Cryptocurrency actually works and doesn't involve US middlemen under governmental oppression. It's a fact.
Also, they stopped capitalizing the "i" in "internet" some time ago. Wake up from the year 2000 already.
Cryptocurrency actually works and doesn't involve US middlemen under governmental oppression. It's a fact.
Also, they stopped capitalizing the "i" in "internet" some time ago. Wake up from the year 2000 already.
Hahaha, that’s a good joke
some ways of using crypto are pretty common in countries with high inflation rates
weak src: me, a citizen from a country with high inflation rates
It's not a joke. It's 100% true. People tend to be extremely uneducated wrt crypto, also favoring to dwell in their ignorance.
I spent months in South America and tried to use crypto in Chile, Argentina, Uruguay and Brazil. I was motivated because of this pro-crypto article: https://devonzuegel.com/inside-argentina-s-currency-exchange...
People in many South American countries should be highly motivated to use crypto because fiat is usually damn shit.
I was motivated because cash machines were extremely crappy for a tourist (when you could find an ATM that even had any money in its cassettes). Argentina was a USD8 withdrawal fee plus the super shitty official exchange rate and half the time you could only withdraw maybe USD30 maximum so you maybe needed to do multiple transactions. I also had NZD bank fees and poor exchange rates from my own NZ bank added.
It was a total shitshow trying to use crypto. I would honestly have been better wandering around with gold in my pockets.
Crypto was high risk: dangerously unsafe. Also mostly unavailable unless you were really lucky. Complex. Massively taxed for recipients if they used anything that officially supported crypto. Arbolitos (street money changers) would take a 10-15% cut and it always felt super effing dodgy (felt like a risk of getting kidnapped).
I can't recommend it. There was no way to learn how to do crypto transactions safely, even though I have conversational Spanish.
Scary as all fuck. My kind of holiday, but I couldn't recommend anyone take those risks unless they're as stupid an idiot as me.
I'm mostly relaxed about countries taking advantage of me (or other tourists), but South America was so OTT that I mostly wouldn't go back. That said, I loved Brazil even though I can't speak a word of Portuguese. That's the only place I would make an effort to return to from my 3 months travelling in South America.
So don't pay with it in unsafe settings. For them, crypto still can absolutely be a very valid means of saving money. When the local currency is inflationary and the banks restrict dollars, crypto saves the day wrt holdings. Transfer to bank account in local currency as needed.
And you should never allow anyone to take advantage of you or any tourist. It is never acceptable, and it happens because of relaxed dotards who don't fight or prevent it. As a tourist, being taken advantage in dollars is what I consider scary.
You are suggesting that people should illegally hide their crypto from their government and taxation.
I assume if you live in say Argentina, then you really have little other choice.
But they don't have the knowledge to be safe, even though they strongly understand the need for security. I prefer not to advise other people to perform risky actions.
> you should never allow anyone to take advantage of you or any tourist
And you should never tell other people what to do.
I am actually pretty okay with being generous and paying "too much". I've traveled to places where I'm relatively a fucking rich bastard. I don't see that I should be a selfish arsehole towards people that earn cents compared to me.
I hate foreign governments ripping me off because I know the money isn't going towards anything useful.
But I attempt to be thoughtfully generous towards individuals.
Although I avoid tipping culture (as a New Zealander it feels prostitutionally sleazy to me).
I remember some Germans telling me I was ruining it for other tourists by not haggling enough. Fuck those tight wankers.
It works to buy darknet drugs, sure. Wake me up when I can go to the grocery store and buy some peaches. "Don't worry, cashier-bro, the transaction will only take 20 minutes to go through, trust me!"
There are so many valid criticisms of crypto, but transaction confirmation time has been solved a long time ago.
It does work for groceries, although not at a physical store, because the store is controlled by government henchmen wrt to their payments. Fwiw, one can trivially by an Amazon gift card using cryptocurrency, using which one can then pay for online groceries.
As for transaction confirmation times, there are cryptocurrencies in common use that confirm nearly immediately. The lack of your knowledge shows.
Nothing stops a physical store from accepting cryptocurrency, unless they need to also make agreements with the payment card networks.
Sure, good plan. I'll just walk into thr local CVS to buy a gift card and... oh, wait, no. Exact same issue.
It is a working means. The gift card is exclusively bought online. It's not usable in store anyway since there is no physical card. There is no issue with online purchases.