dadoge

13 ms·

91.
by dadoge 5y ago
A better solution for countries suffering high inflation is to not have high inflation. One option is Bitcoin El Salvador doesn’t have too much inflation since it uses USD. In their case, independence from USD is also a goal
92.
by dadoge 5y ago
The biggest problem with BTC is the fools turning it into gambling, making 100x leveraged trades on it. But, looking at the fundamental properties of BTC, it does have better properties than USD. It’s just not adopted enough to be stable…b
93.
by dadoge 5y ago
The end goal for BTC is not for all transactions to run directly on-chain Hal Finney basically knew this in 2009 Elizabeth Stark knew this in 2014 and started Lightning
94.
by dadoge 5y ago
There is some merits to what you are saying. Yes, the USD is better for hyperinflation *right now* than BTC as it is more stable. But I do think BTC has better properties that, in the long run, will prove superior to the USD and gold in env
95.
by dadoge 5y ago
So you think this is just to pump Bitcoin? Well that’s where I disagree with you. What happened with those apps in Africa? And why is Nigeria increasingly looking to BTC? Could also be corrupt central banks, which I admit is less an issue
96.
by dadoge 5y ago
Wasn’t perfect, but “enough” of a success. Notice you cherry picking only the negative quotes… I’d be shocked, and annoyed, if those fees continue in the future as the infra scales up
97.
by dadoge 5y ago
UK is way better off than El Salvador. 70% if people in ES don’t have a bank acct. 50% have internet. Take a look at the Bitcoin beach experiment https://apnews.com/article/caribbean-el-salvador-bitcoin-lif...
98.
by dadoge 5y ago
Update! 50% of ES has internet access, and this will only increase with companies like Blockstream coming in https://megaphone.link/BLOCK5279366544
99.
by dadoge 5y ago
Too bad 70% of the population does not have a bank acct there
100.
by dadoge 5y ago
Read about the Bitcoin beach experiments there before jumping to conclusions like that https://apnews.com/article/caribbean-el-salvador-bitcoin-lif...
101.
by dadoge 5y ago
Read more about this experiment before jumping to conclusions https://apnews.com/article/caribbean-el-salvador-bitcoin-lif... The smallness of the country doesn’t mean this isn’t significant. They have problems, and t
102.
by dadoge 5y ago
That is a good question that I’ve thought about but haven’t dug enough to have a great answer. Blockstream is working to make internet more accessible there. It’ll be interesting to see how much penetration they get and how much it’ll cost
103.
by dadoge 5y ago
Adorable ignorance and lack of empathy
104.
by dadoge 5y ago
Man, wow. What if, like, you know, solving problems like 70% of the population not having a bank could actually reduce crime. Bitcoin is a pretty easy fix for that problem. And “it’s a tiny country”…like do they not deserve a better life si
105.
by dadoge 5y ago
I agree Venezuela is a better use case, doesn’t mean they don’t have a use case too though…
106.
by dadoge 5y ago
What do you mean? The law has passed, and takes effect in 90 days
107.
by dadoge 5y ago
22% of their GDP is remittance based. The US treats them like shit since they have the USD as currency. God forbid a country wants more independence 70% of the country has no bank, for Bitcoin all you need is the internet and a simple wall
108.
by dadoge 5y ago
“ Cryptocurrencies are not used in regular payment transactions” How can they say that with a straight face knowing what’s going on in El Salvador
109.
by dadoge 5y ago
Lol after a country adopts it as legal tender, they say it’s not money Can’t make this up
110.
by dadoge 5y ago
Just one example, PayPal is also for peer-2-peer transfers
111.
by dadoge 5y ago
Sooo… do you think it’s better to have higher transfer fees? Seems like a no-brainer win though? Even if it doesn’t revolutionize the country
112.
by dadoge 5y ago
They will literally have more money in their pockets. Good things happen when people have more money in their pockets - people save more, invest more, build more.
113.
by dadoge 5y ago
Do you work for the onion? You can say the same thing about the sun and solar
114.
by dadoge 5y ago
https://www.google.com/amp/s/www.nytimes.com/2021/06/09/tech... Nah. Bitcoin is actually a lot easier to trace than paper US Dollars.
115.
by dadoge 5y ago
Remittances, things like wire transfers, account for 22% of their GDP. Bitcoin will give that money back to the people with the way lower cost of transfers, esp through the Lightning Network that is planned to be widely used. Elizabeth Star
116.
by dadoge 5y ago
Have you thought about what effect 40% inflation year over year does to you like in Argentina? Or over 1000% in Venezuela.
117.
by dadoge 5y ago
A lot fewer people use crypto for ill motives than you think. Paper USD is a lot easier to hide than a Bitcoin transaction on a public ledger
118.
by dadoge 5y ago
Tell that to people in Nigeria, Venezuela and Argentina that have no control over their money. In Venezuela there is absolutely absurd inflation number there: like over 1,000%. Argentina it’s over 30% each year for several years. Bitcoin is
119.
by dadoge 5y ago
More people need to appreciate this
120.
by dadoge 5y ago
Or the CSO of the Human Rights Org? https://www.google.com/amp/s/bitcoinmagazine.com/.amp/cultur...

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