Quote:
Originally Posted by afc wimbledon
these countries all just happily use the US dollar now, their economies function, not as well as ours but they operate, now I could see an argument for a centralised Government controlled crypto coin that the IMF or some other trustworthy body would operate but the answer to corrupt untrustworthy Governments isnt corrupt untrustworthy bit coins whose main function seem to be to provide avenues for 25 year olds to get scammed out of everything in a manner previously restricted to fake roofers ripping off geriatrics
'we were in the area making someone else rich with this bitcoin and we had some left over, I can sell it to you for half the price it would normally go for missus, but you have to decide quick before my boss gets back from vacation'
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I question if these countries are happily using the US dollar. The U.S. is able to employ quantitative easing to pump money into businesses and citizens to prop up the economy with the side effect of future inflation (hopefully offset by a growing economy).
A foreign country using USD has no such lever. They are unable to stimulate their economy with government stimulus and yet suffer devalued USD to both citizen and government coffers. They suffer all the disadvantage with none of the advantage.