Re:Kosovo bans cryptocurrency mining to save electricity
by spiorf on Wednesday January 05, 2022 @03:39PM
(#29814596)
> How much crypto is traded to avoid corrupt regimes and hyperinflation? 1%? 0.1%?
You can't know, and that's the point.
You can leave a country carrying nothing but a seed phrase in your brain and with it all your wealth, if you need to. Just the fact that governments know that this can happen can change things.
Re:Kosovo bans cryptocurrency mining to save electricity
by caf on Wednesday January 05, 2022 @05:04PM
(#29815683)
I don't think governments care about this like they do about using foreign exchange to export wealth.
If you have a pile of Fakeistan dollarydoos you wish to convert into USD, spending those dollarydoos in Fakeistan on electricity to apparate some Bitcoin, then converting those Bitcoin into USD in the USA does not create a foreign claim on Fakeistani economic output. On the other hand, directly exchanging your dollarydoos with foreigners for USD does leave those foreigners holding a pile of dollarydoos, which does represent a claim on future Fakeistani economic output.
How much crypto is traded to avoid corrupt regimes and hyperinflation? 1%? 0.1%? There's probably a few zeroes in there.
Regarding Netflix, it's better for the environment than buying a blu-ray and blu-ray player or driving to the cinema. Can the same be said about crypto?