Comment by gumby
21 days ago
Interesting!
I just looked up the world bank’s estimates which say remittances are around $850B (including direct co-party islamic cash transfers, illegal in many countries). The amount using crypto is about $26B, so about 3%, hardly material at a macro scale (might be a big deal for a small country) so losing this would not be noticeable to the global economy.
You could delete a small country from existence and it wouldn't affect the global economy much, not the best measure of impact imo.
As I mentioned, I’m sorry for the misguided and nitwits who lose their money too. Not the grifters though.
And I’m from a small country and I have no illusion that many people would care much if Australia were leveled and all the people killed by a series of bad earthquakes. There would be sad headlines for a few weeks and then something else would get everyone’s attention. That’s why I was asking about anything at the global scale. Someone replied with the Hormuz Strait, and while small, it does have an enormous global impact. But that was the only such answer I got.
(BTW geologically that’s pretty much impossible to happen to Australia - -it’s just an example).