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20 sats \ 1 reply \ @pillar OP 2 Sep 2022 \ parent \ on: What would have become of Hercules? bitcoin
Let me disagree with you. I think there is some empirical data that supports the idea that adversity strengthens the bitcoin community: in the countries where financial systems are more mature, bitcoin is less used and, even worse, it's used in more custodial ways, less censorship resistant ways. On the other hand, on less developed countries where bitcoin is both more needed and also more opposed by the establishment, adoption is growing at a faster pace and in a more p2p, grassroots and private way.
What's your take?
I agree with your current take on the way bitcoin is used and distributed, absolutely "trust" in organizations are higher in "developed" markets, so custodial use or non-use is high.
I am in South Africa so see what a failed organisation does for example, we have high crime rates here, our police are corrupt, incompetent nd understaffed, so we have the biggest private security market per capita in the world. It's a natural reaction to market demand
We don't have major gun adoption here on the private level so walls, electric fences, gated communities, and 24-hour security have filled that demand. If guns were widely adopted you'd see those industries shrink.
So I see bitcoin as something that actively seeks out the worst environments like it's not valued as much in a non-custodial form in "trusted" communities, it gets a premium in places with conflict, as that capital flows in there, makes people richer, and they can then develop methods of safety that work for them (as I mentioned in the example above)
We see bitcoin flow out to somewhere else, it's like a pioneer species that is actively looking to raise people's living standards. Will the world ever be free of issues? I doubt it, not in my lifetime, I can't speak for lifetimes after mine though.
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