▲ | davidlee1435 5 days ago | |||||||
Just because badly managed local currency is required for taxes doesn't mean that most people in that country _must want_ to hold it. Plenty of trivially obvious evidence to the contrary I assume you've never experienced hyper-inflation? If you have, do you think it's fair that you were forced into a hyper-inflationary currency? And, if given the means to, do you think it's fair that people _should_ have the ability to choose? | ||||||||
▲ | XorNot 5 days ago | parent [-] | |||||||
That's not the point: the point is "how do you buy the coin in the first place?" If you live in a place then you have to trade in whatever the local currency is. You didn't "opt in" to a particular stable coin: someone has to be willing to accept that specific coin as payment. And they can't just exchange it to another: the exchange has to want to sell that coin in exchange for the coin you transact with. And to interact locally with the government, you need someone who is willing to sell coins in exchange for the currency you don't want. In practical alternate market economies, the only currency which trades tends to be USD and the exchange rate will be bad because it's a grey market. I would go further and posit that where crypto has any impact, it's people because it's a window into being able to hold USD. Certainly the only question anyone asks about Tether is whether they actually have the USD to cover their position: no one wants a Yuan based see stable coin. | ||||||||
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