this post was submitted on 02 Feb 2024
1887 points (96.5% liked)
Memes
45550 readers
1101 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Also, the unbanked.
Also, privacy and anonymity (to an extent).
Also, complete predictability in the system (its at least domain constrained).
There's no privacy, it's an open ledger, only anonymity
It's a bad way of hiding money if you're about to be investigated for crime
Monero seems to be holding up in terms of privacy.
Can the unbanked still benefits from crypto these days though? How can you cash your crypto without doing KYC? Even localbitcoin got folded due to increased regulation. If you can pass KYC, then you're probably not the unbanked. Less and less business accept crypto these days, it's hard purchase daily necessities without cashing out your crypto (except probably in venezuela).
I mean thats really what I'm talking about. Africa, Central and South America, I know they benefit substantially from technology, because local banks can be so unreliable.
An older article, but relevant:
https://www.forbes.com/sites/oluwaseunadeyanju/2021/09/14/bitcoin-opportunity-africa-adoption-rate-is-highest-globally/
Thanks for your input, dingdong.