pull down to refresh
84 sats \ 3 replies \ @south_korea_ln 5h \ on: I interviewed 10 Venezuelans to find out what they know about Bitcoin. bitcoin
Can't blame people for favoring something with less volatility than Bitcoin. This perspective of course misses a big part of what Bitcoin is, but for people living from pay to pay check, running a business that still operates in the fiat world, etc, that's in the end all that matters. Long term accrual/hedge against inflation/permissionless money/censorship resistant/etc does not matter compared to short-term volatility. Eventually, volatility may reduce (even there are theories that for Bitcoin to keep existing, volatility is a necessary characteristic), and thus make this kind of counterargument mute. Until then, it'll remain an uphill battle...
Yes, low time preference is a privilege of those with positive cash flows and low uncertainty.
reply
Definitely. We ran a synthetic stable native to Lightning and have gotten very toxic responses sometimes. But always these were westerners. It is unlikely they have challenges when saving in Bitcoin.
reply
Very well put. Much more succint and to the point compared to my attempt ;)
reply