But all this is assuming they want to convert it into another currency at all, I was thinking why not just use it in that form for international trade although some of the other comments have explained the dollar amount equivalent wouldn't be able to exist right now due to mining limits.
But why not use a combination then of crypto, precious metals, and just straight up raw currency. I mean if chinas bank doesn't want to accept it they could just ship a container with money in it directly to them right?
I mean criminal enterprises move BILLIONS all the time without banks so I don't see how its so hard for two of the larger nations in the world.
Edit: I'm guessing the conversion into the Yuan would betheissue with sending them straight up cash huh?
See this was what I was really wondering. Some cryptp like Dogecoin and Monero have unlimited amounts that can be mined and while certainly not practical in my mind I was 100% thinking why not just mine a fuck ton of Doge or something and have it agreed upon that that is the international trade money.
I do see how converting it into a fiat currency would be problematic though but in that case wouldn't gold or silver also he able to be utilized?
Lol well this depends on the crypto used and its hard to think that bank fees of any kind would be better than to just pay the fee to speed the transaction up.
Also, presumably they would use dummy wallets and not send amounts from their cold wallet with the full amount on it.
Idk, just seems like they deserve the trouble at this point if they can't utilize the ways around it.
I saw that on an article about the MiG switch before it came out and it was saying at the time that you could still fake certs and Nintendo didn't have a monitoring system in place for it.
I'm sure they've changed it now though especially from that other users comment you replied to but was halfway hoping someone might tell me it was still possible.
Are you saying that increasing prices of a good or service to the point where people don't want to pay for it anymore doesn't contribute to a rise in black market sales and distribution of the good or service?
so when you freeze your credit your credit score can't go up either?
Paying things on time has no effect at that point then right?