On: I wasted years of my life in crypto

[sumedh]

> Crypto makes perfect sense if you just understand it's for doing illegal stuff.

What happens when a country's banking system fails?

[kec → sumedh]

In what circumstance could the banking system collapse but leave the electric grid and all other infrastructure which supports the internet intact?

[JuniperMesos → kec]

The internet is more resilient than that. I wouldn't want to live in a country where the banking system has collapsed, and one of the reasons is because I expect that this correlates with unreliability of the power grid; but you can run a lot of useful pieces of software on a computer powered by solar panels and batteries in the wilderness with a satellite uplink, including a bitcoin node.

[troupo → JuniperMesos]

Ah yes. And everyone in a country that suffers a banking collapse lives in a wilderness with solar power and a sattelite uplink.

[FabHK → troupo]

Yes. And if a country with say 200m people suffered a banking collapse, everyone could do a Bitcoin transaction every 40 days (assuming everyone else stopped using it), and would use only about 1% of the world's electricity. Great stuff.

[immibis → kec]

One where the president prints trillions of dollars to bail out his AI cronies.

[KellyCriterion → immibis]

++1

[lazide → kec]

Venezuela?

[kec → lazide]

Do Venezuelans _actually_ have much documented usage of crypto, or are they simply using foreign fiat like the USD and Euro?