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BitcoinEkasi 3mo ago

Imagine being so clueless that you confuse Bitcoin with beef, mutton, and apples...

And then, mere months later, claiming that Bitcoin risks global financial stability.

Wait, so Bitcoin = Apples = Beef = Global Financial Instability..? 🫤🫠

You best stop eating apples then.

Now imagine such confused person being the governor of a central bank.

His name is Lesetja Kganyago, and he's the governor of South Africa's Reserve Bank.

https://blossom.primal.net/eba8e4d935a862a44b14060bae4acf3123647aacd4020125fa342a4101831ca8.mp4

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S!ayer 3mo ago

Legend though, doesn't understand Bitcoin but allows for cryptocurrencies to run, and has managed inflation better than any other central bank in the world.

Raised rates in 2021. Inflation only rose a few basis points vs the rest of the world.

We really do have the best central bankers

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Pana - The Refuge Network State 3mo ago

Interesting that he's done so much.

Instead of berating him, maybe multiple people should take up the mantle of educating him on #Bitcoin until he understands it. Not everyone has the privilege of a proper explanation.

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S!ayer 3mo ago

Well he's been head of the central bank for a few years now because of his gravitas.

I don't think it's that he doesn't understand Bitcoin, it's that a reserve needs to be understood in context of what a reserve means, not just because you say it is a reserve.

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S!ayer 3mo ago

Just to be clear, he's on a panel with Bitcoin industry consortium pushing for Bitcoin reserves and he's sort of sub tweeting them by saying, "so what?"

Fundamentally, it's public policy that defines what is both valued and what is in reserve.

But you can see scaramuchi et all is glossing over lol

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Aviatrix_voyager 3mo ago

As the governor of the central bank, the very least he could have done was exercise some due diligence in grasping the basic concept of what was being proposed. He’s instead making a very ignorant comparisons.