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Unpopular Opinion: Bitcoin Is Not Primarily for Westerners, but Rather for the Other 95% of the World. An important clarification for those who see Bitcoin as just another financial investment.

Unpopular Opinion: Bitcoin Is Not Primarily for Westerners, but Rather for the Other 95% of the World. An important clarification for those who see Bitcoin as just another financial investment.



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30 Comments

  1. “for” us or not, westerners own most of it, have the most influence on its development, and are responsible for its creation.

    and i’m guessing the person who wrote this is a westerner. and i bet it makes him feel good to pretend he’s providing something, even if only in this empty virtue signalling form of wannabe bravery of posting an “unpopular” opinion. it’s not unpopular to pretend to care about poor people. nor is it unpopular to take our “caring” and turn it into mountains of corpses in poor people’s countries.

    and 1 final wager: i bet my opinion is less popular than yours.

  2. tldr; El Salvador is a perfect example of why Bitcoin is a unique opportunity for the other 95% of the world’s population. By building up BTC reserves for its country now, El Salvador will get a huge head start on other economic powers that will come to build up Bitcoin reserves sooner or later. By supporting the Bitcoin system, you will be helping millions of people around the world benefit from this system.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. I guess you’re not familiar with the message Satoshi left in the genesis block?

    > The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

    That’s aimed squarely at Westerners and modern banking.

  4. Bitcoin, like the internet and email, is for everyone.

    It needs those westerners supporting it and laying solid foundations just as much as the early internet needed westerners building things like accessible email clients, search engines and trade hubs like eBay for the rest of the globe to hook into.

    We can liken this to how in Africa the 70% of unbanked people there were able to skip banks altogether and begin trading via MPESA mobile phone credits.

    That couldn’t have happened without western tech companies like Vodafone laying the foundations and rolling out cellular infrastructure there. And Vodafone couldn’t have happened had it not been for a few maverick scientists and inventors in the West asking “What if?” and s whole bunch of westerners helping fund their vision.

    A good example of that unfolding in the bitcoin space would be companies like Blockstream who asked “What if we could beam bitcoin down to impoverished places on the globe via a bitcoin Satellite network?*

  5. It’s the main reason I buy Bitcoin. It provides direct practical value to millions (eventually billions?) of people in developing and un-banked nations

    Providing a way for people to easily store and transfer wealth (locally and globally) is going to uplift those nations very quickly (i.e. within decades)

    Western nations will want to trade with these countries, and Bitcoin will be the preferred currency

    Bitcoin is just getting started

  6. This is the mental gymnastics someone has to do to convince themselves they are a good person and not part of the problem of wealth inequality.

    I am part of wealth inequality and i want to make it more unequal by destroying 3rd world countries for profit an i am ok with this. Its why i can see how stupid this article is

  7. I love to hate these articles wich suggest every western is a multimillionaire. You realize that “the west” is not only the US right? And even then, there are plenty of poor people in the US. Gladly downvoted.

  8. Too bad that westerners have bought all of it and no one can afford it now. If Bitcoin actually goes mainstream and becomes the defacto digital gold, this is the biggest transfer of wealth from the 3rd world to the west, the world has ever seen.

  9. I think op means to say it’s easier and probably more practical for 3rd world countries to adopt btc as legal tender since they can probably really use it to hedge against their devalued currency. The u.s will most likely never make it legal tender but it’s investors can probably make a pretty penny while it gains global adoption. I think the Ukraine is looking into making it legal tender at last I checked they’re considered part of the west.

  10. CIA planned and executed this years ago. Help to usher in a one world order which goes hand in hand with one currency. Not saying it’s BTC but we all already use digital currency. Your chipped debit card is a prime example. Pull profits and buy dips then rinse wash repeat.

  11. Of course! It’s only made to help people in poverty, it has nothing to do with greedy whales and institutional investors, right? Right?!

    If we wanted to solve poverty, we could if we really wanted to. Giving impoverished people a device that they can use to transfer or hold money with isn’t going to change that. Don’t fool yourself, the only thing crypto has done so far for the world is making the extremely rich a lot richer and slurping energy consumption for thin air.

What do you think?

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