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Those telling people in third world countries that crypto is not their only chance, that they can buy stocks, bonds, and precious metals. How? How is someone from a third world country with third world wages going to buy an ounce of gold? How they going t

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by COINS NEWS 238 Views

Sure, you'll probably say they can buy their own countries stocks or bonds. But then they're buying stocks and bonds in companies that are financially tied to a failing currency and corrupt government. Ask people in Venezuela how well their stocks and bonds rated in Venezuelan bolivars did. Or ask a Zimbabwean or Nigerian. The world is much bigger than just the US or first world Countries like the US.

And telling people from third world countries that they can just buy stocks and bonds they don't have access to is a bit of a slap in the face to them. It's like showing them the greener lawn on your side of the world that they don't have access to.

Here in America we're financially spoiled. We haven't experienced hyper inflation like a large portion of other nations have. At least not yet that is. We're comfortable with our dollar unlike them where the price of milk changes in the afternoon and fluctuates as if it was a cryptocurrency itself against their countries currencies.

This is why third world country citizens have an easier time seeing the benefits of Bitcoin and faster adoption than those of us in first world countries, because they actually need it relative to their countries currencies inflation. A great example is Nigeria leading adoption growth this year above every other country. Another example is Venezuelans, because those who held Bitcoin from $20k in 2018 down to $3k after the dip were still better off than their fellow Venezuelan citizens who held their countries currency. Those who held a million US dollars worth of Bolivars in 2017, a few years later only held $3 dollars worth of the same amount of Bolivars that once had the value of $1 million USD not even 3 year prior.

So please, stop pretending like the whole world is as fortunate as the country you come from, and notice that this technology is bringing financial abilities to those in countries where they wouldn't be able to get these abilities any other way. Like staking, crypto collateralized loans, saving money that doesn't suffer the faults of their countries inflation, etc.

This technology was invented to bring everyone financial abilities that only few before cryptocurrency had the ability to do. Just like Email and the internet brought everyone with a smart phone abilities to access and send information that before the internet only few had the ability and financial means to do.

submitted by /u/ThrowAwaydntopnddins
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