If you look at the accumulated inflation in the eurozone with the help of the state-measured CPI, which, as we all know, naturally understates the inflation rate, the situation is dramatic. It is also an indicator of the plight of central banks and governments to roll the growing national debt into the future by debasing money and issuing ever more debt.
Against the backdrop of this development, it is hard to understand why hard assets such as Bitcoin play virtually no role in the disposition of family finances in Europe. It will be interesting to see how the adaptation accelerates when the devaluation of money accelerates further in the next round of debt.
For Bitcoin adoption to increase due to fiat debasement, there needs to be sufficient infrastructure in place (exchanges, wallets, merchants accepting Bitcoin) and public awareness. In some cases, like in countries with high inflation (e.g., Venezuela, Argentina), Bitcoin and other cryptocurrencies have seen increased use, but widespread adoption requires more than just a loss of trust in fiat money.
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68 sats \ 0 replies \ @xz 30 Aug
I think it's a fair point.
I saw someone post that adoption had hit the point internet adoption had hit. #599328
This was not the exact chart I saw, but I think there are parallels, similar trajectory. Onboarding is all being done without marketing, but I agree.
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It's not like there are not enough exchanges. And what do you mean by wallets? Hardware signers? Clients like Sparrow and Electrum? No shortage here either.
Merchant adoption is not that relevant for SoV, which is what needs to adopted first.
I think the main obstacle to adoption is the NPC, government-trusting, cucked populace. They need to get fcked over a bit harder for a bit longer. Maybe Argentina-style inflation would do it, but that would have to be mirrored in the USD too, because a less shippy government shipcoin is too much of a temptation for NPCs.
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Because Europeans are arrogant and stupid, they will get it last.
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The inflation situation does not only affect the Eurozone, it affects the whole world and precisely in the whole world people continue to be slaves of fiat money, although they continue to see that the reserve of value and the purchasing power of their money continues to deteriorate and yet they do not act in favor of the adoption of Bitcoin, and not only that, it is even more interesting that when you try to educate them the first expression is "that is a scam" and then the succession of lies, accusations and so on that they launch.
But it is more striking that the governments and financial entities that attack Bitcoin and persecute the Bitcoiner communities, have in their possession thousands of Bitcoin, of course these are still in the chain but they have their private keys that give them access to those amounts. Even Germany threw a tantrum when due to a technical analysis error 50k BTC were sold.
Adoption leads to education, knowledge liberates. But people must be aware of their need for freedom. Let us continue doing our thing, otherwise we will liberate ourselves and those who listen to us.
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Dollar, then Bitcoin.
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111 sats \ 8 replies \ @oomahq 30 Aug
The dollar shitcoin does not seem to hold onto value any better than the euro shitcoin. If anything, EUR has appreciated about 14% against the USD over the last 2 years.
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Ooma like the Voip service?
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No :')
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If you zoom out it looks like ETH/BTC, lots of initial hype then just bouncing along the bottom.
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This chart says that both are turds falling from the sky.
There's no reason for Europeans to exchange their EUR for USD, nor for Americans to do the opposite. There are better options for both.
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It depends…if you think the rate of debasement for the Eur won’t accelerate… The high skilled workers will flee from the migrant hordes, while de-industrialization is accelerating as well. Let’s see what the euro will buy 10 years from now 🤡
Of course the Europeans won’t be Europeans anymore, they will be a homeless diaspora, the ones that get out.
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47 sats \ 1 reply \ @oomahq 30 Aug
Of course I think the debasement of the EUR will accelerate. Just like the debasement of the USD.
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My argument is, different rates…4 billion people with basket case fiat buying tether…USD collapse is last
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If that happen it will be great
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Cannot force Bitcoin adoption but there will be mass adoption. They are still reeling from the shock of letting go of the real Ponzi Scheme.
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