pull down to refresh
1021 sats \ 2 replies \ @Bitcoiner1 18 Oct 2024 \ on: Why stablecoins and stablechannels are dumb bitcoin
Bitcoin is for rich people, I mean people who already have some savings and need a tool to store value for a better future.
In many countries ( I'm from Venezuela), people live day by day, with the mix of low salaries and hiper inflation is impossible to save money for the future. As soon as they get their salaries they buy a little bit of food to store value and to eat it.
As using Bolivares was a total chaos and access to USD is controlled by the Government, USDT and USDC fill this gap.
Bitcoin is for the long run, Stable coins is for yesterday and today debts.
Bitcoin is for rich people It is not
I live in a reality very similar to yours and yet I think differently. Get it out of your head that bitcoin is for the rich, bitcoin is for everyone and always will be, the rich want you to buy ETFs and bonds backed by BTC, they want you to use stablecoins that use the LN network while they buy more bitcoin. All this to distance you from a system that doesn't need them.
Your reality of not having a single fiat left to save it in bitcoin is the reality of many, but it can't stop you from saving a little and not giving anything to them. Even more so your currency that erodes its value every second, taking away from you the effort of your work for the tastes of your dictator. Bitcoin is what will save your work from being destroyed.
Do a simulation of having saved your month's salary in bitcoin for any period of time to see how much it outperforms your fiat.
reply
I came to say this but you said it better. I've studied it, you've lived it. Have some sats.
reply