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>This is a very welcome counterpoint The article contains no real information, in fact can't even support its own title because apparently stablecoins are more

>This is a very welcome counterpoint The article contains no real information, in fact can't even support its own title because apparently stablecoins are more attractive to those living in high inflation environments than Bitcoin. The reader is left with no more information about "The Meaning of Bitcoin" than they entered with. No attempt is made to inform the reader about how cryptocurrency solves inflation or any of the other proposed issues with centrally-controlled currencies, besides reminding the reader that "stablecoins" exist. Well "stable" is in the name so it must be true, right? End article.

abetusk 2y ago
From the article: > In December 2001, Argentine President Fernando de la Rua imposed an ATM withdrawal limit of $250 per week. > I sometimes read from people in developed countries, offended by bitcoin’s carbon emissions or by the huge amount of scams in the crypto space. ... To really get crypto, you have to have been fucked by some third party with power over your money. Be it a government, a bank, a business, or an ex-employer, it will come.
- floundy 2y ago
  Okay, and next month the Argentine president could impose a withdrawal limit or complete block on accessing crypto exchanges (which most people will be unable to circumvent), apply strict individual and business criminal penalties on bypassing these and trading crypto P2P, and even set up honeypots to arrest those trying to trade and cash out crypto in-person. The idea that an overreaching authoritarian government will just sit there scratching their heads and admit defeat to a decentralized database if they truly perceived crypto as a threat is hilarious.
  - Finneyfamily 2y ago
    Yes, but the hope that an alternative exists should be celebrated. And not only in weak democratic countries. See also: https://world.hey.com/dhh/i-was-wrong-we-need-crypto-587ccb03 https://world.hey.com/dhh/i-was-wrong-we-need-crypto-587ccb0... for a strong case of why it's important for universal human rights.

abetusk 2y ago

From the article: > In December 2001, Argentine President Fernando de la Rua imposed an ATM withdrawal limit of $250 per week. > I sometimes read from people in developed countries, offended by bitcoin’s carbon emissions or by the huge amount of scams in the crypto space. ... To really get crypto, you have to have been fucked by some third party with power over your money. Be it a government, a bank, a business, or an ex-employer, it will come.

floundy 2y ago
Okay, and next month the Argentine president could impose a withdrawal limit or complete block on accessing crypto exchanges (which most people will be unable to circumvent), apply strict individual and business criminal penalties on bypassing these and trading crypto P2P, and even set up honeypots to arrest those trying to trade and cash out crypto in-person. The idea that an overreaching authoritarian government will just sit there scratching their heads and admit defeat to a decentralized database if they truly perceived crypto as a threat is hilarious.
- Finneyfamily 2y ago
  Yes, but the hope that an alternative exists should be celebrated. And not only in weak democratic countries. See also: https://world.hey.com/dhh/i-was-wrong-we-need-crypto-587ccb03 https://world.hey.com/dhh/i-was-wrong-we-need-crypto-587ccb0... for a strong case of why it's important for universal human rights.