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Happened in the 90s where I live. Hyperinflation set in and government just froze everybody's accounts in a desperate attempt to stop it. It's 2023 and people are still afraid it might happen again, especially with a literal communist in power.

Cryptocurrency is absolutely valuable as a defense against government idiocy. That fact cannot be denied.

And an easy way to lose everything because you sent tokens to the wrong address, forgot your passphrase, lost your hardware ledger, fell prey to some scam or another, house burned down, etc.

Sure. Doesn't negate the benefits though.

This is all solvable and in fact solved, just not integrated in the wallets.

Find “ el corralito” in this article: https://www.freethink.com/hard-tech/crypto-argentina-black-m...

The article explains why cryptocurrencies are in use in Argentina despite the risks: mostly because Pesos or USD can have worse risks.

Happens all the time.