yaa_minu

Happy New Year! Just as many people here have said already, HN is really one of the few places online where one can find thoughtful discourse devoid of flame baits. Many a times, I read the comments before even following the links if at all. I've learned so much through HN. I would say that not only technical knowledge but also my English has improved massively all thanks to this forum.

This sounds good and funny at first but how is this different from this scenario: A software engineer pays a dentist for servicing his teeth and he turns around to pay the software engineer to build an appointment system for him? Clearly lots of value was created so unless this is to illustrate that GDP calculations can't filter out bogus transactions (bogus according to whom), I can't really make sense of it...

This problem seems completely unrealistic because then you simply buy through the countries they haven't banned? What you're suggesting will only work if said country is a global superpower that can bully every country to tow the line. At the end of the day, no country can produce all the "critical" things it needs so this national security defence of restrictions on trade seems like a very unwise insurance to buy in almost all cases except maybe your millitary supply chain.

Understood but in the case of crypto, you don't hand over your private keys to third-parties unlike cc where you have to hand over every information about your card in order to make payments. Thi is the main vector of stolen credit cards so I fail to see this as a serious problem.

In what ways would a consumer be screwed if crypto payments become dominant? I'm genuinely curious

I know hn is not crypto friendly but crypto payments don't have this problem at all. Many of the heurestics used to defend against these problems too end up hurting we those in emerging markets including even cards issued by local banks. I hope merchants adopt crypto based payments more and more as an alternative.

Heard about this way too late, but I'll consider attending!