Re:FTX US’s wallets appear to be hacked, $600M leaving the e...
by me551ah on Saturday November 12, 2022 @08:18AM
(#33572759)
I'm from India, one of the most populous countries in the world. And we have instant online transfers with no transaction fee and it's called UPI.
Re:FTX US’s wallets appear to be hacked, $600M leaving the e...
by kevinak on Saturday November 12, 2022 @11:18AM
(#33574431)
Is everyone in India banked? How do you transfer money outside of the India? Can you do that insta fly with UPI as well?
There are more countries than India, I’d suggest maybe taking a look at South America, Africa and Asia.
Re:FTX US’s wallets appear to be hacked, $600M leaving the e...
by ipython on Saturday November 12, 2022 @03:49PM
(#33576894)
This argument always intrigued me. Once you point out cryptocurrencies don’t actually solve the unbanked problem for poor people, then the use case immediately shifts to “well have you tried to move seven figures between countries”?
By the way many African countries have a robust mobile phone based banking infrastructure. Nothing to do with cryptocurrency. See https://qz.com/africa/2161960/gsma-70-percent-of-the-worlds-... for example.
Re:FTX US’s wallets appear to be hacked, $600M leaving the e...
by rabite on Thursday November 17, 2022 @05:26AM
(#33637044)
That's not what we were discussing. Here's your quote:
> Crypto payments take much longer time than traditional credit card ones
Everyone in India can process an American credit card? Indians are magically immune from political censorship on the basis of the payment card associations?
This kind of comment is the epitome of the Western privilege -- your governments cut off entire countries from the banking system, deny their own citizens access to banks because of their political beliefs, and then tout the alleged superiority of your credit cards, which are now denied to truckers and Kanye West by the same companies that were happy to do business with Pornhub when they were knowingly facilitating the monetization of child sex slaves.
Credit cards and United States dollars are the tools of thieves, thugs, rapists, and warmongers. Bitcoin works for the use case of not staining your hands with the blood and tears of their victims, at the very least.