The way I see it is we desperately need a easily fungible, verifiable, and divisible store of value. In South Africa inflation is killing us, most people can’t articulate it they just know money is worth less
If it wasn’t for BTC I would have seen most of my savings obliterated and I’m thankful for BTC!
I get your reasoning I think most developed nations citizens don’t need store of value because their banks struggle so hard to get inflation
For me BTC does what it promices and I can earn a yield on it without the fisher effect chowing any possible gains I make like it does with my fiat
I think BTC is slow to innovate and that’s fine by me! Let the Alts roll out the other functions! BTC a offers the platform all to exist and pass value through
I think as BTC matures Satoshis will also come into play more and that’s where I think the medium of exchange will kick off!
I don’t know if it’s going to happen but I See BTC as a collateralized Bond and Satoshis as the underlying currency
That's a very good point, the world is getting smaller, but is still very big.
The circumstances for me in Canada are very different from South Africa for example. Inflation is extremely low and I have zero concerns of placing my cash into an insured bank.
The utility of BTC is still concerning for me. even bonds are bought and sold to institutional and retail investors. BTC seems to be mostly shuffled around between investors on exchanges, never gaining circulation as a currency.
I have spoken to Canadians on HIVE and learning about what goes on there from what I can tell inflation isn’t an issue but you do have loads of taxes and that ads to cost to living and retained earnings.
Also not sure how crypto is handled there but if it’s similar to the UK and US it’s a bloody nightmare and might not be worth it for many
For us it’s still a bit up in the air they are obviously going to come after it eventually but while it’s still convert to fiat pay tax I can legally still stock pile this stuff without much of a tax burden
I get your concern and I agree with it, a lot of Bitcoin is just musical chairs and no real value is being created from the trade in terms of goods and services. Totally on board there and it’s something I hope happens eventually be it on satoshi or alt coin level
I just think that having value that’s internationally recognised is important.
Let’s say I move to Canada I know for sure my degree will be dismissed, my previous work experience won’t count for much, my money won’t get me far when changing it for CAD but my Bitcoin can still be sold for the same price I can sell it for in ZA I can get in Canada
I don't know your circumstances, but I doubt your degree would be dismissed and if you are in the marketing space I know that these skills transfer into Canadian markets relatively easily. If you are actually interested in moving I know of a few people within marketing companies that are looking for skilled people, and encourage remote work.
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