Bitcoin : Palestinians using Bitcoin to avoid banking hell in the Occupied Territories
We’ve heard this story before. Imagine you can’t transfer money in or out of your country, what do you do? But the kicker comes from Saifedan Ammous, roundly-ridiculed BTC maximalist:
*As such, Saifdean Ammous, the Palestinian-born author of “The Bitcoin Standard,” is skeptical about any claims that the cryptocurrency currently offers a solution to his homeland’s economic straits.*
***”If the people who want to do the transaction don’t both have balances in bitcoin then you’re just adding extra layers of conversion from their home currency to bitcoin and back to the home currency,”*** *said Ammous, who is a professor of economics at the Lebanese American University. “That’s never going to be a sustainable solution.”*
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Is it just me, or is this guy a moron? Of course a broker will have both cash and coin, making money on a spread like every other broker! Obviously converting to and from Bitcoin must be easier than dealing with the banks, otherwise no one would be doing it.
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Author: horsebadlydrawn
Score: 18
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