True Crypto uses and straw man first world country arguments

One of the most common arguments I hear against crypto is something along the lines of ‘just invest, I don’t need crypto to buy my coffee etc’ - usually this comes from first-world country peeps that have no idea about how the majority of people in this world actually live.

While I am from the UK, I have in-laws in a defacto authoritarian state, and from years of travel and living abroad, I was always fascinated about the number of messed up things that such governments get up to.

Sure, if you are in the US, Europe, Japan etc, the system works well enough, you’re not worried about being cut off from your bank, and you buy your food every week with no problem.

But the real problem crypto is solving is a global one.

Of 160 different fiat currencies in the world, most are basically, terrible. They don’t hold their value and aren’t accepted anywhere. People in these countries find it very hard to save in liquid value. I’ve watched my wife’s family have their money eroded into the floor in ten years. the bank announces massive fees for having USD in an account, bank trying to charge 50% fee to wire foreign currency out etc.

We know the dollar degrades too, just more slowly, hence why people need to buy real estate and stocks to stay ahead, and while there are pros and cons, this works well enough, all things considered, but these are not things that can be accessed by all.

In a country like Yemen or something, the currency degrades much more quickly, the stock market is not robust enough to even be an option and people are left with illiquid real estate as an option, or literally just holding dollars under a mattress, with no interest and theft / fire liability or maybe gold. Just don’t get robbed.

Even if they want dollars, banks often use capital controls (or have shortages) and can’t be trusted (like in Beiruit for example) and people have to get their money at the black market at a terrible rate (although central banks in these countries also invent whatever rate they like).

Getting liquid capital is almost impossible and black market + mattress is the best technology they have for saving.

This is a reality for billions of people but is abstracted away from us in Europe, the US.

But this is the true bullish case for crypto, even if just USDT, is that it gives people in these countries liquid value, can’t be seized by the bank, or a dictator, move it where you want, nobody can stop you. Gives a bank to the unbanked. buying a coffee isn't what it's about, although you can with an L2 if you want.

While btc or other cryptos might be too volatile for now, the solution to dictator – inflation govs is already here.

And people saying, it’s just monopoly money etc, are simply uneducated. Lebanese pounds are monopoly money.

The bullish case for crypto in the Western world for people who only want to see number go up is the institutions taking their place and making it more available to people via ETFs and traditional vehicles.

but even then, the wind is blowing in a different direction and one day the music will stop for the dollar dominance and all the printing will catch up and btc will be there with open arms.