4 ms·
The US dollar is pretty much the de facto currency of places where the official currency is unstable/distrusted. Places like El Salvador made a big deal of adop
by jhbadger 4y ago
The US dollar is pretty much the de facto currency of places where the official currency is unstable/distrusted. Places like El Salvador made a big deal of adopting Bitcoin, but it was mostly smoke and mirrors.
- baryphonic 4y agoFair enough, but I didn't mention El Salvador. Moving dollars in and out of authoritarian or war-torn countries isn't trivial. That's why I mentioned Venezuela and Ukraine.[0] Russia itself also has a significant crypto economy. None of this is to say there isn't demand for dollars in those places, just that supply of dollars is not exactly abundant. Thus, they go to crypto. That's the argument. [0] https://www.elliptic.co/blog/live-updates-millions-in-crypto-crowdfunded-for-the-ukrainian-military https://www.elliptic.co/blog/live-updates-millions-in-crypto...