#Nostr family. I have a few serious questions… The Great Depression of epic proportions is on the way. It will affect people globally. Bitcoin can be a solution out of this mess. People will say, “Bitcoin fixes this.” My question is…How? I’m willing to have an intellectual dialogue. How many people in the world currently have Bitcoin? How many people are paid in Bitcoin? How many merchants accept Bitcoin? If the average person around the world can’t afford to buy Bitcoin (even small amounts), how does the Bitcoin economy work? In a typical economy, people work a job. They’re paid a salary (typically currency). And the currency is used to buy products, goods and services. The person receives the currency to pay for other things. That’s a basic way of currency moving in an economy. If we want a Bitcoin #economy, do we use the same method? If so, who’s paying in Bitcoin? What companies are hiring and paying employees in Bitcoin? I’m aware there are “Bitcoin-related” jobs. But what about “regular” jobs? Perhaps we need more Bitcoin #businesses paying employees in Bitcoin. But then where do they get the Bitcoin to pay their employees? Buy some? Take out a loan? Is there a Bitcoin only *bank* that lends Bitcoin? Is it even legal? (I have so many questions! 🙃) Every job I worked, I was paid in fiat. I personally have no desire to go back to *working* for fiat. If I do work for a company (and there are a few exceptions), I want to be paid in Bitcoin. I work for God now but there are a few exceptions in which I would work for an organization again. Furthermore, I would honestly figure out how to live a Bitcoin only life. I’m sick of this “financial system” scam. What are some real solutions to get Bitcoin into the hands of more people? We know they want us dependent, depressed, and shackled to their system. How do we use our power to obtain true financial freedom? Please feel free to chime in. #asknostr #bitcoin #bitcoineconomy #p2p
You need to look into the work the Human Rights Foundation @HRF are doing around the world.
Latrica. I was in the middle of cooking a meal and didn't have time to reply in depth. Can I get a feel for how long you have been looking into #bitcoin ? The questions you are asking are great and can be answered but it depends on your knowledge level on how to answer them.
Hey. I’m just now replying because this message didn’t show in my notifications. I’ve known about #Bitcoin since the early days. (2008-2009) My colleague told me about it at work. He was mining some. We both have math degrees and worked in a math related field. Moreover, we’re both knowledgeable in cryptography. I earned my math degree before Bitcoin was even established. So, when my colleague told me about it, I thought it was interesting. I then decided to learn more and stayed abreast about it throughout the years. My knowledge base didn’t start yesterday. 🙃 I’ve known about it before any book was written on it. I read a lot. Daily. With that said, I’m humble enough to say I don’t know everything in the world, which is why I’m always willing to learn. Thanks for considering my questions to be great. 🫂 Hopefully more people will chime in. I specifically asked questions related to a *Bitcoin economy.* When I hear people say, “Bitcoin fixes this”, I don’t hear real tangible *economic* solutions. I honestly don’t think some people are well-versed in #economics. Especially the global #economy and financial markets. And that’s ok. I don’t expect everyone to be an expert economist. Nor do I expect everyone to know how to solve a massive problem. A problem that is going to result in a Great Depression no one has ever witnessed. Sometimes they don’t tie in the historical and current perspectives like the Bretton-Woods agreement, IMF, BIS, etc. Add in multiple variables such as financed back wars, the military industrial complex, economic sanctions, control of trade routes/resources, devaluation of foreign currency, debt/loans, etc. and you quickly realize the GLOBAL economy is a HUGE tangled mess. So, how does one use Bitcoin to fix a tangled mess that didn’t start yesterday? Furthermore, this mess affects billions of people. With the Great Depression of epic proportions on its way, what are some potential solutions? I want to hear about innovative, creative, and *practical* solutions that can actually be implemented on a global scale.
The average person CAN afford to buy Bitcoin, in small amounts.
Even people living in third world countries with no access to a cell phone or internet? I was clear in my post. I said the average person around the world.
Have you heard of an sms based bitcoin transactions in Africa somewhere? I will find you info about it if you haven’t heard about it before
People without cell phones and the internet are not the average person. I’m not saying they’re unimportant, just that they’re a minority which will only get smaller and smaller as tech improves
I never said the average person was someone who didn’t have a cell phone. I was bringing up an additional point. In the original post, I said, “If the average person around the world can’t afford to buy Bitcoin (even small amounts), how does the Bitcoin economy work?” This is the average person I was referring to. And I’m specifically asking about a *Bitcoin economy.* When you get a chance, Look up the statistics of the average salary AND expenses around the world. Also, if someone must choose between buying food or Bitcoin, what would incentivize them to buy Bitcoin? And if they bought it, what to do with it? Hold it? For what? Until when? If someone bought $2 worth of Bitcoin (a small amount), how does that improve their life? I’m not trying to argue with you. I’m not being mean. These are serious questions. I know sometimes *tone* can’t be detected in digital conversations. I’m asking genuine questions. (I don’t do internet beef. ) 🙃 Someone who doesn’t own Bitcoin has asked these same questions to me. So, I would like to know what others have to say.
