Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by eximius on Monday July 09, 2018 @05:39PM
(#17493653)
I think that the EVM hasn't found its great use yet. But Cryptocurrencies in general are being used widely for international currency movements and as currency in distressed countries like Venezuela where the 'black market' is just the regular market due to government instability.
Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by bduerst on Monday July 09, 2018 @06:41PM
(#17494004)
The Venezuelan bolívar is not a good example of prime markets for cryptocurrencies. The forced exchange rates, runaway inflation, and general mismanagement has created a black market in which literally any other currency is better.
Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by aclsid on Tuesday July 10, 2018 @12:41AM
(#17495537)
I think it is a good example because cryptocurrencies solve the confidence issue people have in the local currency and takes away control of a single government to impose controls and depreciate the currency. You also get to bypass the notoriously bad banking system and since bank transfers cannot be reversed here, it's actually safer to trade bitcoins to bolivares than it is to trade bitcoin to USD using Zelle or PayPal.
Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by bduerst on Friday July 13, 2018 @01:45PM
(#17525040)
Again, any currency solves the confidence issue, even gift cards, not just cryptocurrencies. There's an entire black market exchange with other currencies already in place.
Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by lurker456 on Monday July 09, 2018 @08:00PM
(#17494399)
How would you send fiat to a family member stuck in Venezuela ? I agree that the value of cryptocurrency is hugely inflated, but it's not zero either. It's a good fit in some scenarios.
Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by herval on Monday July 09, 2018 @09:19PM
(#17494738)
You could (and people do) send gift cards, or pre-paid debit cards. These have the added benefit of being accepted in stores, etc, whereas cryptocurrencies... not really?
Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by lurker456 on Wednesday July 11, 2018 @06:34PM
(#17510786)
Anything of value sent via snail mail gets seized. CC and bank accounts denominated in USD can't be used.
There is a black market where people pay with physical USD and crypto.
Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by bduerst on Friday July 13, 2018 @01:48PM
(#17525058)
That's why people send the gift cards electronically, and they sell them on Facebook or something similar.
Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by sadturnip on Monday July 09, 2018 @08:40PM
(#17494565)
How would said family member actually convert the crypto into something that can be spent in their day to day lives?
Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by aclsid on Tuesday July 10, 2018 @12:37AM
(#17495520)
With an exchange that transfers money to your local bank account? I know at least two that do that for Venezuela.
Honest question: for what?
I've yet to hear a use case where blockchains are actually solving a problem, other than "buy things on the black market".