And with the ever-increasing inflation of 40% YoY and government restrictions on the ability to convert foreign currency to local currency, crypto P2P is a saving grace here.
I do think most crypto stuff is probably still a scam, but the ability to buy stable coins and sell them to someone local here for peso's by getting 2x more than I would with the official central bank rate is a godsend.
Last I lived in an unstable Latin America country with inflation issues, the common solution was just to buy dollars. So much so that the country, Ecuador, eventually just switched over to using dollars entirely. So I can believe it's possible that people are trying to do similar things digitally when they don't trust the local currency. But given the user-hostile nature of a lot of the cryptocurrency systems, I suspect they aren't doing all that much of it. As an example, look at El Salvador's clown-shoes attempt to switch over to using Bitcoin.
So as much as I grant the theoretical potential of an imagined version of cryptocurrencies to be useful, I'm still pretty skeptical of the actual use of actual cryptocurrencies, even under those conditions.