Stacking very small amounts of sats now won't help a lot to change a life in the coming years. Study bitcoin can help to change the vision of people struggling because they can learn what's hard/easy money and time preference. It can be very difficult, especially in third countries, people learn since they are kids to enjoy everything now and don't think about tomorrow. It's a spiral to keep people in difficulty, you can't build any future if you spend all your ressources today. In the book "The bitcoin standard" he explain all that Also in "ultra-processed people" they explain the link between poor countries and junk food, which are also about time preference. This is a concept who affect our entire life, wealth and health
Amen to that, that’s the true answer, and the reason we’re so passionate about Bitcoin: it’s a change of vision and life.
Well we’re not in a Bitcoin economy, so I don’t know the answers to those questions. But to answer how $2 of Bitcoin can change the average persons life is because they are getting an ASSET for $2 with which comes many benefits they would not otherwise have: insulated against inflation, demand for a scarcity, a savings strategy that outperforms any financial advisor you could hire. No worries no beef. We are both firm people, low on agreeableness perhaps 😀
Your points are very valid. Thanks for responding. 🫂 FYI: I appreciate an intellectual dialogue. It’s ok to challenge thoughts respectfully. That’s how we learn and improve. I don’t mind someone challenging my thoughts. This is what civil discourse is all about. 🤝
It’s impossible to can’t afford to buy bitcoin, especially now with zaps and ecash you can literally transfer fractions of a cent worth
Some people might disagree with the word *impossible*. 🙃 Yes, people can receive sats. You zapped my post 84 sats. That’s $0.05. What would I do with basically a nickel? I could stack it. Sure. Do I spend it? Where? And let’s say everyone can receive zaps and ecash. Is everyone going to get zapped? If so, how much? They can stack it. For how long? Moreover, let’s say a merchant accepts Bitcoin. What can you buy with 84 sats? P. S. I’m being serious. I’m not trying to be a jerk. It’s all love everyone. 🫂
Hello ! I'm back to this conversation :) So with zapping I just wanted to show that transactions of any size is seamless. Tell me how much is a cup of coffee where you live and I can send you that or you can buy a painting from me for 200 bucks and we can easily transact on chain or lightning or ecash
It’s always going to be hard to accurately estimate who’s paid in #btc it’s possible you could find out roughly how many people work in bitcoin and then make some assumptions, but it would always be literally a best guess. Am I right in thinking 2m people use BTC and there’s around 40k merchants. To coin a phrase “we’re so early” is just about landing on me after hearing about some of the mass adoption strategies of some of the biggest corporations in the market. I haven’t read the rest of your note yet. I will later though 🫂💜
🫂. Thanks for responding. I don’t know the numbers. Your guesses might be accurate. My post was to create a dialogue about viable solutions. I think Bitcoin can be viable. But *how*? That was one of my questions to the Nostr family. We could potentially come up with real innovative and creative solutions to this mess. Like, let’s not rely or wait for corporations to create strategies. I believe power lies with the people. Some people might have taken my post as a dig at Bitcoin. But that’s not the case. I’ve written before that I’m a proponent of Bitcoin. I think a lot of factors must be considered for it to work globally. And I would like to see mass adoption. But how does that *really* happen?
To answer the basic question - HOW. Bitcoin is an available option for people who need it. Before bitcoin your best alternative to fiat was gold witch better than nothing but is nowhere as sound as bitcoin. People often need to experience real pain to be ready for the solution so I don't think shoving orange pills down throats of people who are living comfortable lives might not be very effective. So going to people who are currently living in poverty and pain and are ready for a solution. Zaps, ecash, etc are means to transact value however small and it only has to start in a circular economy and doesn't have to match the global price levels. i.e. you have some remote population somewhere in southern hemisphare who are living in relative poverty and their quality of life has not been increasing together with western world due to corrupt government and rapid inflation. These people are unbanked, doesn't do any business online, participate in local and regional economy and only use cash. Prices of basic goods and the salaries are fraction of those in the west. Now imagine this population starts using bitcoin with Machankura by Kgothatso Ngako (sms transactions) or zaps and all of the sudden they have access to global economy, for example can do remote work and get paid better salary or receive funds from family working abroad easier, faster and cheeper. As well as their savings, however small, don't loose value over time. Such community would have better opportunities and would build more wealth compared to the region. Sometimes it just takes one passionate individual to convince a small community and other groups will follow when they see the success. Volatility is basically the big problem in context of very poor populations who cant accommodate huge price drawdowns and will probably use US dollar stable coins for a long while instead. In this regard I have no idea about better solution. About everything else - there are already people saving their lives with bitcoin, there are people trying to spread its use (think miners in regions without power access) and there are people creating solutions for transacting itself. I think we are on a very clear path of "fixing it" just we are so early and a lot of people will first loose everything and will go to max pain before they'll be ready to use bitcoin, the important part is that the option exists.
My plan so far is to work in fiat, fund my lifestyle in fiat (spend less than I earn) and save the remainder in Bitcoin. This why I don't have to spend my Bitcoin until it's considered legal tender in my country or when I relocate elsewhere. And, I get to save in Bitcoin and maintain my purchasing power. All in all, I get rid of the melting fiat currency and enrichen myself and my family with Bitcoin. Right now, I'm trying to figure out how to earn in Bitcoin on Nostr. I know that will be epic and exciting. This is all a paradigm shift.