Evan Boehs website Mastodon PGP Key email A drawing of an astronaut in space United States is wondering what's in his wallet

When banks fail

Mon, 28 Feb 2022 00:00:00 GMT

Today, Feb 28th 2022, Russia has been economically air gaped from the rest of the world. No money in, no money out. Today, a major success for crypto, as Russians adopt it as it is their only option to make money.

A major talking point of cryptocurrency is what if banks fail? I never believed it would happen, what could take down the banks? It just happened.

Maybe, cryptocurrency lovers have some tiny point. Maybe we do need a system that can be stopped by nothing? Maybe bitcoin is that?

I’ve always hated cryptocurrency, but who am I to tell someone they need to go homeless because of my ethics?

I’m dying for a solution to the problem in Russia that does not involve crypto, but I’m beginning to consider the remote possibility that possibly crypto is that solution.

(To be clear, I’m not suggesting all cryptocurrency is good. Ethereum, Web3, crypto based decentralized apps, NFTs, the thousands of currencies are all stupid still)

If you have a solution without the need for Bitcoin please send a webmention or an email.

Edit: March 19

Revisiting, it was a mistake to assume no one could control cryptocurrency. It’s trivial for a government to shove their asses in.