Hi HODLers,
Bitcoin's strongest value proposition is for people living in Emerging economies.
Something that most Westerners tend to forget, the main proposition of Bitcoin is to free you from the control your government has on "the money".
A few example with unfortunate recent events:
- Nigeria, where the gov is tryng to force the adoption of its digital currency by banning cash, people have been trying to move to bitcoin to protect their wealth.
What did that do to Bitcoin? It made a huge premium for bitcoin in Nigeria over the price in dollars in the U.S. Bitcoin costs almost double in Nigeria.
- Lebanon,
where the banking system has all but collapsed.
he Lebanese lira lost 90% of its value and the government makes it almost impossible to buy dollars. One of the only way for people to save is through bacl market dollars and Bitcoin!
Bitcoin users around the world
- Vietnam,
which last year was #1 in the Chainalysis rankings for cryptocurrency adoption.
Fun fact:
only slightly more than 30% of all adult Vietnamese having a bank account, the country has one of the world’s lowest rates of financial inclusion.
If only people knew about Hive and its ecosystem in these economies...
Thankfully some do! Mostly in Nigeria, Venezuela and Argentina!
Stay safe out there,
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Argentina 30% of people use USD stablecoins for purchases up to 1000 USD.
Any country needs bitcoin, but Argentina is sitting on a hoard of resources that EVERY country wants and they're going to make a fortune. 8 years from now they could be richer than the UAE Qatar and the Gulf Oil States. That's because in addition to untapped but already having pipelines for petrol, oil, and LPG (liquid petroleum gas - 25% of which exports to Brazil) they're sitting on the hottest fuel in the electric vehicle powered era - The immense Lithium Triangle. A cherry on top is the foot of the Andres lies a bonanza of conductive, copper desposits. Argentina's going to need no dollar reserves. They got $9B equiv in Yuan for some of the first exports to China, thy got $900 M in Euros coming from Germany who since 2/5 shut down all exports of oil or petrol from Russia are now buiyng from Argentina like all other EU nations after the deadline has passed and no long Russian oil gets out to Germany or the EU. Im tired but super stoked. Argentine family, visiting soon. Love the fact its all right there to blow people away. VINO stock I like. Argentina is a great planned and clean papradise. Woul'd fly tonight if invited. Thanks for sharing!
I had heard that the situation in Lebanon was serious, your post gave me further confirmation. I would say that even in that country Bitcoin could help the population. !LUV
@vlemon, @stefano.massari(1/4) sent you LUV. | tools | discord | community | HiveWiki |
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very nice this post. I'm surprised that Vietnam ranks first. You opened this post with an excellent definition, namely that first of all Bitcoin born to have a finance free from someone else's control, this is really the first thing to say !PGM
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