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> good for the downtrodden and underprivileged members of corrupt countries such as Nigeria, Venezuela, Lebanon, and Turkey, who have suffered their own currenc
by MangoToupe 1y ago
> good for the downtrodden and underprivileged members of corrupt countries such as Nigeria, Venezuela, Lebanon, and Turkey, who have suffered their own currency crises to the great detriment of their citizens.
Well, except that it ties them to USD, an ultimately doomed currency. The short-term interests are aligned, but they'd be better off with a locally-managed currency and simply banning the USD from being held by either the state or any of its representatives.
- delabay 1y ago"Better off with a locally managed currency" wow, please research the counties I mentioned for five minutes. It's a luxury opinion to view the USD as trash. It means you have options. USD is the best many people in the world can hope for.
- daveguy 1y agoExcept any country can make up their own crypto "stable" coins.
- MangoToupe 1y agoI'm not arguing for those local currencies; I'm just saying that the USD is never going to be managed with nigerians in mind and it'd be ridiculous to imagine it would be. Hell, the USD isn't even managed with americans in mind. We just happen to live here.