Cryptocurrency Is a Giant Ponzi Scheme

Re:Cryptocurrency Is a Giant Ponzi Scheme by jcburnham on Sunday January 23, 2022 @12:13AM (#30043815)

I think many people here simply don't understand how the past century of corrupt governments in Argentina, on both the right and the left, have ruined the economy of that country: https://english.elpais.com/usa/2021-03-05/argentinas-perpetu...

If the people of Argentina can use cryptocurrency to route around the oppressive and unjust laws they suffer under, I say more power to them.

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Re:Cryptocurrency Is a Giant Ponzi Scheme by twelve40 on Sunday January 23, 2022 @01:07AM (#30044003)

I'm admittedly very uninformed when it comes to Argentina, but the point is that tracking down the entity that is paying cash for coins cannot be that difficult. Even the most inept governments in the world typically become very efficient when it comes to money.

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Re:Cryptocurrency Is a Giant Ponzi Scheme by jcburnham on Sunday January 23, 2022 @02:53AM (#30044425)

> tracking down the entity that is paying cash

Cash is what the illegal drug trade runs on, and governments are generally very bad at preventing that.

One interesting data-point about Argentina is that currently about 8% of all physical US dollar bills (About $130 billion) are in Argentina (https://www.forbes.com/sites/afontevecchia/2021/06/28/a-cryp...).

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