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48 sats \ 1 reply \ @SpaceHodler 20 Sep \ parent \ on: wage discrepancy in different countries - does bitcoin fix this? bitcoin
Poor countries are less productive. Bitcoin can make them more productive by incentivizing capital accumulation and better capital allocation, but that takes time.
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10 sats \ 0 replies \ @Undisciplined 20 Sep
That's aligned with my point. Poor institutions discourage capital accumulation, because people aren't secure in their possessions. That leads to capital misallocation.
Bitcoin reverses that by making people more secure in their possessions (at least wrt their money).
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