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BuyMeACoffee silently dropped support for many countries (2024)

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327 points beeburrt | 4 comments | 16 May 25 06:23 UTC | HN request time: 0.904s | source
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Nebbit123 ◴[16 May 25 07:05 UTC] No.44002535[source]▶
It's fascinating that neither the article nor the comments here include a single mention of "stablecoins" which seems like the obvious solution to this problem.
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42lux ◴[16 May 25 07:06 UTC] No.44002542[source]▶
Yeah, not as easy to cash out as you make it out to be.
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1. Nebbit123 ◴[16 May 25 07:12 UTC] No.44002567[source]▶
That's fair, but it's probably an improvement in regions blocked by more traditional financial services. In many of those regions, people may not even want to cash out to local currencies as holding a digital dollar is often more stable.
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2. lazide ◴[16 May 25 07:15 UTC] No.44002583[source]▶
That requires a rather unusual confluence of events.

Almost everywhere there needs to be a on AND off ramp, or only the most diehard hobbiest or desperate economic actor will consider it. This stuff is just too new, and there is too small an ecosystem for all but a small handful of coins for them to actually act as a useful exchange medium.

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3. Nebbit123 ◴[16 May 25 07:22 UTC] No.44002636[source]▶
Genuinely curious, what alternative solutions do you see to the underlying problem highlighted in OP's post?
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4. lazide ◴[16 May 25 07:31 UTC] No.44002683{3}[source]▶
The ones they usually use right now - holding physical USD, bartering, physical gold, real estate, etc. depending on the use case and degree of wealth.

Local currency does still get used, it’s unavoidable, and causes losses. There is no perfect solution.

One economy which fits the description is India - check out the boxes of cash hah! [https://www.livemint.com/Politics/eGzzHAcOe5VePoyCd7n0EN/Inc...], and [https://timesofindia.indiatimes.com/city/mumbai/mumbai-raid-...].

(FYI, a cr or crore == 10 million, a lakh == 100k. Even at current exchange rates, that is a lot of money anywhere, and an absolutely massive fortune in India).

But there is an element of this in ALL economies, including the US. It’s a matter of scale/ratios, not a yes/no thing.