Comment by Rmilb | Hacker News Reader

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Comment by Rmilb | Hacker News Reader

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>1. The few companies that accepted it are gradually stoping to support it (Microsoft for instance).

Microsoft still accepts it. http://www.cnbc.com/2016/03/14/microsoft-stops-accepting-bit...

Bitcoin's utility is still valuable for empowering those people stuck with a currency they don't want to hold like Argentina. http://www.economist.com/blogs/schumpeter/2014/06/bitcoin-ar...

Edit: Forgot to point out the lack of utility for us in the developed world is very true.

Question: how does Bitcoin help you get around currency controls? Who is selling Bitcoin for Venezuelan money?

Most of the people in venezuela with bitcoin trade it for dollars. Typically by routing it to the states, though there is a small local network of exchangers that route paper dollars over the border.

However, most of the underserved users are in the states.

I don't know about currency controls but in Greece with capital controls imposed there were a lot of people who turned to Bitcoin to withdraw as much money out of their bank as they could. You can't withdraw more than 420 euros weekly per bank in cash but no one's stopping you from buying as much bitcoin as you like using credit/debit cards.

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