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by whermans
1652 days ago
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The reason it's "better" for international transfers is because it has decided to ditch all legal and financial safeguards that have been introduced, often with good reason, in regular banking. From a technical standpoint, crypto adds nothing to the process that a centralized system can't provide cheaper, faster and safer. Additionally, a hedge is only as good as its performance in case of a worst-case scenario. If the stock market takes a dive or war breaks out, crypto will dive just as hard - same as it had done in the past. |
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When Greece was freezing / slowing bank withdrawals during its financial crisis in 2015, BTC price climbed.
IIRC BTC also jumped when Russia was getting involved in Ukraine in 2014.
It's not a perfect hedge, but I do believe bitcoin could be valuable if the world/governments go (partly) to shit.
[0] https://en.wikipedia.org/wiki/2012–2013_Cypriot_financial_cr...
[1] https://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/in...
[2] https://www.in2013dollars.com/bitcoin-price-in-2013