Buying drugs on the internet? Need to rapidly transfer money to a country like Ukraine? (exchange desks in Kiev are still working, processing millions a day)
What’s the point of moving goalposts like this?
The same thing with 3th world countries: to be able to rescue your money, you need to find someone who wants to take that risky currency and exchange it to crypto for you and back if you need it.
But as soon as Bitcoin/crypto is so established than there is a big chance that the country/dictator steps in and forbids it.yes that is technically possible (see great Chinese firewall)
> to be able to rescue your money, you need to find someone who wants to take that risky currency and exchange it to crypto for you and back if you need it.
Ukraine runs on USD, very few “serious” transactions occur in UAH. All businesses accept USD, from kiosks to restaurants to car dealerships.
You can even deliver package without any single issue other than a bit higher cost.
I do not understand how bitcoin would be better over bank controlled transaction.
Because you get cash in Kiev within the hour, instead of in a couple of days.
Does it take a long time in Kiev to process transfers?
How does the recipient spend butcoin anyway? Wouldn’t they need to transfer it to a local bank before withdrawing as cash or whatnot?
There are a bunch of exchange desks that will immediately exchange to paper USD. Want half a million dollars in cash within the hour? No problem.
Of course they do, it’ll just take at least a day for the money to arrive.