Hacker News new | ask | show | jobs
by BoorishBears 1455 days ago
It's great to see a perspective from the ground on this.

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.