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0 pointsrosywoozlechan6y ago0 comments

I believe I've read about people in developing countries with high inflation in their government's currency rely on bitcoin but I don't know how true that is. I've never bought anything with bitcoin and I hope I never have to.

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5 comments · 3 top-level

colechristensen6y ago· 2 in thread

Which in most cases wouldn't be legal locally, which fits under money laundering. Morality might be a little more indeterminate depending on the situation.

AgentME6y ago

It's only money laundering if you're using cryptocurrency to get out of paying taxes or to hide criminal activity. It's not money laundering to buy something instead of keeping your money in a currency undergoing inflation.

colechristensen6y ago

Money laundering is attempting to hide the source or destination of funds. Hyperinflation states will usually have strict currency controls in place and Bitcoin is useful in that situation to get around those controls, the whole idea being... its usefulness in hiding the flow of funds.

Nursie6y ago

This appears mostly to be wishful thinking by bitcoin gamblers in non-developing nations.

reidjs6y ago

See Venezuela

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