Countries, people & crypto

It's been 14 years since Satoshi Nakamoto mined the first Bitcoin block on the chain, known as Genesis Block. The year was 2009, this seems like a looong time ago for many people. For even more people, that year doesn't mean that much, because they weren't old enough to even buy a beer, myself included!

So, after 14 long years, what changed with Bitcoin & crypto as a whole?

From nothing more than a "security" coin used to buy drugs on the dark web, all the way to digital gold! People ALL OVER the world has seen the potential Bitcoin & Crypto as a whole has, and they're putting a lot of trust & money into it !

From what I've seen and talked to a lot of you guys here, the Housing Market is so monumentally high it every country that it seems impossible for us 20-30 y.o. to buy our own place to live! Inflation is also STILL out of control in many countries. THIS is where crypto has come into the scene to dominate the economic world. How, you might ask?

A fiat currency's power resides in the trust people put in it. Take the US dollar for example. It's the reserve currency of the world because USA is the most powerful country in the world. That's why people trust the dollar. But what about other currencies?

Let's take for example the turkish lira : 1000 turkish lira in 2019 would be world approximatively 140 USD, but now it's only worth 37 USD ! This is MASSIVE inflation & the turkish people have to bear the brunt of it.

So, what did turkish people do? A lot of them turned to crypto! And by a lot, I mean A LOT, approximatively 50% of them! As shown by this article:

https://preview.redd.it/4es8h66v2fpb1.png?808&format=png&auto=webp&s=4a970b4709fb24ec015567304556d4b201165b92

Turkish people turned to crypto to be able to hold assets and NOT lose value. Yes, it is volatile, but in the long run, when your country is decimated by inflation, it's worth it! For many people there, it's a safer asset than holding fiat currency. And I completely understand them, what would you rather hold? Turkish LIRA or Crypto?

Now, don't get me wrong, this statistic in no way could be 100% accurate but it give us a clear picture of what crypto can give to people ... hope!

Even so, you have to understand that most of the people might own maybe 50$, 100$ worth of crypto, so it's not like all of their money is in crypto, however it's a huge statistic and a perfect duel between FIAT & Crypto.

So, that's it with Turkey, let's look at another country! INDIA !

So, we have here another really interesting article about Crypto use by the people, this time in India:

https://preview.redd.it/ftogb8py3fpb1.png?557&format=png&auto=webp&s=633f19408285ddc22b1598a294a3039fe03c1559

" India has become the second largest crypto market in the world in terms of raw transaction volume, beating out the UK, Turkey and Russia. And that's despite difficulties around tax laws, according to a new report from Chainalysis. "

India has a population of about 1.4B people. Billion! Most of them live a really poor life, and it's in their culture to gather gold & hold it for generations. But with these recent movements I can't help but think, what if people in India began to exchange their gold for crypto? Just imagine the money pouring into the market and the adoption process being fastened!

So, what we can see lately is that Crypto is more & more popular and tolerated around the world. Adoption is coming with teeny tiny steps. By the way, here is the 2023 crypto adoption index top 10 chart, a chart made by Chainalysis.

Lower numbers represent more tolerance

" The first key takeaway here is that the Central & Southern Asia and Oceania (CSAO) region dominates the top of the index, with six of the top ten countries located in the region. As we explore in the full report, the circumstances driving adoption in each CSAO country are unique, which leads to different usage trends and breakdowns of most popular services. "

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So, after all of these said, I can't help but wonder, we have come sooo far in 14 years... where will we be in another 14 years? How would the crypto world look? Looking forward to your honest opinions.

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