> In places like Argentina you're forced to use and hold a currency that's depreciating 50% a year. Can we please stop banging on with this trope that BTC is somehow the magic savior of poor people in oppressive regimes? This has been beaten to death already and is just bs. Please try to look out of your western high-earner bubble and see that the majority of poor people in countries like Argentina, Afganistan, Zimbabwe, Venezuela, Cuba, etc. that suffer from that rampant inflation have not enough money and assets to buy into the bitcoin ecosystem and make it work on a daily basis.
Again, in those countries, only the corrupt rich benefit form this new digital money laundering, tax evasion feature of BTC, as the average Joe there can't afford the $26(??) transaction fee every step of the way when that's the cost of their family groceries for a month.
Everyone in those countries with failed currencies use stable fiat like USD or EUR to fend off inflation, not BTC. BTC hasn't democratized wealth, but concentrated in the hands who already owned lots of fiat/assets or those who have access to free energy for their mining enterprises. Poor people in poor countries have not benefited form BTC.
I'm not saying that there aren't poor people in Argentina who put all they had in BTC when it was low and sold high and got out of poverty, but that's more akin to playing the lottery than an actual sane financial strategy for staying solvent.
>I don't know where the author is from but I am almost certain he doesn't live in an authoritarian regime with capital controls
But do YOU live in an authoritarian regime? Or are you blowing smoke based on how you imagine life is in those countries from your cushy western perspective and stuff you read on reddit? Because I spent my childhood in a broke totalitarian regime.
Can we please stop banging on with this trope that BTC is somehow the magic savior of poor people in oppressive regimes? This has been beaten to death already and is just bs. Please try to look out of your western high-earner bubble and see that the majority of poor people in countries like Argentina, Afganistan, Zimbabwe, Venezuela, Cuba, etc. that suffer from that rampant inflation have not enough money and assets to buy into the bitcoin ecosystem and make it work on a daily basis.
Again, in those countries, only the corrupt rich benefit form this new digital money laundering, tax evasion feature of BTC, as the average Joe there can't afford the $26(??) transaction fee every step of the way when that's the cost of their family groceries for a month.
Everyone in those countries with failed currencies use stable fiat like USD or EUR to fend off inflation, not BTC. BTC hasn't democratized wealth, but concentrated in the hands who already owned lots of fiat/assets or those who have access to free energy for their mining enterprises. Poor people in poor countries have not benefited form BTC.
I'm not saying that there aren't poor people in Argentina who put all they had in BTC when it was low and sold high and got out of poverty, but that's more akin to playing the lottery than an actual sane financial strategy for staying solvent.
>I don't know where the author is from but I am almost certain he doesn't live in an authoritarian regime with capital controls
But do YOU live in an authoritarian regime? Or are you blowing smoke based on how you imagine life is in those countries from your cushy western perspective and stuff you read on reddit? Because I spent my childhood in a broke totalitarian regime.