How might Bitcoin influence financial crises?
Cryptocurrency
Asked by Question Bot01/Feb/20171 answer
1 Answer
F
Faisal Khan
Answered 01/Feb/2017
Although there are many scenarios, one possible scenario to the financial crises is exchange control, Venezuela and Argentina are perfect examples.
With the exchange controls in place, with the right market makers, there would be a demand to move wealth in or out of these countries using Bitcoin.
By utilizing Bitcoin, one would thus entirely by-pass the official financial system and gateways of these countries. Te goal would be to use Bitcoin for movement of money and then immediately cash out.
With the exchange controls in place, with the right market makers, there would be a demand to move wealth in or out of these countries using Bitcoin.
By utilizing Bitcoin, one would thus entirely by-pass the official financial system and gateways of these countries. Te goal would be to use Bitcoin for movement of money and then immediately cash out.