News for hackers. Stuff that matters.
Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017... by jakupovic on Monday November 30, 2020 @01:00PM (#25256738)
The problem of exchanging value between parties without intermediary or third-parties.
Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017... by zzbzq on Monday November 30, 2020 @01:17PM (#25256980)
> than by a classical solution

cash

Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017... by lawn on Monday November 30, 2020 @01:25PM (#25257095)
Is fine in person, but not digitally.
Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017... by arcticbull on Monday November 30, 2020 @01:02PM (#25256766)
Yeah that’s not a problem though, it’s a feature.
Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017... by safog on Monday November 30, 2020 @01:13PM (#25256933)
Tell that to the Iranians or to the people in Venezuela. Countries can be mis managed, currencies can be mis managed, people can be targeted (financial sanctions), traditional financial services are just not available in a lot of places.

To top it off, It's Gold vs BTC for store of value and Gold has many, many downsides as well that we just chose to ignore because it's a shiny metal and has been in use longer.

Re:Bitcoin Price Hits All-Time High of $19,786, Topping 2017... by arcticbull on Monday November 30, 2020 @01:35PM (#25257211)
This is another classic misunderstanding.

The problem those folks have isn’t bad currency it’s bad government. You can’t solve that by allowing people to violate sanctions suddenly.

Remember, sanctions are what’s preventing these folks from trading internationally and sanctions are what’s preventing these folks from using USD. That doesn’t go away in a Bitcoin world. Amazon isn’t going to deploy stealth C-130s to airdrop in their prime packages if they pay with Bitcoin.

When the government has failed your currency is the least of your problems, and once you change the government your currency returns to normalcy.

Allowing the transfer of value in violation of sanctions has allowed North Korea to accumulate billions of dollars of crypto to fund their nuclear weapons programs. The livelihood of the average citizen changes not at all, but the largesse of the rogue state increases.