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1 sat \ 2 replies \ @carlosfandango 1 Sep 2023 \ on: Can Bitcoin Achieve Its True Potential by Escaping the Fiat Price Trap? bitcoin
Bitcoin can be sold to western newbies slowly on its fiat value. The unbanked and global south may have more immediate concerns and look to exit the current fiat system asap. I do agree that it’s staying powered exists in its changing the financial world.
I agree that Bitcoin's appeal to Western newbies through its fiat value is a starting point. Africa is already on the cusp of a revolutionary change. Let's hope Bitcoin forms an integral part of that change.
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It may not feel like a revolution until it’s too late to be stopped… but how long will the cusp hold?
And I wouldn't underestimate the power and hold the fiat system has over sub-Saharan Africa. Looking at the history of military takeovers in Africa and they all have one thing in common; the change of elite benefiting from the extraction of fiat wealth through natural resource and human exploitation.
Whilst some financially underprivileged individuals will benefit from BTC (and the more the better) the fiat whales, politically protected, can continue the same exploitation on different rails.
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