On the dangers of cryptocurrencies and the uselessness of blockchain

Re:On the dangers of cryptocurrencies and the uselessness of... by elil17 on Friday June 24, 2022 @10:24AM (#31862361)

You send the money to their bank account with SWIFT? Not every bank is owned by a US company. Or mail cash - you can even get it insured.

If a US bank won't send money to a foreign bank, it's because the bank is in a sanctioned country (and now you have bigger issues than how to send the money, i.e. legal issues).

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Re:On the dangers of cryptocurrencies and the uselessness of... by iskander on Friday June 24, 2022 @10:27AM (#31862428)

To whose bank account? Multi-signature wallets are a really nice feature which are cumbersome to imitate in a real bank account (involving physical signatures).

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Re:On the dangers of cryptocurrencies and the uselessness of... by elil17 on Friday June 24, 2022 @11:54AM (#31864233)

To the bank account of the organization you’re donating to? Or to whatever bank account the org would put real money in after they sell the crypto they get

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Re:On the dangers of cryptocurrencies and the uselessness of... by hnuaer on Friday June 24, 2022 @10:55AM (#31863072)

I have work done in Venezuela all the time. How can I instantly and for free send them payments if not for Bitcoin Cash or Monero?

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Re:On the dangers of cryptocurrencies and the uselessness of... by elil17 on Friday June 24, 2022 @11:56AM (#31864279)

BTC and Monero aren’t really instant or free because the recipient has to convert them to real money (and pay fees) before they can use them for most things

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