[acdha]

This is only true to the extent that you can exchange those tokens for the things you need. Just as with all other asset classes, once a government makes an effort those options dry up — and the public nature makes it worse because the system is designed to help the government auditors trace your transactions and punish everyone who’s helped you launder funds, which will be priced into the costs which are already higher than the unbanked can afford.

[lowkey]

Think of Bitcoin as your personal reserve currency rather than a directly transactional currency at least today. You use Bitcoin as your store of wealth to transfer your life savings safely across borders. Then once safely in a refugee camp or other safer place you could use the local black market to exchange some Bitcoin for the local currency so you can spend it.

[acdha]

Yes, I’m familiar with the pivot after failing at its stated goals. That has the same problem: you need to conduct illegal transactions on both ends which will be expensive even if it doesn’t lead to getting caught, and the volatility is potentially ruinous if you can’t wait for favorable exchange rates with a stable currency.