Quote:
Originally Posted by Slava
You might be able to do something like that, but I think it would affect the legitimacy if that was the only way to buy it. I know it's extreme, but say Somalia was the place. Who in their right mind plunks down $10k for a bitcoin if that's the home base?
There are some growing pains to be reckoned with for cryptos. First, they need to be fully legitimate, otherwise it erodes their value. But then to be fully legitimate, they want to be largely unregulated, otherwise people can just use the already available methods.
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"Home bases" for cryptocurrencies don't exist. There's no borders to them, even if banned in certain countries, nodes will be spread all over the world.
But let's take your example and say I had to for some reason travel and stay in Somalia and they were bitcoin-friendly. I would 100% choose to use bitcoin over whatever fiat currency they have.
Let's remember that bitcoin/cryptos are divisible. There's no need to buy $10K in bitcoin if all you need for a trip is $200.