I just don't see it.
I don't see how Bitcoin will set the vast majority of the world's population free, when they are already trapped in poverty cycles.
BTC requires some base things including: Internet access, Bitcoin Node access, a mobile Device.
Cash really is king. South African taxi drivers are not accepting BTC. CASH is it.
... I suppose for many it will depend on their government (and/or company) getting involved in bitcoin ... A la El Salvador
At least in SA, you can go to PnP and buy things you need (with a lightning wallet)
yeah I heard you could do that. I've never tried, not do I think the cashiers have any clue and would probably just give me dead looks.
I do think lighting intergration is coming though
so state sponsored satoshis?
I mean, we have grants already. I'd think they'd actually issue them CBDC instead, then the citizens would convert that to BTC or some other alt
El sal is more of a top-down adoption ... I guess they will have a first-mover advantage but regardless, the whole country should benefit over time (even poor individuals who neglect to save/use bitcoin)
idk man, at surface value we can say "el sal is working" but we actually don't know. I think on the ground they still use cash type systems with BTC being the reserve? Do they use lighting?
I heard they had their own system in place, but then again, all just rumours, nothing really quantifiable.
For clarity, I was responding to this comment:
"I don't see how Bitcoin will set the vast majority of the world's population free"
I would somewhat agree with the statement ...
again, el sal is interesting case study... The pendulum has swung significantly there (from crime/homicide to stability) and it seems that bitcoin is only part of that swing
Further to this, is the resistance to institutions like the IMF/world bank... Which I would find very difficult to believe is somehow only a LARP
yes, I think there was some 'freedom' that came with moving to BTC from any other currency basis, I do wonder if they hold gold.
The onboarding of the lowest LSM groups is what interests me the most. In South Africa, this is well over 65% of the population, who earn roughly ~$80 USD per week.
most of that goes towards things like rent, food and very little is left for savings, which is often just put into a traditional savings account.
