Those who complain about Bitcoin in a first world countries and stable currencies, realize its not for you then. It’s for the Billions of people oppressed in dictatorships globally through financial censorship

Those who complain about Bitcoin in a first world countries and stable currencies, realize its not for you then. It’s for the Billions of people oppressed in dictatorships globally through financial censorship

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  1. All people have different reasons for crypto.

    Some reasons are more pragmatic, some are greedy, some are odd, some are humanistic and more.

    The thing is that if cryptos can support a need or want or usefulness in many different enforcements of life for several reasons it’s good for everyone.

    And complaints? Well, complaints have a use. Changing things (hopefully to the better) would be one.

  2. From practical perspective, bitcoin is not a solution for them.

    The countries that suffer hyperinflation (not ordinary inflation) barely have enough purchasing power to even cover for fees. A month salary in venezuela (according to a redditor that posted regular updates on this) is not even enough to pay for btc transaction. With monthly salary of that amount, the ones who often transacted with bitcoin is not an average joe.

    Not to mention that these people might not even have both device and stable internet to be able to have constant access to their asset and be able to onboard and cashout properly.

  3. Right, poor people (who have savings to put into crypto) in oppressive dictatorships (that let them have bank accounts and send their money to a foreign exchange).

    Spoilers: the only person profiting from crypto in North Korea is the government, using it to bypass international sanctions.

  4. I saw arguments for crypto currencies but none for bitcoin. I’m unconvinced that bitcoin with slow transactions and stupidly high fees and volatility is of actual practical use to oppressed people where their weekly wage probably wouldn’t pay the transaction fee, not to mention the lack of internet access and education posing barriers to its adoption. How do you buy your bread with that transfer fee and when the bread might be double or half the price day to day?

    Was there actually any sourced claims in that video about it’s day to day use in underdeveloped countries? The only sourced claims I could see were for moving wealth in or out of the country. I.e. Wealthy people who can afford the fees engaging in foreign interference or sending money to family members who use it to flee the country.
    It seemed like the video pushed that bitcoin will liberate impoverished countries when the sources provided just seem to affirm its existing use for foreign interference and wealth flight. The people who need liberating aren’t being liberated by bitcoin.

    These people don’t need bitcoin, they barely even need cryptos more broadly. Bitcoin won’t repair a broken/underdeveloped economy or repair a dysfunctional government, arguably it may worsen things by providing escape routes for the wealthy to avoid taxation that’s needed for vital services.

    I think crypto currencies have potential but I think the claims of bitcoins utility to oppressed people in this video are way way overstated.

  5. Most of the coins are owned by wealthy people in wealthy countries though, and it’s kinda inherent to the crypto game that early adopters profit the most. If anything Bitcoin punishes late adopters more than other coins because it has supply inflation that goes to literally 0%.

  6. Are people still holding on to this pipe dream that bitcoin brings revolution and monetary stability to people in need? A volatile asset everyone uses for speculation with shitty underlying tech is the last thing people in Venezuela need.

    In terms of fulfilling the goal which Satoshi envisioned, bitcoin is a massive failure

  7. lol what? I’m from Mexico and crypto talk and crypto people confuse the hell out of me.

    I don’t know how you can talk so much for so long about simply buying a thing. There’s nothing else (unless you’re day trading and scalping but at that point it’s kind of irrelevant whether you’re trading crypto or forex or stocks). All there is to crypto is you buy a thing, wait some years and check if you’ve made a profit. And in Mexico like 90% of us can’t afford to buy any of these things even if hugely profitable because most of us need to use the little money we have on living expenses.

  8. I have a question I’m hoping someone could help me with. When it comes to individuals who are trapped in countries such as North Korea or other dictatorship, the money that they make from Crypto can they even use it as its very limited what they can buy/own I presume other then food?

  9. How can u say its not for 1st world countries, when BTC has stupidly high fees, you think 3rd world people who keep earning less and less money are ok with the current fees? Fuck no

  10. WTF?

    Do you even understand Bitcoin?

    Bitcoin is not a currency, it is a wealth commodity to transfer larger amounts of value between entities. It has a transaction rate of ten minutes if you get in the next block. No one is going to buy a soda and wait around for 10-20 minutes for the transaction to clear.

    Fuck for all, people need to start learning about what various coins/tokens do and why they do it. This business of paying any attention to shit coins only hurts everyone in the long run. It about time to get serious about crypto, I understand lots of people made bank on shit coins, but we really need to start supporting coins with legitimate value.

What do you think?

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