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Re:Bitcoin backlash as ‘miners’ stress power grids in Centra... by acdha on Sunday May 27, 2018 @03:14PM (#17168580)
Countries without stable currencies tend to use things like USD which have stable values rather than wild fluctuations. That’s a product of a social system and years of practice, not hand waving about magic real-soon-now technology. In your Russian example, the value would be in the link to the commodity rather than whether it’s a printed bill, entry in a database, or record in a block. If that’s honest, any of them will work and if it’s not, none of them will.

Besides, if I lived in Venezuela or Russia, would I really want to record my black market activities in a public ledger which is hard to disavow?

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