Re:Binance's books are a black box, filings show, as it trie...
by wmf on Monday December 19, 2022 @04:28PM
(#34057990)
It would be interesting if the US set up some kind of Freedom Bank specifically for people in China, Russia, Venezuela, Argentina, Nigeria, etc. to access US dollars and dollar-based investments. Those countries wouldn't appreciate it though so I'd expect a lot of diplomatic blowback. Until then, there's crypto for better or worse.
[Insert conspiracy theory here about Tether being a CIA op to dollarize the developing world.]
Re:Binance's books are a black box, filings show, as it trie...
by from on Monday December 19, 2022 @08:16PM
(#34060273)
I like the way you think https://news.ycombinator.com/item?id=32841022
Re:Binance's books are a black box, filings show, as it trie...
by AbrahamParangi on Monday December 19, 2022 @04:57PM
(#34058328)
Having a normal, working financial system isn't really a global or historical norm. Very arguably we're on an isolated island of relative economic calm in both time and space, and that we should not assume these conditions will just continue forever.
Re:Binance's books are a black box, filings show, as it trie...
by WeylandYutani on Monday December 19, 2022 @07:08PM
(#34059723)
Bitcoin is actually a lot more complex than banks- which were first implemented in Europe by the knights Templar.
We know banks work in the dark ages. Even after a nuclear war within years someone will found a bank.
The personal example Scott gives of sending money to Russians is probably illegal and circumvents currency controls that the Russian government has deliberately put in place, so not really a demonstration for crypto as much as it is an example that people find these types of transactions useful for various reasons.