Replying to Avatar Latrica

#Nostr family. I have a few serious questions…

The Great Depression of epic proportions is on the way. It will affect people globally. Bitcoin can be a solution out of this mess.

People will say, “Bitcoin fixes this.”

My question is…How? I’m willing to have an intellectual dialogue.

How many people in the world currently have Bitcoin? How many people are paid in Bitcoin? How many merchants accept Bitcoin?

If the average person around the world can’t afford to buy Bitcoin (even small amounts), how does the Bitcoin economy work?

In a typical economy, people work a job. They’re paid a salary (typically currency). And the currency is used to buy products, goods and services. The person receives the currency to pay for other things. That’s a basic way of currency moving in an economy.

If we want a Bitcoin #economy, do we use the same method? If so, who’s paying in Bitcoin? What companies are hiring and paying employees in Bitcoin? I’m aware there are “Bitcoin-related” jobs. But what about “regular” jobs? Perhaps we need more Bitcoin #businesses paying employees in Bitcoin. But then where do they get the Bitcoin to pay their employees? Buy some? Take out a loan? Is there a Bitcoin only *bank* that lends Bitcoin? Is it even legal? (I have so many questions! 🙃)

Every job I worked, I was paid in fiat. I personally have no desire to go back to *working* for fiat. If I do work for a company (and there are a few exceptions), I want to be paid in Bitcoin. I work for God now but there are a few exceptions in which I would work for an organization again. Furthermore, I would honestly figure out how to live a Bitcoin only life. I’m sick of this “financial system” scam.

What are some real solutions to get Bitcoin into the hands of more people? We know they want us dependent, depressed, and shackled to their system. How do we use our power to obtain true financial freedom? Please feel free to chime in.

#asknostr #bitcoin #bitcoineconomy #p2p

To answer the basic question - HOW. Bitcoin is an available option for people who need it. Before bitcoin your best alternative to fiat was gold witch better than nothing but is nowhere as sound as bitcoin.

People often need to experience real pain to be ready for the solution so I don't think shoving orange pills down throats of people who are living comfortable lives might not be very effective.

So going to people who are currently living in poverty and pain and are ready for a solution. Zaps, ecash, etc are means to transact value however small and it only has to start in a circular economy and doesn't have to match the global price levels.

i.e. you have some remote population somewhere in southern hemisphare who are living in relative poverty and their quality of life has not been increasing together with western world due to corrupt government and rapid inflation. These people are unbanked, doesn't do any business online, participate in local and regional economy and only use cash. Prices of basic goods and the salaries are fraction of those in the west.

Now imagine this population starts using bitcoin with Machankura by Kgothatso Ngako (sms transactions) or zaps and all of the sudden they have access to global economy, for example can do remote work and get paid better salary or receive funds from family working abroad easier, faster and cheeper. As well as their savings, however small, don't loose value over time. Such community would have better opportunities and would build more wealth compared to the region. Sometimes it just takes one passionate individual to convince a small community and other groups will follow when they see the success.

Volatility is basically the big problem in context of very poor populations who cant accommodate huge price drawdowns and will probably use US dollar stable coins for a long while instead. In this regard I have no idea about better solution.

About everything else - there are already people saving their lives with bitcoin, there are people trying to spread its use (think miners in regions without power access) and there are people creating solutions for transacting itself.

I think we are on a very clear path of "fixing it" just we are so early and a lot of people will first loose everything and will go to max pain before they'll be ready to use bitcoin, the important part is that the option exists.

Reply to this note

Please Login to reply.

Discussion

No replies yet.