Even that technically falls under the crime umbrella (though I don't believe it is immoral or unethical). It's basically the getting around government imposed capital controls.
The comment (and thread) isn't about getting around capital controls, which is why it is so powerful.
The comment argues that for people in stable, wealthy countries, Bitcoin can seem unnecessary or overhyped. But for those living in countries with dysfunctional banking systems, currency controls, or even mild corruption (like Argentina), it solves very real problems.
Traditional financial systems often restrict access to dollars, limit foreign transfers, and are vulnerable to government seizure or devaluation, leaving people with few safe options to save or send money.
Bitcoin offers a practical alternative for remittances, savings, and financial autonomy in places where the local system fails to protect or empower its citizens. While Bitcoin may look inefficient compared to ACH transfers in the U.S., it’s a lifeline elsewhere, and one that could become more relevant globally in times of instability.
I guess citation? Provide a list of countries that don’t have any control over their own currency? Because unless they don’t control their own currency, it’s impossible to not have capital controls in place. That’s a basic function of every sovereign nation.
Anywhere people are unbanked. If you're not part of the system, then there is no system to get around.
Nomads are often unbanked too. When I was living in Vietnam for years, I was certainly under US laws and I obviously have to pay my taxes and follow Vietnam laws.
But, as a foreigner (especially one who doesn't speak the language), I'm still quite outside of the system there. If you've ever been a nomad, you'll understand that difference.
The most surprising part of that thread is the claim that they’re using Bitcoin rather than a stablecoin. But perhaps things have changed in four years?
Even that technically falls under the crime umbrella (though I don't believe it is immoral or unethical). It's basically the getting around government imposed capital controls.
The comment (and thread) isn't about getting around capital controls, which is why it is so powerful.
The comment argues that for people in stable, wealthy countries, Bitcoin can seem unnecessary or overhyped. But for those living in countries with dysfunctional banking systems, currency controls, or even mild corruption (like Argentina), it solves very real problems.
Traditional financial systems often restrict access to dollars, limit foreign transfers, and are vulnerable to government seizure or devaluation, leaving people with few safe options to save or send money.
Bitcoin offers a practical alternative for remittances, savings, and financial autonomy in places where the local system fails to protect or empower its citizens. While Bitcoin may look inefficient compared to ACH transfers in the U.S., it’s a lifeline elsewhere, and one that could become more relevant globally in times of instability.
You’ve literally just described getting around capital controls.
In some countries, there is nothing to get around.
I guess citation? Provide a list of countries that don’t have any control over their own currency? Because unless they don’t control their own currency, it’s impossible to not have capital controls in place. That’s a basic function of every sovereign nation.
Anywhere people are unbanked. If you're not part of the system, then there is no system to get around.
Nomads are often unbanked too. When I was living in Vietnam for years, I was certainly under US laws and I obviously have to pay my taxes and follow Vietnam laws.
But, as a foreigner (especially one who doesn't speak the language), I'm still quite outside of the system there. If you've ever been a nomad, you'll understand that difference.
You aren't describing a situation where there is a lack of capital controls.
The most surprising part of that thread is the claim that they’re using Bitcoin rather than a stablecoin. But perhaps things have changed in four years?
To be fair, the article for the thread is about how Tether was forced to end in NY.