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The price of crypto isn’t the same in every jurisdiction due to restrictions on capital flows. If the price of crypto is lower in a jurisdiction, then crypto ge
by injeolmi_love 3y ago
The price of crypto isn’t the same in every jurisdiction due to restrictions on capital flows. If the price of crypto is lower in a jurisdiction, then crypto generating activities such as mining or freelancing become more profitable. If the price is higher inside the jurisdiction, then smugglers are incentivized to sell goods for crypto. These activities will find a balance within the jurisdiction.
I don’t know enough about the Gaza crypto market to know which state it’s in. But generally, if people are desperate they will try to earn crypto online, and if smugglers can’t get cash out they’ll prefer crypto.
- phone8675309 3y agoAh yes, the crypto miners in Gaza where not even hospitals can get a steady supply of fuel and electricity. Crypto nerds are completely detached from reality.
- petertodd 3y agoWhile I mostly agree with you, note that Gaza does have an large amount of rooftop solar, which theoretically could be used to mine crypto. Mining Bitcoin with expensive imported fuel doesn't make much sense. Anyway, far more money is sent to Gaza, and Hamas, in the form of Western aid from governments. Stopping the flow and misuse of that money is far more important than crypto.