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Bitcoin is life saving. (Specially for someone from a third world country)

Bitcoin might seem useless to a lot of people, but for someone from a third world country, bitcoin is life saving and it is much more valuable than the energy it uses.

For us all the options to save our money is very bad,

Here is the most common ways to save/invest your money and why they are bad:

1- Saving in national currency in banks (national currency loses a great amount of their value yearly and banks can run out of money or national currency loses all its values).

2- Saving in dollars in banks (Banks can go bankrupt or deny you from withdrawing your money, or even force you to withdraw your money in national currency like what happened in Lebanon and lose 50% of their values, or can simply tell you there is not enough dollars to withdraw) [Lebanese banks dollar withdrawal rate at 3,000 pounds, half official peg](https://english.alarabiya.net/business/economy/2020/04/27/Lebanese-bank-set-dollar-withdrawal-exchange-rate-at-3-000-pounds-half-official-peg).

[New lira withdrawal restrictions create a cash crunch for depositors as banks blame BDL](https://today.lorientlejour.com/article/1273709/new-lira-withdrawal-restrictions-create-a-cash-crunch-for-depositors-as-banks-blame-bdl.html).

3- Saving in gold/dollar/national currency at home (you can easily get robbed).

4- Saving money in real state is not safe since coups and revolutions are a bit common in our countries and you might need to take your family and flee the country in a day.

Also try to withdraw your money from banks, or take your hidden gold from home in case of a revolution or a coup to flee the country.

I used to be worried all the time about where to save my hard earned money, and where to invest them, till I found out about bitcoin and went down the rabbit hole a couple of years ago, I became so fascinated by it and started investing all my money in it, and spending from my saving bank account.

Sorry for my bad english =)



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15 Comments

  1. Yes, I also believe that Bitcoin will turn out to be a lifeline for people who live in a country with a failing banking system. That will sooner or later be everyone anyway.

  2. I am so happy you have found bitcoin! It was engineered to solve these problems for *everybody* on this planet but I am especially happy it’s available for people who need it the most. This technology is more important than most realize.

    Someday the bitcoin standard will permeate all of the world. Good luck to you out there! Respect and well wishes.

  3. If your third world country embraces Bitcoin, it will transform into a first world country in short order. That is because Bitcoin can’t be corrupted by govts like fiat money can. Once you corrupt the money, you corrupt the people

What do you think?

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