Bitcoin value tumbles almost 50% since record November

Re:Bitcoin value tumbles almost 50% since record November by The-Bus on Monday January 24, 2022 @12:17PM (#30060660)

I agree with this statement but the solution is not solely crypto nor does that provide any inherent value to residents outside of those nations.

[ Parent | on HN ]

Re:Bitcoin value tumbles almost 50% since record November by delabay on Monday January 24, 2022 @12:34PM (#30060927)

In aforementioned countries the established financial system becomes a tool of theft by the government. Just listen to news reports or podcasts from normal folks who have to survive under these conditions. Thought you had a dollar denominated savings account? It's Liras now. Want to withdraw your money? Limited to $40US a day.

Crypto is one compelling alternative. Note, I lump a reputable USD stablecoin in here too. It's all software after all.

[ Parent | on HN ]

Re:Bitcoin value tumbles almost 50% since record November by specialist on Monday January 24, 2022 @01:15PM (#30061545)

> ...a tool of theft by the government.

How is theft by grifters (whatever we're calling crypto-bros) better?

[ Parent | on HN ]

Re:Bitcoin value tumbles almost 50% since record November by sgt101 on Monday January 24, 2022 @12:20PM (#30060725)

There does need to be a solution for countries that do this - that is to say indulge in radical devaluation; but it is clearly not BTC or ETH. It could be a properly backed and regulated crypto currency, one that also could be used without burning barrels of oil. There is no such crypto currency though, and there may never be one.

[ Parent | on HN ]