The growing success of Bitcoin leaves no one indifferent. The governments, bankers, and economists of the major Western economic powers are even less so. These people have now entered into a war against Bitcoin. Every opportunity is taken to falsely denigrate Bitcoin.
For example, it is not uncommon to see a politician attacking Bitcoin by saying that it is only used for illegal activities. It is just as common to see a central banker saying that Bitcoin is worthless and that CBDCs (Central Bank Digital Currencies) will soon make Bitcoin obsolete.
The problem with these false attacks is that they become permanently embedded in the minds of the general public. The majority of the general public is not critical enough to check this out for themselves. So the damage is considerable every time.
Westerners who denigrate Bitcoin need to get out of their comfort zone to see how Bitcoin is changing for the better the lives of millions of people
As a Bitcoiner, a big part of my job is to dismantle all these attacks to help as many people as possible make up their minds about Bitcoin. My goal is not that you necessarily share my point of view, but rather that you incorporate it into your thought process and then decide for yourself what you decide to believe.
If after reading my articles on Bitcoin you end up thinking that Bitcoin is as dangerous as the governments say it is, then that's up to you. But at least you will have made the effort to form your own opinion. Usually, people who go that far always end up endorsing Bitcoin. You can't be indifferent to a system that aims to give people their freedom over money, and more generally, freedom over how to live their lives.
The more I read all these attacks from the powerful people of the current system, who are almost all Westerners, the more I think they would do well to stop denigrating Bitcoin and see how this unique system is already changing the lives of millions of people around the world for the better.
These people are mainly in developing countries. Because that's where Bitcoin is already a plan A.
Cubans can take advantage of Internet opportunities with Bitcoin
Let's take Cuba as an example. On the island, the Internet penetration rate is now close to 80%. Cubans are like you and me. They want to be able to take advantage of the Internet boom to buy and sell things online. Unfortunately, Cubans can't do that through the current monetary and financial system because of the US sanctions.
A Cuban cannot subscribe to Spotify, buy a domain name, or pay for a hosting service through the current system. This is where Bitcoin represents a unique opportunity for Cubans. With Bitcoin, they can achieve their goals. The site Bitrefill sells Spotify or other companies' gift cards for BTC.
Bitcoin, but also cryptocurrencies in general, are already changing the daily life of Cubans.
El Salvador builds a better future for its people with Bitcoin
Since September 7, 2021, Bitcoin is an official currency in El Salvador. President Nayib Bukele dared to seize this unique opportunity to change the future of his country by resisting the pressure of the IMF, the World Bank, or the Westerners. Salvadorans can now pay instantly in Bitcoin at any business in the country, whether it's a McDonald's or Starbucks.
Salvadorans can receive money from the diaspora without having to let firms like Western Union or MoneyGram take huge transaction fees from them.
Bukele has put his country at the center of the Bitcoin world map by becoming an attractive destination for all entrepreneurs in the ecosystem who want to change the world via the Bitcoin revolution. The first Bitcoin city will be built in El Salvador.
Bitcoin is already a plan A in many African countries
This is only whetting the appetite of other countries neighboring El Salvador in Central and South America.
In Venezuela, Bitcoin is becoming an integral part of the economy of a country where monetary hyperinflation has been putting the population through the wringer for years. Venezuela's banks are not connected to the rest of the world. So Bitcoin is the only solution available to move value in and out of the country based on P2P markets where Bitcoin can be exchanged for cash.
In Africa, the situation is probably even more telling than in Latin America. UsefulTulips, which tracks Bitcoin P2P exchanges around the world, reports that exchange volumes in Sub-Saharan Africa are equal to those in North America. They are expected to surpass them soon.
Observed trading volumes are in the range of $20 million per day, but the actual numbers could be much larger. A good example comes from Nigeria where the government has imposed strict capital controls and moving value across borders is now virtually impossible through the current system.
Under these conditions, it is no wonder that Bitcoin is so popular there. The recent launch of the eNaira, Nigeria's CBDC, should not change this. People already see Bitcoin as an essential tool for their daily lives.
Bitcoin is an essential tool to protect against corrupt leaders in the Middle East
In Iran, Bitcoin has already been used for several years to continue trading despite U.S. economic sanctions. Some may see this as dangerous, but in reality, why should the Iranian people have to suffer American imperialism daily?
Bitcoin is also an essential store of value in Turkey, where the lira, the local currency, is collapsing due to the indigence of President Erdogan, who is leading his people to misery. With Bitcoin, Turks have access to decentralized hard money that is truly theirs. It is no wonder that Erdogan disapproves of the use of Bitcoin.
Yet, the Turks have no other hope than Bitcoin against this corrupt autocrat.
In Lebanon, the people are currently paying for the attitude of the IMF (International Monetary Funds), which gave in to the Bank of Lebanon's request in 2016 to hide the reality about the country's already deplorable economic situation. This has only worsened the economic crisis that the country is also going through. With Bitcoin, things would have been different because of the transparency of this open system.
To see already what Bitcoin brings to the world, you have to go to the countries that need it the most
While Bitcoin is seen primarily as a money-making investment in the West, anyone willing to look beyond their Western comfort zone realizes the absolute necessity for this system to survive for millions of people around the world.
Westerners could do without Bitcoin, but the people of the developing world could not and would be stuck again in the unfairness of the current monetary and financial system.
Personally, this is part of the reason why I am fighting to keep the Bitcoin revolution moving forward day by day. I understand that Bitcoin is already a plan A for millions of people, and I owe it to myself as a privileged Westerner to make sure that I can participate in the emergence of a fairer system for as many people as possible.
This is my modest contribution to the construction of a better world for the greatest number in the future. The day you understand all this, you will join the camp of those who no longer blindly listen to Western political leaders when they falsely denigrate Bitcoin.
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