That's not why it failed. It failed because we had an extremely stupid military dictator with racist tendencies that carried out brutal massacres there.
Crypto for remittances is a great option for us personally. Transferring funds internationally is a mess to say the least, and it only gets worse as the amount you're transferring scales.
The UK is where the world's dictators and corrupt politicians hide their money. Does that mean you think that the UK should "face the full brunt of Iran/Russia style sanctions"? Take your double standards elsewhere.
Gen Z kid here; my friend group largely doesn't care in the slightest about the war in Ukraine. We think what's happening is wrong, but we don't see the point in doing anything ourselves. The Middle East was bombed for decades while no one had the spine to really do anything about it. We didn't even have the virtue signalers that you see online today. Why should we care when it happens to Europe?
This is all without mentioning the fact that the war exposed a lot of the biases we knew were present in the media- how many reporters just straight up admitted that they care more because the people dying are white this time?
As someone else on this post said, Europe is a rich peninsula with enough money and manpower to handle Russia by itself. If they want American help, they can buy American weapons. America has committed enough war crimes over the past few decades. We don't need to expand that list and further risk the future of this country, which is already looking bleak.
AFAIK there are no FDIC insured stable coins - there's apparently USDF[1] which is being promoted by FDIC insured banks but the coins themselves aren't subject to FDIC insuring and could quite possibly either bankrupt the backing entity or be abandoned in the case of a bank run.
In that case, and with the caveat that deposit insurance is wired and uncertain at the best of times, that makes stablecoin a regulated bank.
This makes it for for the user. I don't see how a bank can comply with banking law though. How does a bank prevent criminals, sanctioned orgs, money launderers or whatnot from using it?
It's possible that regulators will leave a loophole like this in play. They aren't always sharp.
What that is, is a bank where account are a wallet. It's still a USD bank account.
> I don't need to complement them, and I don't sink hard earned money into hedges I don't need.
> You enjoy your tulips, I'll enjoy my hilltops an friends.
If only all people who are not interested in crypto would be like this.
It does not have to be for everyone, but if it is so useless, I wonder, why it makes so many fiat enthusiasts so anxious to the point that they attack crypto enthusiasts.
I don’t think you understand how hard it is to protect your savings when all you have access to is 3rd world banks. I’d rather have 10k in eth then say Russian roubles or whatever shit local currency
People in Eastern Ukraine did not have to protect their money from Puting until very recently. Now people are taping cash to their bodies in order to evade the war zone without getting it stolen.
This one's a personal favorite of mine: https://www.youtube.com/watch?v=SUqRXjCM8Gg