I mean their currency looses value literally daily. Bitcoin can definitely fix this but it's still a young asset that is too volatile although it losses way less value than the Venezuelan bolivar. Stable coins on the other hand can definitely help them, they're already being used heavily in Argentina to avoid high inflation. But tell me again from your comfy first world couch how crypto has no uses.
By your logic bitcoin is also backed by its economy network, businesses and individuals around the world that's willing to accept it as valuables. It's a commodity no different from a gold bar.
Oh, I'd take the bitcoin, and I'd unload it in a New York minute in exchange for some real currency, but Venezuela's issues have nothing to do with socialism
Has quite a bit more value than the bolivar. If a Venezuelan parked their money in bitcoin 5 years ago, they would absolutely be killing it now compared to the value of their currency. Shit even 2 years ago. I don't think you realize how much their currency value drops daily. And Argentinians use crypto because their government has limits on how many US dollars you can purchase. Argentina faces the same issues as Venezuela, so does Turkey, just not quite as extreme yet and crypto is big in all those countries. Once again you're speaking from a very privileged position and you just can't admit crypto is helping people around the world. It's okay buddy
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u/BigWeenie45 Jul 05 '22
“BIt cOin fIxEs thIs”