Post
Topic
Board Economics
Re: Venezuela Is Now More Than 50% Dollarized, Study Finds
by
Hydrogen
on 22/01/2020, 10:33:23 UTC
It will get adopted in rich countries - rich regulated countries.


Years ago, when europeans were afraid the euro would crash and lose all of its value. They bought big screen TV's, electronics. Anything they thought might hold its value better than fiat. Hyperinflation doesn't appear to be a major concern atm. I guess people truly believe militaries of the world will simply invade and steal from foreigners if their government bankrupts.

Investing 101 Protip In The Year 2020: "Worry not if you're government bankrupts on debt. They will simply invade foreigners and steal their capital and goods to compensate."   Roll Eyes

Realistically, we should collectively be more concerned over matters relating to deficit and debt. The world it seems has gradually become more "reality optional" and its difficult for people to want to think about anything. Even topics strongly correlated with their own future health or survival.


I have this worry about cryptocurrencies from all the time. If there is a situation in a country then the first thing they stop is either Internet or electricity, it will be harder to use a crypto in that moment. Was there any solution for this in crypto.? Has anyone thought of something to solve this issue..?

The closest thing I've heard of is kong cash based cryptocurrency.

https://kong.cash/

But even that is electronic, if to a lesser degree. Based on smart contracts if I'm remembering correctly.