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> Crypto makes perfect sense if you just understand it's for doing illegal stuff. What happens when a country's banking system fails?

• kec 10mo ago
  In what circumstance could the banking system collapse but leave the electric grid and all other infrastructure which supports the internet intact?
  • lazide 10mo ago
    Venezuela?
    • kec 10mo ago
      Do Venezuelans _actually_ have much documented usage of crypto, or are they simply using foreign fiat like the USD and Euro?
  • JuniperMesos 10mo ago
    The internet is more resilient than that. I wouldn't want to live in a country where the banking system has collapsed, and one of the reasons is because I expect that this correlates with unreliability of the power grid; but you can run a lot of useful pieces of software on a computer powered by solar panels and batteries in the wilderness with a satellite uplink, including a bitcoin node.
    • troupo 10mo ago
      Ah yes. And everyone in a country that suffers a banking collapse lives in a wilderness with solar power and a sattelite uplink.
      • FabHK 10mo ago
        Yes. And if a country with say 200m people suffered a banking collapse, everyone could do a Bitcoin transaction every 40 days (assuming everyone else stopped using it), and would use only about 1% of the world's electricity. Great stuff.
  • immibis 10mo ago
    One where the president prints trillions of dollars to bail out his AI cronies.
    • KellyCriterion 10mo ago
      ++1