News for hackers. Stuff that matters.

A comment on America Is Being Held for Ransom. It Needs to Fight Back. Parent comment

Re:America Is Being Held for Ransom. It Needs to Fight Back by ryan_lane on Tuesday September 21, 2021 @10:09PM (#28612417)
You're thinking about this from a technology point of view, but not from a practical point of view.

All you need to do is make it illegal to convert bitcoin to fiat and vice versa. Bitcoin is used for speculation, and not as a currency. Having bitcoin without being able to use it is pointless, and the only way to use it right now is to convert it into a usable currency. Yes, people can use some shady offshore exchange, and risk major KYC issues with moving that fiat. The key point here is that very few people would do so. The price of bitcoin would crash, and that alone would stop being from wanting to buy it.

[ Parent | on HN ]
Re:America Is Being Held for Ransom. It Needs to Fight Back by jakupovic on Wednesday September 22, 2021 @07:21AM (#28615116)
You don't know what you are talking about. Bitcoin can be exchanged for anything on for example El Salvador which makes it a currency, period. Therefore the rest of your rambling stands in error. Please educate yourself.
[ Parent | on HN ]