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I wasted years of my life in crypto

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681 points Anon84 | 2 comments | 07 Dec 25 12:57 UTC | HN request time: 0.012s | source
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donkeylazy456 ◴[08 Dec 25 08:34 UTC] No.46189825[source]▶
My question is, which real-world problem is actually solved by crypto? All I know is transferring money over the border gets much easier than pre-bitcoin era.
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lionkor ◴[08 Dec 25 09:17 UTC] No.46190139[source]▶
That's the main legal use-case afaik. If you like travelling to a country that has no banking connection to your country, it might be more convenient to open a bank account or make friends in the target country and move money there via Bitcoin marketplaces. I've seen that plenty of times.
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1. diath ◴[08 Dec 25 12:37 UTC] No.46191539[source]▶
How does that work? You transfer the money in BTC, you exchange that into real money, you open a new bank account, you deposit that money, the bank's anti-money-laundering detection sees a large deposit to a newly open account and triggers an alert, the bank locks you out of the account and asks you for a proof of income/tax payment, you have no explanation of where that money came from legally, they freeze your account and report you to their local revenue services, you're SOL.
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2. lionkor ◴[08 Dec 25 13:49 UTC] No.46192183[source]▶
Oh yeah, this isn't about large sums, this is about "I need money to live there for a month".

However, with a lot of BTC trading sites, you get money from real people's accounts, so its not that crazy as long as the amounts are low.