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cslarson

in the last 24hrs i,

- funded an Afghan refugee friend in Turkey with ETH. they have no bank account.

- joined a dao to bid on the last privately held copy of the US Constitution.

- claimed an airdrop representing some control of a protocol i had used

- borrowed stables against volatile collateral

- repaid loans, shored up collateral (market went down)

- many token swaps (stable <-> stable, volatile <-> stable)

the hn crowd should be leading discussion on the ethical implications of the technology but it is stuck where it was like 10 years ago. it is very strange. but i guess this happened to slashdot too.

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- funded an Afghan refugee friend in Turkey with ETH. they have no bank account.

If they have no bank account, how do they convert ETH into something actually useful to them (presumably Turkish Lira)?

Yeah no, the Turkish Lira is no longer useful.

"The Turkish lira hit its weakest ever level against the US dollar on August 7, trading at 7.36 at one point, having lost nearly 20% of its value since the beginning of the year....The lira has been on life support for the past two years and the economy has continually struggled."

https://theconversation.com/turkeys-collapsing-lira-governme...

> Yeah no, the Turkish Lira is no longer useful.

Yeah, no, it actually is.

The USDTRY rate doesn't matter nearly as much if you actually live in Turkey, for hopefully obviously reasons.

And if your argument is that realized volatility makes a currency useless, then I'm afraid I have some very bad news about cryptocurrency.

I was being a bit facetious. Obviously people still use it. But it's not in a great place right now.

Volatility based on speculation, price discovery, and early adoption is different than volatility because of high inflation. The former just means you might lose your investments. The latter means your government could collapse.

Man, my national currency lost 50% of value vs USD throughout last 12 or so years. It regularly goes up and down 10-25% (it usually takes several months). Life goes on and prices of goods are very stable. It's not much of a problem. It's just a healthy mechanism. I live in Poland, most people aren't aware of PLN/USD fluctuations at all.

Sell it to a neighbor for cash?

they use https://localcryptos.com

HN has decided to completely fail at crypto collectively. They are missing out on the entirety of the Next Big Thing .

If it is your intention to convince people on HN that you're not running a scam, refraining from FOMO-based tactics would be a good start.

I wasn’t using FOMO at all, just saying that when you get deep into decentralised applications, it’s hard to understand why folks don’t see the huge opportunity. I’m also “not running” crypto since that’s impossible ?

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