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0 sats \ 0 replies \ @jerrybature 27 Sep \ on: One of the greatest things I have learned about Bitcoin so far bitcoin
Wherever they are in the world regardless of their financial resources or location, people can employ Bitcoin so long as they can access the internet. This situation establishes a just competition and provides access to financial options for persons in countries experiencing unstable currencies or lacking banking services. Transactions conducted with Bitcoin ensure a combination of openness and the ability to resist censorship, allowing people to send and receive funds free from outside interference.
I live in Nigeria, and this has been my reality.
The operation of Bitcoin functions as a global currency, absent the support of any one nation or agency. This kind of capability allows people to protect their assets securely, uninfluenced by chaos in the national political or economic atmosphere. The protection from inflation with the 21 million coin cap helps users preserve the value of their assets.
Sometimes in May last year, for the first time in my life, I bought some fifty thousand naira (₦50, 000) worth of bitcoin (about 2.24187 mBTC) and forgot about it (but didn't forget/lose my private keys). So, I decide to check it yesterday 27/09/2024. I made conversions to both dollars and naira. (It's now about ₦300, 000). Damn it! What more can I say? And, in fact, in Nigeria, it isn't inflation anymore, neither is it hyperinflation. In economics term, we don't even know what we are experiencing, but for sure it is absolute pain and suffering. So, yes bitcoin is a financial miracle for people like me living in developing, authoritarian countries. (Note: I didn't cash out my bitcoin savings, and I don't intend to. No form of money is superior than bitcoin. I was never a shitcoiner, and never will I ever be.)
Essentially, Bitcoin facilitates autonomy in financial matters, shields people from the impact of centralized entities, and lets them manage their financial future.
Yea, sure. Diving deep into the bitcoin rabbit hole gave me the feel of being financially ahead and superior of the Nigerian government and central bankers. Before I encountered bitcoin, I used to be very depressed, not knowing where my life is headed. Now, I'm alive, and so grateful for life. Not that things are automatically easy for me in every way, but that bitcoin revived the dormant hope in me.
Thank you for sharing .
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