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by rscnt
1455 days ago
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Most people in my circle that pay taxes and hold crypto disapprove this. People are overall indifferent or disappointed with the decision. We don't know who or whom holds the BTC that was bought with tax money. It just takes a couple day of rain to have the capital flooded and our president is busy talking about crypto. Web services build by the government are a disaster, can't handle a decent volume of requests or are simply too buggy. With our taxes we've financed "chivo", the entire thing has been a disaster they spent an awful amount of dollars to have basically nobody use it. Not even crypto bros use the chivo apps, most transactions can be attributed to people doing "scalping". |
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I'm originally from an "emerging market" (aka 3rd world country) and I don't share the enthusiasm crypto bros do about emerging markets interacting with crypto.
It's rarely from a beneficial place. Crypto is absolutely perfect to allow a corrupt government to quietly siphon the nation. No planes full of dollar bills, no heavy gold bricks. Just a movement from one digital address to another.
Sure in a pinch it might be a lifeline, but it's a flimsy lifeline and these countries need a lot more than a glorified remittance system to recover. It's fun to laugh at NFT bros trying to buy overpriced restaurant food, but last few months have likely been disastrous for a lot of very poor people.