(Replying to PARENT post)
It obviously isn't cash, it isn't even money - that's the reason the amount received is stated in something else, namely dollars, which this has to be exchanged into to be useful.
What happened here is a wire transfer, not different from me sending money from my bank account to someone else bank account. Just with two additional transformation steps (make money into whatever crypto, make whatever crypto back into money).
👤sgift🕑3y🔼0🗨️0
(Replying to PARENT post)
PayPal and bank wire transfers still work in Ukraine, so this not a particularly good example of a crypto use case.
Russian hackers demanding ransom payments in bitcoin—thereby circumventing economic sanctions—now that is a legitimately illegitimate use case for crypto.
👤chrischen🕑3y🔼0🗨️0
(Replying to PARENT post)
Fair enough - I actually do think bitcoin is the only use case of this crypto stuff that remotely makes sense. Its not without issue, but its passed the proof of concept stage into something sort of useful for some people.
👤bawolff🕑3y🔼0🗨️0
(Replying to PARENT post)
Ah yes. Desperate people in need have received a bunch of fantasy novelty tokens that they are going to use... how exactly?
👤dmitriid🕑3y🔼0🗨️0
(Replying to PARENT post)
This happened primarily in a matter of hours. In cash. Across borders. Without being subject to sanctions or restrictions by any country.
It may not be your use case, but it has definitely "put up".