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500 sats \ 2 replies \ @fredosha 3 Sep 2023
It is happening; that people are deciding to take their own financial security into their own hands. And owning a wallet of the cryptos has afforded the people this opportunity.
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100 sats \ 1 reply \ @globalmerchant 3 Sep 2023
Yesterday here in Honolulu, I helped a friend install a Phoenix Wallet and he was able to use to send emergency funds to Istanbul. This is a great feeling and really this is a simple way to educate someone about Bitcoin, Lightning just do it. People, customers, suppliers in developing Countries actually realize the importance of Bitcoin more so than people and companies in the USA. May we all continue to support each other/
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500 sats \ 0 replies \ @fredosha 3 Sep 2023
People in the developed world live in what I will a pampered economy. Conversely, the kind of economic hardship majority of the population of developing nations face has made them to look eagerly for an alternative (an escape route). Bitcoin on the lightning network will be of great use to these great number of people that have been disenfranchised by only a few in their country. The world is getting to this point where, escaping poverty is only a matter of individual choices, no longer about the prevailing economic situation in a geographical area.
Those who have in one region can easily give to those who don't have in another region without the middleman which is usually the banks and financial institutions.
Governments and their policies will no longer be the ones to determine who gets this resources and who doesn't get this resources. This is only determined by individuals themselves.
Thank God for Bitcoin and Bitcoin on the lightning ⚡ network.
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0 sats \ 0 replies \ @globalmerchant 3 Sep 2023
I primarily export, B2B wholesale clothing primarily OUTSIDE of USA (HAWAII) to B2B customers in:
Australia (NO sales 120 days)
Brunei (just started 30 days ago)
France (1 old deal done new dealer)
Germany (dead, they are hurting big time)
Hong Kong (through distributor in Hong Kong)
Japan (down 90% due to the travel restrictions over last three years)
Mainland China (through distributor in Hong Kong)
Macau (Through distributor in Hong Kong)
New Zealand (NO sales 90 days)
Taiwan (through distributor in Hong Kong)
Thailand (Bangkok)
United Kingdom (England) Only one customer since Brexit.
Bitcoin the USD and the receiving Country Importer
Some of the issues
The ever increasing cost of shipping.
The ever increasing rising cost of goods.
Regardless if you receive payment in Bitcoin there will always be a comparison the the USD, for one thing, it's declared on the export documents that both the importer in the receiving Country and the shipping exporters Country in my case USA.
The amount of duties is out of control into USA as an importer, as a simple example 100% Rayon fabric imported from India as an example into the USA to be used in the USA (Hawaii) to manufacture "Hawaiian Shirts" get's charged 27.3 % duty PLUS additional paperwork charges, PLUS the shipping, plus the labor cost in Hawaii. At the end of the day we still have not calculated any sales commissions that have to be taken out of the final WHOLESALE selling price.
So if a company in the USA (Hawaii) wants to accept Bitcoin they have to plan about an hour at minimum to keep track of how and when the perceived value of the Bitcoin that was received on a daily, repeat daily basis is accounted for any payments received towards a normal B2B transaction, not easy.
The Good news/Great news
Bitcoin works, the developing Countries will grow faster than the USA in regards to actual daily B2B and B2 use. The African Continent will manifest fast with the adaption, obviously the biggest challenge is the same of the USA they're and our Governments want to stop the approval of Bitcoin.
The Bad news
90% of my peers suppliers, customers in the USA tell me the same thing, comments something like "But the U.S. will stop Bitcoin, "we'll get in trouble, the American Government won't allow Bitcoin", "they are charging Bitcoin miners 30% tax how much will we be charged, or will they just not allow Bitcoin ?
Aloha
Rich
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