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Circular Economy with Bitcoin in Cuba. a necessity
586 sats \ 8 comments \ @BTCLNAT 8 Sep bitcoin
This is the story of a Cuban doing business from Cuba, importing.
First you should know that the fiat currency in Cuba is the Peso (CUP), it can be in physical form or on card; the other is or Freely Convertible Currency (MLC), that is always on card. With none of it you can buy it outside of Cuba. So how can a Cuban, living in Cuba, buy outside of Cuba?
We begin. First we use the money from here to buy cryptocurrencies or direct digital dollars from a platform in a P2P system. On this platform, rechargeable Visa cards (digital format) are purchased with which we make our purchases in US stores, with the relevant geolocation measures. We send purchases to different shipping agencies, each one uses the one of their preference. These agencies are in charge of shipments to Cuba by air or sea.
How do I pay the agency?! The same platform where we buy Visa cards offers the withdrawal service through Zelle directly through the platform or through P2P.
The merchandise arrives and is then marketed in CUP or MLC.
This is where the circular economy around Bitcoin can help. If it could be collected in BTC, first there would be no need to buy cryptocurrency to fund the account on the platform, in addition, banking control would not exist. Magnetic card movements have daily and monthly spending limits. Furthermore, financial institutions can always control our expenses and profits. With Bitcoin none of that happened.
So, we can say that a Circular Economy around Bitcoin in Cuba for ordinary Cubans would be a blessing. I wish everyone understood it.
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121 sats \ 3 replies \ @DarthCoin 8 Sep
Sorry but this is not well described a circular economy. Is more like a contraband economy.
Circular economy is when you produce, trade, exchange, pay, receive in bitcoin, not jumping around from one currency or form of payment to another.
Tell me stories about somebody PRODUCING something locally and selling it for sats directly. Then using those received sats to buy other materials to produce more of that product sold on sats. And so on, using between each others bitcoin as medium of exchange and never go back to other fiat methods. THAT is the real circular economy.
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0 sats \ 1 reply \ @BTCLNAT OP 8 Sep
This is precisely what we want to do. At the moment it is not possible for us. In our case we produce ceramic articles, which if we could market in Bitcoin and then we could acquire the raw materials and machines and other resources, then the economy would close and circulate around Bitcoin. That is the true circular economy as you say, but it requires effort, education, will, so we have to keep working.
If in your case you are working on some circuit economy experiences in your environment, I would greatly appreciate your suggestions so we can move forward.
We have heard of experiences in the Dominican Republic, there they use WoS and Blink, they are not ideal, but they are already working. El Salvador is very advanced, also thanks to the government's management, truly in favor of Bitcoin and its adoption, with facts and not promises.
In reality we do not do smuggling, we look for solutions to problems specific to our environment. We buy and sell like any merchant. Would you say that doing arbitration is contracting?
But still, I appreciate the time you took to comment. Greetings.
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0 sats \ 0 replies \ @DarthCoin 9 Sep
read more here: #576140
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0 sats \ 0 replies \ @bitalion 8 Sep
That's right, in the circular economy of bitcoin the medium of exchange is of course bitcoin.
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0 sats \ 1 reply \ @Signal312 9 Sep
Thanks for the report. I always really appreciate on-the-ground news from other countries.
Which P2P platform do you use? When you say "relevant geolocation measures" what does that mean?
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0 sats \ 0 replies \ @BTCLNAT OP 9 Sep
To buy BTC without KYC we use a bot, lnp2pbot. Mostro is being established in Nostr. There is a platform called Qvapay where you can buy dollars with Cuban fiat, CUP or MLC, and with that dollar you can buy BTC. It does not use KYC, just link the telegram account. In P2P, the phone number is used to confirm the fiat deposit.
The geolocation measure is given by the use of VPN, Cubans cannot buy in online stores in the United States if we are in Cuba.
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0 sats \ 1 reply \ @bitalion 8 Sep
That's what we're trying to do, but it takes effort, perseverance and a lot of education. I invite you to Cuba Bitcoin if you're not already in the community. https://t.me/Cuba_Bitcoin
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0 sats \ 0 replies \ @BTCLNAT OP 8 Sep
I am already part of that magnificent community. It was thanks to you and the 4th edition of MFB that I fell in love with Bitcoin and I am immersed in spreading that knowledge. I am from the Isle of Youth.
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