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107 sats \ 2 replies \ @TheBTCManual 17 Sep \ on: Bitcoin Could Be a Catalyst to Revolutionize "Global South" If... bitcoin
South African here, Bitcoin does indeed solve a lot of the problems the global south faces in terms of currency debasement, access to financial tools etc, but the major issue here is liquidity and opportunity cost.
To stack sats you NEED to have a surplus in productivity, aka generating savings, if you don't have anything to save why bother with Bitcoin? Industry powered by Bitcoin will take time to permeate in these regions but as more liquidity and savings flow into the asset class, the early adopters who did have savings can now pull from their greater purchasing power to attack high profit opportunties in their region
Second issue is even if the person does have savings, it might not be large enough to handle volatility, if you've only got a few bucks to put away and its moving up and down 10, 20, 50% at a time, you have to manage that opportunity cost, the mind is geared to discount upside and value possible downside risk higher, which is why stablecoins are popular in these regions
Education is great, but we have to be realistic about the situations people face and trust the process! If you're a free market guy understand the invisible hand works on its own time frame, not yours
What's your idea about English language as an official in your country? Does it ease the process?
I do not believe in any kind of semi-science ideas! But I do believe in visible hand which works.
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Lol we've got 11 official languages, how many more do you want and theres an estimated 10% penetration in ownership. Most people can't be arsed to read, they learn from others!
Well if you ever do take the time to read some Austrian economics, it might put your mind at ease about these things
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