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Replying to

Fiammetta

https://youtube.com/shorts/5RjsDQIIEYk

Francesca Albanese, UN rapporteur, has been sanctioned by the United States.

The result: bank accounts closed, and no way to open new ones, not even in Italy.

This is not an isolated case, it proves that the “right” to a bank account doesn’t really exist.

One political decree and you’re erased from the global financial system, fucked.

When access to money depends on someone else’s permission, that’s not freedom, it’s blackmail.

The answer is not new banks or new laws, guess what is is…

#bitcoin

Zaploop 3mo ago 💬 1

Still cashing out without a bank account is quite challenging. If we keep hodling and Bitcoin does not become a true mean of exchange, they win anyway. If BTC stays just store of value we fail, exactly for this reason.

Imagine buying stuff today with Bitcoin only in a country with no or low adoption. Almost impossible.

Services like Bitrefill may help but are still centralized. P2P exchange in person? not easy when all the eyes are on you and everybody helping you risks fines and jail.

Lightning adoption? Still not enough…

We probably need to orange pill more businesses to accept BTC payments.

Saying BTC is the solution is too simple, we are not there yet. Cashing out without a bank account is still too fragile today.

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Discussion

waxwing 3mo ago 💬 3

You'd be surprised how practically possible it is to live without bank accounts in certain parts of Latin America (and not only), if you're pragmatic about it. Bitrefill, debit cards you can charge, tons of exchange places that accept both bitcoin and (much much more) usdt, and most important of all: countries where cash transactions remain the norm. A huge reason it seems so bad in much of Europe is because cash is slowly being softbanned.

Zaploop 3mo ago

Sure, but then you force a person to flee their country. You impact lives, families… not as easy at it seems. We cannot settle on the status quo. We need to keep fighting. This is not enough.

Real world experience also in countries like El Salvador shows that living on a bitcoin standard is still a dream.

waxwing 3mo ago 💬 3

I've lived in El Salvador for 3 years, mostly on bitcoin. It's not just a dream. To me the actual unrealistic thing is to try to push bitcoin adoption in jurisdictions where there is very little motivation. You have to "read the room", so to speak.

Zaploop 3mo ago

Also accepting the status quo is risky. What if the IMF crushes down on El Salvador (like they are doing apparently). I do not want to live a life escaping these guys jumping from country to country. We need to stand up and fight everywhere in the world for adoption. They need to fear us not viceversa.

waxwing 3mo ago 💬 1

Right, there's no total solution in jumping jurisdictions. It can't work for more than a small minority. I'm more just saying that in some scenarios, you can't expect much in terms of adoption at the level of everyday life. Progress tends to occur at the edges.

Zaploop 3mo ago

100%

Zaploop 3mo ago

Bitrefill: could be shut down, forced to KYC.

Debit cards: 99% KYC, 1% at risk to be shut down with your money on it

Places accepting bitcoin: as said, not many, unless willing to relocate, but mixed feedbacks from those who tried.

Cash: you need to have a job where you can earn cash in an economical world fighting it like hell.

IMHO the lever is increasing the number of places accepting bitcoin and people spending bitcoin. This is in our hands.

All the other ways out will be too fragile.