[darth_avocado]

Value can only teleport if someone is willing to trade traditional currency in exchange on the other side. My no international fee bank account also teleports value across the globe instantly and more merchants are willing to accept it than Bitcoin.

[avmich]

Telll it to my friend who was escaping a country under sanctions and had to move his money elsewhere. His bank didn't have that miraculous power, but Bitcoin did.

[malfist]

Yes, I agree. Bitcoin is great for crime.

[KetoManx64]

The U.S. dollar is the #1 currency used for organized crime.

[malfist]

https://xkcd.com/1138/

[KetoManx64]

Very true:

- US Dollar: Backed by the US government, which has a monopoly on violence over its citizens and pretty much the entire world. The Federal Reserve has the ability to print new dollars as demanded by US government policies and is responsible for funding the endless conflicts that the US has been involved in overseas for the last 100 years. The inflation of the US dollar cripples the middle class and weights down future generations with debt that they will never be able to pay off.

- Bitcoin: 100% free of any kind of force, created by an individual who believed individuals should have sovereign control of their money and is 100%. Due to the limited supply cap it makes wars unfundable and actually increases in value as the years go on so you can pass it on to your children and their children.

[FireBeyond]

Even as someone who thinks crypto is an absolute cesspool, and while acknowledging that even in the "move cash" scenario that the vast majority of it is shady, from avoiding taxes to ... whatever, to be honest, I can't get too mad if it helps the "average person" who is sincerely escaping a "problematic" country/home do so.

[darth_avocado]

> Value can only teleport if someone is willing to trade traditional currency in exchange on the other side.

If no one paid traditional money to your friend on the other side, he’d have no money. Also, whoever was sanctioning the country, can also very well sanction and seize the bitcoin if they’d like.

[beAbU]

This argument is always held up as an argument for bitcoin. I swear it's sometimes the only one that bitcoin proponents can think of!

[KetoManx64]

Your "no international fee bank account" also inflates away at 8-10% a year if you're holding US dollars in savings. And about the same or more for other currencies. The Federal reserve has printed 1/2 of all dollars in existance in the last 6 years, and deflated the value of your dollar by around half.

While I can buy a cup of coffee with bitcoin, I'd rather use the federal reserve notes that are backed by nothing but empty promises from government institutions that look down on you.

[darth_avocado]

Somehow dollar held in banks inflates away savings but bitcoin that is down 15% in 5 days is safer? Hilarious

[KetoManx64]

Bitcoin is down 15% after being up 10,000% in the last decade... while the dollar is worth 50% of what it was 5 years ago. If you bought bitcoin at $10 or even $1000, what do you care if it drops down to $60k for a week?

The world must be very confusing when your time preference and economic scope is 1 weeks worth of data.