As physical currency goes extinct, Palestinians in Gaza have turned to a variety of survival strategies, ranging from trust-based options like barter and informal credit lines between neighbors to, increasingly, alternative systems of exchange like cryptocurrency. “With banknotes damaged, banks gone, and no way to get dollars in or out, I can only do commerce and import necessities using cryptocurrencies,” said Rafat Naim, a food merchant in Gaza who now uses Bitcoin to pay foreign suppliers and get items into the Strip through the Israel-controlled Kerem Abu Salem and, occasionally, Rafah crossings.
pull down to refresh
related posts
36 sats \ 3 replies \ @0xbitcoiner 2h
It’s good to see people looking at Bitcoin as a real alternative. Too bad it’s not used more for everyday payments, but we’ll get there, one step at a time. Let’s go!
reply
5 sats \ 2 replies \ @nerd2ninja 2h
Reading the article, this is about USDT.
reply
326 sats \ 1 reply \ @0xbitcoiner 2h
I didn’t read the whole article, just the bit that @siggy47 shared.
reply
33 sats \ 0 replies \ @nerd2ninja 2h
Fair enough lol
reply
58 sats \ 1 reply \ @nerd2ninja 2h
In typical American fashion, the government once again uses companies as a proxy for what people fear government of having. People fear government surveillance, but then give even the smallest of details to a company for them to sell to government agencies.
Once again we have people who fear a central bank digital currency, and yet whole populations adopting a foreign nations company scrip which follows the regulations and laws of a foreign government, fully capable of the same things people fear in CBDCs.
PS: I'm just talking about the USDT users
reply
0 sats \ 0 replies \ @siggy47 OP 2h
You're right. You can't begrudge people who are just trying to survive, but they are using the currency of the country who is supplying the money and bombs to destroy their land.
reply
36 sats \ 0 replies \ @teemupleb 49m
USDT, the gateway drug to a programmable CBDC slave money.
Coming to Gaza, Ukraine and a country near you to help with “reconstruction”.
Better to use bitcoin instead and take up the fiat volatility.
reply
0 sats \ 0 replies \ @88b0c423eb 19m
It's usdt but still maybe a way for coming to bitcoin. I would be impressed if they starting using nostr also.
reply