Re:Ask HN: What real world problem does cryptocurrency solve?
by D13Fd on Monday February 14, 2022 @06:35PM
(#30340118)
The credit card one makes sense if you are dealing with a completely untrusted third party with no intermediary, although in practice it probably just means you are using a crypto-based intermediary instead of a conventional one (PayPal, Venmo, etc.).
I’m not sure what you would be doing where that would make sense that’s not an illegal/illicit transaction.
Forex exchange is pretty cheap these days with things like Wise.
You can technically charge your debit / credit card just by knowing the number.
All the others are political problems and they can't beat a state actor. Eg. You won't stop the government from seizing your assets: they'll put you in jail until you give them up. We should think about a political solution, not a technical one (I'm all for abolishing the government).
I'm surprised they didn't crack down on crypto earlier, I suspect they're using it as a sort of inflationary device. Having extra unbacked crypto in the world means you have more money in the world, making the rest of the money a little bit less valuable - but I don't think crypto was considered seriously enough to affect fiat, at the beginning. Now, when you want to push your currency or local assets up you can just ban/harm crypto (which is what Russia proposed with the RUB going down a month ago).