Discuss fam. https://image.nostr.build/7e4efc944d844af28a6fd86d69b637c51f4f5f61adec77413ed69ffe60057552.jpg
You can lead a horse to water but you can’t make it drink. While I think Francis may be right in some respects, I’m actually finding that going toward the consciousness awakening aspects of bitcoin seems to be shocking people to attention. It’s not about the money, but about power. When you can show people how fiat in whatever form is used to control people in a variety of ways, they start to wake up to what’s really happening. When you can then connect that to how Bitcoin is a tool of self-empowerment and a counter to fiat as a power; that seems to start to wake people up. However me stating all of this is some white man’s burden kinda shit, frankly I don’t know the culture or struggle in Africa, so I can’t really say. I’ve just found this is my most recent path towards success with orangepilling folks.
It is frustrating. The dollar for most of us is all we’ve known. When “we” think money we think $. The collective “we” that is. @gladstein is correct, it’s going to take time for the masses to see bitcoin as money. This makes it challenging to build marketplaces and tools for broad adoption, but we need to because the day will come.
Im not surprised people in africa want to use dollars. Theyve been under the dollars heel for their lives. They know its stability vs their currency. Btc is less proven and the same reason dollars and euros are used vs btc, africans want the same. It wont always be this way but we are early
Perspective matters. For those in Africa the perceived stability of the USD is the holy grail. While for those of us in the US the inflation of USD is painful, but that just isnt so for those in Africa. USDT will hopefully be the stepping stone because I fear the perceived stability of the dollar will be the ultimate rug. Hopefully @gladstein is right and it will just take time.
what is there to discuss? poorer poeple would rather have a slow devaluing but somewhat stable currency so they can actually be productive then deal with bitcoins volatility.
USD is a well recognized medium of exchange and unit of account, Bitcoin isn't there yet. people who can't save , don't have the luxury of saving in Bitcoin and hodling for +4 years. USDt provides the unbanked with means of storing their liquid income, it's that simple. once they can save ,they will try to look for best vehicle to do so.
I think it's all very dependent on your saving capacity. If you're struggling to have your basic needs met, you're not going to find utility in an appreciating asset, you're going to priorize stability and survival.
USDT is a shitcoin. A useful shitcoin for some people, but still a shitcoin.
More goods and services need to have a sat price.
They say they want the USD because it is hyperinflating less quickly than their local currency but overtime it will eventually hyperinflate (long term), so I think it is still better to explain and advocate for bitcoin for long term savings while saying you understand if they want dollars for short term spending you understand just explain they can get rug pulled with USD by inflation or confiscation (If they are digital dollars)
time, reliable access to internet & power need to go up too. with enough touchpoints I think many adopt if/when they identify Bitcoin as a solution to a problem they have. But we have to accept many if not most don’t see it yet, which is fine. hyper volatile asset may not seem the most appealing vehicle for savings atm, but timechain will do it’s thing 🤙
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There is nothing really to discuss here. The average monthly salary ranges from sub 100 dollars to like 2K in South Africa. The last thing those folks are doing is saving -- they're just trying to survive. Same goes for most of the global south that Bitcoiners love to talk about.