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Re:Binance founder 'CZ' leaves prison on Friday–along with h... by r00fus on Friday September 27, 2024 @12:20PM (#41672439)
Why do we need a so-called decentralized currency anyway? I'd be less antagonistic if its major use case wasn't money laundering.
Re:Binance founder 'CZ' leaves prison on Friday–along with h... by llamaimperative on Friday September 27, 2024 @02:27PM (#41674001)
How are these solved by cryptocurrencies?
Re:Binance founder 'CZ' leaves prison on Friday–along with h... by alfredol on Friday September 27, 2024 @01:08PM (#41673038)
In the case of Argentina, in most cases people have turned to the much safer USD.
Re:Binance founder 'CZ' leaves prison on Friday–along with h... by diego_sandoval on Friday September 27, 2024 @04:08PM (#41675039)
Only when and where they've been allowed to.
Re:Binance founder 'CZ' leaves prison on Friday–along with h... by LegionMammal978 on Friday September 27, 2024 @07:29PM (#41676543)
How would they be allowed to switch to BTC (or another decentralized cryptocurrency) at a greater rate than they're currently allowed to switch to USD? I'd imagine it wouldn't be much harder to crack down on one than the other, given that the USD is also predominantly a digital currency.
Re:Binance founder 'CZ' leaves prison on Friday–along with h... by ok123456 on Friday September 27, 2024 @01:13PM (#41673107)
Capital controls are becoming more and more erratic and authoritarian. A decentralized currency provides a relief valve.
Re:Binance founder 'CZ' leaves prison on Friday–along with h... by pavlov on Friday September 27, 2024 @02:52PM (#41674256)
More erratic and authoritarian compared to what time?

As recently as 1989, most of the world's currencies were tightly controlled and exchange rates were fixed. In many countries like the Soviet Union, you were not even allowed to bring local cash outside of the country at risk of high penalties. Sending an international wire transfer was a multi-day operation that probably involved telex messages and several phone calls.

Today you can send money instantly across the European continent in a single currency at essentially zero cost. The USA is also catching up and finally bringing their banks to the 21st century with Fedwire. Everybody has multiple credit cards and uses them for online shopping across the world. Any physical product you might imagine can be ordered from China with a one-click digital payment.

None of these improvements were thanks to Bitcoin or any other cryptocurrency.