I still don't understand this argument. You have to convert bitcoin into some kind of national fiat currency to actually buy things with it. At that point the government that controls that currency can impose whatever restrictions they want.
ie, in the US, I can't sell bitcoin and withdraw US dollars using coinbase without providing identification documents. The US government will have a record of the transaction that enables them to tax or seize the funds. This seems like it's the case with any government and coin wallet.
Unless Navaly can buy ads or pay staff in bitcoin, what good does the money do him? Given the current volatility of the BTC price at the moment, it seems even less valuable for doing anything practical. He'll have lost 20% of his millions raised just this week.
Can the average Venezuelan buy groceries or pay rent with bitcoin? Don't they need to convert to bolivars at some point to take part in the normal economy? Maybe I just don't understand this and someone can explain it.
ie, in the US, I can't sell bitcoin and withdraw US dollars using coinbase without providing identification documents. The US government will have a record of the transaction that enables them to tax or seize the funds. This seems like it's the case with any government and coin wallet.
Unless Navaly can buy ads or pay staff in bitcoin, what good does the money do him? Given the current volatility of the BTC price at the moment, it seems even less valuable for doing anything practical. He'll have lost 20% of his millions raised just this week.
Can the average Venezuelan buy groceries or pay rent with bitcoin? Don't they need to convert to bolivars at some point to take part in the normal economy? Maybe I just don't understand this and someone can explain it.