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@spiderman
stacking since: #949602
0 sats \ 1 reply \ @spiderman OP 6h \ parent \ on: Is Bitcoin Protecting Some Iranians from Inflation? bitcoin
Hence the question, is bitcoin replacing fiat in Iran?
I think it is because bitcoin ownership centralisation in the hands of whales. Any whale (and MSTR is one) has a huge influence on the Bitcoin/Copper ratio
Whatever the average person does or does not engage in, I see that as a manifestation of Darwinism.
So yeah, if one wants to focus on FTX, Saylor, Crypto queen or whatever instead of understanding Blockchain, UTXO, signatures, HTLC or unlocking script...well, his loss, my gain.
do you really think their people are that stupid
Yes, I do. Common people everywhere has a bit of stupidity and blind faith in institutions to protect them, and it is 10x more in authoritarian regimes like Russia, China, North Korea etc. Those states weaponise their unique language, most of their folks don't understand any English (written or spoken), hence suitably insulated from any international media or information flow. Given how Russia's common people drink the propaganda kool-aid from Kremlin on Zelinsky is a Nazi, NATO is full of Nazis etc. do you really doubt that?
That said, may be the Russian state can acquire Bitcoin secretively enough, and still maintain a counter-Bitcoin narrative as they are doing. Again, it depends on how well they can spin and whether anyone in the ranks can think critically and question, likely there will be no opposition to the narrative.
Because if Russia the state buys it, it is very difficult for the same state to keep convincing the civilians that crypto is a giant American conspiracy meant to protect or pump up IS treasury.
127 sats \ 4 replies \ @spiderman OP 22 Nov \ parent \ on: Russian Central Bank Selling off Gold Reserve econ
I doubt so. Bitcoin is an anathema to governments and even more so in countries like Russia and China needing extensive capital control to protect the status quo.
Russia will never send a signal to its domestic populace that bitcoin is something worth buying or having. It already tries to paint bitcoin/crypto as an American conspiracy.
So yeah, if Russian government gives legitimacy to Bitcoin, its people will scramble for exit from the local banking system (held together by duct tape) to Bitcoin.
But does venezuela have any bitcoin awareness or adoption? Can you really spend it and do people use it for peer to peer transactions?
Mostly on
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What is Bitcoin and how is it better than a bank account
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How to use on-chain coins (send and receive, with a mobile wallet)
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How to send and receive lightning
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How to swap between these two layers
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Tell them if they are serious about putting a large-ish stash, they should get a cold wallet
I am no Satoshi or Hal Finney, but I do it to make some extra cash out of these (obviously, I cannot ask them pay me Sats, because if they could, they would not come to my lesson)
fiat maximalism
I am a wealth maximalist, whatever the denominator. In my personal finance though, the unit-of-account is grams of gold! How about yours?
Why are you so angry at me and always up my ass dude? If you were in the same city, I would happily buy you a beer!
You are thinking of Bitcoin as a revolution.
I think of it as an evolution, the strongest contender in the Darwinism among different forms of money. Yes, it is strongest, but it does not play out in one day/week/year, it is a decade spanning process.
As more and more people recognise the value of self-sovereignty of money, they will adopt (or die poor and hungry with stash of hyperinflated Fiat notes), but it will not happen tomorrow.
And, in the process, every on-ramp or off-ramp will be another small nail in the coffin of Fiat.
Venezuelans are shitcoining? Yes, because they are ignorant morons like much of the world. But not the smartest ones among them, they are hedging their bets with Bitcoin. There are at least two full nodes running from Venezuela, for example.
I delivered multiple Bitcoin lessons for total noobs, and the third question I always I get is
How do I get it?
The simpler the answer (again, for someone starting out), the better for Bitcoin.