I used to work at a bitcoin company, and we had large user communities in countries where the local currency was subject to very high inflation, and access to stabler currencies (like dollars or euros) was severely limited. We were actually helping proper deal with real problems, and we were proud of it.
Then the investment-tool-for-rich-white-kids mentality took over. :(
Look, I'm not trying to be a dick, but bitcoin was sold on the lie that it helps poor people. You're not wrong for wanting to help poor people. But people need to come to the realization that bitcoin has been Theranos-like the whole time. It's a waste of time if you're goal is to help the poor.
At any rate, the price instability is exactly that — unstable. It’s not systematic hyperflation. For when you don’t have access to conventional forex, it’s better than nothing.
> You're not wrong for wanting to help poor people. But people need to come to the realization that bitcoin has been Theranos-like the whole time. It's a waste of time if you're goal is to help the poor.
Yeah. That’s a large part of why I used to work at a Bitcoin company.
The local regime cannot take your Bitcoins away from you, which it could by hyperinflation, reform etc with the traditional currency. In other words, the trust in the owner of the currency is in fact higher.
Local gangsters as well, cannot take your Bitcoins away from you as easily. You have a higher chance at keeping your stash.
I can see what you're doing, you won't get away with this.
While I get it's beneficial for average citizens looking to save a bit on tax/duty fees... it's a lot like wearing a condom when both of you dont care to know each other's name. You have that practice for a reason.
Just saying "this will help the poor because they have nothing" over and over with no real plan, let alone action, doesn't make it true.
One guy I argued with once told me about him donating his bitcoins to buy pizzas for people who needed it. Which, cool. That's awesome. But the donation argument makes it sound like people dont donate dollars or euros. Or even like theres some grand mechanism that makes bitcoin better than traditional currencies... even though crypto gets converted to traditional currency so it can become useful.