this post was submitted on 14 Apr 2024
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Bωockchain
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Gold?
Its heavy and can be stolen from you.
And crypto can't?
Whats your point? If you are a teenager and your parents gave you their wedding rings as you are off to become a refugee, versus getting given a note with a string of letters and numbers on it, whats more likely to get stolen in a refugee camp?
Like if you think you are dunking on crypto bros and thats what you want to be doing, you should make sure you are actually dunking on them. There is plenty to pick on, plenty of stupidity and criticism to be made fun of around crypto like monkey pictures and the environmental impact, but brah, this ain't it.
Put yourself in this situation. You are in Gaza. Your entire family is getting bombed. You've been putting whatever meager savings you have into crypto for years. You give your kids a note that has the key's they'll need to get into the wallets, and have them pin it inside their jackets, or better yet make them memorize it. Maybe you as a parent die, but your kids make it out. Someday, maybe they get to some where more peaceful, and when they get there, they can access what you were able to put aside for them.
In that way, crypto actually represents an excellent way of dealing with many of the issues one might expect to encounter in a war torn area.
You could do the same thing with basically any online bankaccount?
No, you can't. This is literally the entire premise of crypto.
Firstly you can't just open a bank account in another country if you come from a place like Palestine. It's not that simple, or even potentially legal. And a bank isn't going to break the law on your behalf.
If a bank blows up because another country blows the shit of of yours, there is jack shit you can do. Or if the currency becomes worthless or ceases to exist because your country ceases to exist. Or the government just says "we need to take the money from the banks to find the war efforts, well pay you back when we're done".
It's an interesting example of a very, kind of surprising niche use case where a distributed trust less ledger is actually a better solution.