4 ms·
> there is nothing like the USD in terms of function. This might have been true 10 years ago but that's not the case today. I was in Chengdu last week and I pa
by csomar 2y ago
> there is nothing like the USD in terms of function.
This might have been true 10 years ago but that's not the case today. I was in Chengdu last week and I paid at a store market with a TnG wallet using Malaysia MYR. Sure this is only South East Asia, but many countries now have their own ewallet thing and they can be ready in a short time to move.
- lores 2y ago"Only SE Asia" is you being modest here, SE Asia to Chengdu is like a quarter of all humans!
- audunw 2y agoHow is that relevant? Countries don’t hold reserves in e-wallets. You don’t get a business loan in an e-wallet. What you pay with as a consumer has nothing to do with the dollars reserve currency status. One of the most important aspects of the dollars role is the “Eurodollar”, and how debt can be issued by international banks. There is no alternative to the dollar in that regard.
- 01100011 2y agoThis is why it's best to avoid discussing economics on hackernews :D
- IAmBroom 2y ago"Sure, the US has the largest GDP that's ever existed, but look at this cool SnapChat meme I can use to pay for street vendor trinkets from my smart ring! China is way ahead in those!"