246 sats \ 2 replies \ @TheBTCManual 10 Aug 2022 \ on: What is the state of Self-Sovereignity for poor people? bitcoin
I think there is a hurdle rate as a South African I can tell you very few people will be able to do this you need
- A reliable power source which we don't have
- So you need an uninterrupted power supply to keep you from getting hit with blackouts or have solar panels with a deep cell battery
- Very few people have fibre internet and use mobile internet so you need a sim card with data on it ($5.20 per GB)
- If you don't have mobile data towers in your area you'll need a satellite dish to either broadcast an internet connection or broadcast locally to someone who has an internet connection
- You need liquidity, which you either need to buy from an exchange who is going to take fees off you or use a non-kyc which is going to hit you with a 30-90% premium
Then when you finally one deal with all that channel management BS lol, not very practical, the way I see it you will have to run uncle jim models which is not unpopular here.
So what people will do is all pay 1 guy who will cover the cost to get a fibre connection for example and everyone connects to that WIFI, people do it with satellite dish tv too and even banking, we call it a "stokvel" where people all give their money to a community member who "saves/invests it"
"everyone should run a node" is like "everyone should be an investor".
We're all better off when people specialize.
reply
I don't think everyone should run a node, but everyone should have the option to, most people wont and they'll need to find someone they trust or trust a company and if they get rekt worse than the cost of running a node that's their own fault
reply