564 sats \ 2 replies \ @TheBTCManual 18 Jul 2022 \ on: What do I need this bitcoin for? 🔦 bitcoin
I am really starting to get tired of the bitcoin isn't an inflation hedge, lol it stops you from dilution IN THE BITCOIN network, it doesn't control whats going on in secondary markets, gosh everytime I have to explain that one it does my head in lol
As someone not in the western world (South Africa) bitcoin looks so good, I literally have no other way to save, every financial instrument is impaired when you do the real return calculations and the currency is not doing you any favours
Bitcoin is MEANT to redistribute wealth and its only going to do that by allowing those who didn't get much out of the fiat game to get in first
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Side note: The way you formatted this post, top stuff man, appreciate the time you took to use the mark ups
The best way I've found to orange pill those in the West who have never witnessed currency collapse is:
Have them scroll through https://bitbo.io/ and check the BTC performance relative to African, Asian and Latin American countries' currenices. This clears up any confusion instantly. Having the USD or Swiss Franc as your unit of account blinds you to the harshness of financial repression around the world.
My home currency has collapsed 50% against the US dollar within my lifetime. It hasn't been quick, just a slow bleed out. All fiat economies are steadily melting icecubes.
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Michael Saylor dives deep into the road to adoption and admits most people's understanding is flawed of how it will be used in the next 10 to 40 years, in particular in western countries.
This video of Saylor on BTC Magazine pairs nicely with the discussion in this post.
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