges which encouraged everyone to gamble on crypto and lost a ton of people money.
- aww_dang 4y agoThe market is cracking down on these exchanges by bankrupting them. I'd prefer a privately run auditing and voluntary accreditation model.
- danans 4y ago> The US dollar is used for shady stuff all over the world, but we’re not trying to ban it. That is because it is overwhelmingly used for standard non-shady stuff, like trading legal goods and services. Crypto can't make a similar claim.
- throwup 4y agohttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=3942181 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3942181 > For example, illegal transactions, scams and gambling together make up less than 3% of volume.
- sokoloff 4y agoWhat constitutes a "scam" in the that paper? That paper treats all USDT (Tether) transactions as "not scam". I think that remains to be proven and I don't think it's anywhere near certain.
- hellotomyrars 4y agoTether is arguably itself a scam based on their incredibly creative account and likely outright lies about the backing of Tether.
- pera 4y agoI'm from Argentina but live in the UK: in 2020 my mom needed an urgent oncological treatment and the only method I had to transfer the money was using a cryptocurrency. I really don't like to talk about this stuff but when people here in HN keep making arguments like "oh who needs this stuff, I can send money to my friends with the Monzo app" it really makes me feel like my problems as someone from the third world don't matter at all
- runarberg 4y agoI think most people here agree that it is unnecessarily hard and expensive to transfer money between countries. However cryptocurrency is a technological solution to a regulatory problem. This issue could be solved tomorrow by legislation if governments would cooperate and work to do so. All the efforts pushing cryptocurrency for this particular niche would be better served pushing for international standards for cheap and simple instant money transfers.
- ls15 4y ago> All the efforts pushing cryptocurrency for this particular niche would be better served pushing for international standards for cheap and simple instant money transfers. That seems impossible given today's geopolitics. Crypto remittance at least works.
- runarberg 4y agoMaybe that is true of transferring money between USA and Russia, or between USA and the EU, or the USA and any other country outside of Canada and Mexico, but there is no reason that the UK and Argentina don’t have a bilateral agreement in place that would make transferring money between the two countries quick, cheap, and easy.
- deleted 4y ago[deleted]
- Sargos 4y ago
- mr_woozy 4y ago
- TremendousJudge 4y agoAgree. For example, people who save in bitcoin or ether. They don't have any influence into how the system is managed.
- onion2k 4y agoIs there any crossover in a Venn diagram of "government is so bad you need crypto" and "government is good enough that they won't shut off the internet to control the people"? If there isn't then crypto isn't very useful in those places.
- notpushkin 4y agoIt is hard to shut off the Internet (or at least should be, if it is properly decentralized). Point in case: Russia. Government has been trying to block everything they don't like for some ten years now I think. Controlling all the uplinks from the country is just not feasible (although they're working on buying everything out I believe), so it was in fact easier for them to make all the ISPs install some blocking equipment themselves, which works pretty poorly. Many times they were successful, but they couldn't shut Telegram down for example. When TLS ECH is finally adopted it's basically game over for them.
- miohtama 4y agoIf you shut down Internet, your economy suffers. Even China cannot block Github, because it would harm their economy too much. Chinese developers need to access Github (PyPi, NPM), or they are not productive. The global software industry is built on the top of Western science that relies of on freedom of information. Thus, they need to let free information to flow against the authorianship will. https://en.wikipedia.org/wiki/Censorship_of_GitHub#China https://en.wikipedia.org/wiki/Censorship_of_GitHub#China
- notpushkin 4y agoThat's interesting! I thought China developers had npm / PyPI etc. mirrored so that they don't have to deal with the slowed worldwide versions. UPD: that said, I agree that the Chinese Firewall is about as far as you can shut off the Internet in a modern country (at least without turning into another North Korea).
- philippejara 4y agoMost governments that are so bad you need crypto are not that bad because of repression necessarily, but because of corruption or incompetence. Corruption or incompetence doesn't care enought to "shut down the internet" and if they do odds are a bad job will be done of it.
- 7speter 4y agoYet some people still want to drown their pretty good government in a tub.
- mxschumacher 4y agoand competition is healthy anyway, even for governments. That transfers of money in the US are relatively slow and relatively expensive is a technical issue for the FED to resolve; already a solved problem in the Eurozone.