In Nigeria, banks were blocked from sending bitcoin to exchanges for three years but people went around that en masse.
In Egypt, black market physical dollars have a lot of legal issues, but people regularly use them anyway.
In Egypt there's a weak bitcoin ban in place but people could go around it since it's hard to enforce. Most people don't though. Appreciation for bitcoin or even stablecoins isn't very widespread there yet, although if the currency keeps deteriorating in the coming years that might change.
Wow this is disappointing news for Egyptians. At 1% / day, savings will be wiped in a little more than 3 months. Venezuela and Argentina showed the way, preserve wealth with savings technology. You'd think this was a no-brainer but maybe I'm too close to #Bitcoin. The fear of further loss by savers is causing psyco-sclerosis and they are missing a solution that could make all the difference.
The next Egyptian spring could be a monetary revolt if savers banned together.
#FreedomTech - come on frens, you can do this.
Imagine if a sound thinking cleric proclaimed 🌽 as halal.
@saifedean discusses this topic with a few Islamic finance guests
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