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A comment on Ask HN: What real world problem does cryptocurrency solve?. Parent comment

Re:Ask HN: What real world problem does cryptocurrency solve? by Ekaros on Monday February 14, 2022 @03:00AM (#30329446)
>- The currency of my country is collapsing, I need to buy something which has a value unconnected to my country.

>- My country imposes export controls on foreign currency. I want to move my money out of my country.

Never understood who is the counter-party in these scenarios. Someone must sell you the crypto for seemingly worthless local currency. (Unless you somehow smuggle mining equipment in and buy local electricity)

Who would make that trade? Specially if currency was collapsing or not usable.

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Re:Ask HN: What real world problem does cryptocurrency solve? by risyachka on Monday February 14, 2022 @03:02AM (#30329456)
You can always find someone to sell USD for crypto in cash. And you will be able to do it only because crypto allows you to actually own your assets.
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Re:Ask HN: What real world problem does cryptocurrency solve? by Ekaros on Monday February 14, 2022 @03:18AM (#30329556)
Question really isn't about USD or Euro. You are already quite happy if you have either.

But let's say you are in Africa and have a lot of local hyper-inflating currency. Who will give you crypto for that? Or at least more than they need for immediate needs.

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Re:Ask HN: What real world problem does cryptocurrency solve? by sjducb on Monday February 14, 2022 @04:21AM (#30329979)
Anyone who needs to buy goods and services, or settle debt, in the local currency.
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Re:Ask HN: What real world problem does cryptocurrency solve? by meheleventyone on Monday February 14, 2022 @03:04AM (#30329471)
You already need crypto though.
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Re:Ask HN: What real world problem does cryptocurrency solve? by risyachka on Monday February 14, 2022 @03:20AM (#30329572)
You do.

I meant mostly that if you store your assets in crypto - it can help a lot in situations like this, presenting a great use case.

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Re:Ask HN: What real world problem does cryptocurrency solve? by nlitened on Monday February 14, 2022 @03:17AM (#30329551)
You don’t need to buy it, you can just accept it as a fee for your work.
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Re:Ask HN: What real world problem does cryptocurrency solve? by meheleventyone on Monday February 14, 2022 @05:17AM (#30330315)
So now the unbanked need an entire shadow economy to exist in their country to take part!? Plus all the accoutrements to access crypto.
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