Re:Bitcoin is a Ponzi
by XorNot on Thursday October 07, 2021 @02:11AM
(#28782767)
> A refugee could store their wealth in Bitcoin, leave their country, settle somewhere else
Problem: Who is selling Bitcoin for local currency in an area where there is a problem which is generating refugees?
Sure - you can electronically send Bitcoin to people, but how is the seller going to receive local currency from a war torn region without being local themselves? And if they are local...why are they selling their Bitcoin?
Remember - this is an area presumably in some form of collapse. How is a refugee going to transact their savings to another party who can accept them safely in the first place (rather then say, just being robbed - presumably why they're fleeing).
Problem: Who is selling Bitcoin for local currency in an area where there is a problem which is generating refugees?
Sure - you can electronically send Bitcoin to people, but how is the seller going to receive local currency from a war torn region without being local themselves? And if they are local...why are they selling their Bitcoin?
Remember - this is an area presumably in some form of collapse. How is a refugee going to transact their savings to another party who can accept them safely in the first place (rather then say, just being robbed - presumably why they're fleeing).