Re:Mozilla Foundation pausing cryptocurrency donations
by immibis on Thursday January 06, 2022 @05:48PM
(#29831642)
Well, you will get the full value of your pay, but you'll also be screwed by the collapse of the local currency until the local economy rebuilds itself using crypto.
Governments do such things to try and paper over economy shortfalls, keeping everything running kinda-less-bad-ish than if they just let it fail and start over.
When you are in this situation where a USD only gets half as many pesos as the free market dictates, that means a peso is only worth half as much as the government is trying to pretend it is, and (this is the point of the currency controls) they are trying to allow only the 50% of most productive usages of USD to go ahead, possibly in the hopes of getting enough USD back into the country that they can get the free market value back up to where they think it should be, and then stop pretending.
Governments do such things to try and paper over economy shortfalls, keeping everything running kinda-less-bad-ish than if they just let it fail and start over.
When you are in this situation where a USD only gets half as many pesos as the free market dictates, that means a peso is only worth half as much as the government is trying to pretend it is, and (this is the point of the currency controls) they are trying to allow only the 50% of most productive usages of USD to go ahead, possibly in the hopes of getting enough USD back into the country that they can get the free market value back up to where they think it should be, and then stop pretending.