You remember the story about me recharging my mom’s phone with Bitcoin?

What I did at the airport intrigued her. She was unsure if it’s internet imaginary money or if it’s something real.

I stacked a tiny amount for her when she was here, opened an exchange account for her and showed her how to use her own wallet instead if keeping all on exchange. I then explained to her about how fiat is designed to inflate and why she worked 6-6 daily without weekends for 35 years but retired with not much in her savings. I didn’t think she would be orange pilled though.

For context: - In the first half of her 35 years of working and running various small shops, Vietnam has “changed money” a few times, each time cutting one to a few 0s in their banknote. During these period of cutting 0s, everyone needs to hand in all the cash and get back a capped amount. In September 1985, another zero is dropped and as a single person, you can exchange all the cash you own to get back 1500 VND. One USD was equal to roughly 1 VND back then. In 2022, 1 USD roughly equals 22000 VND - In the second half of her career, the government put a cap on their monetary policy, inflation was tamed down to 3-7% a year. She keeps working 12 hours a day, 7 days a week - This year the government is talking about temporarily suspending inflation cap to “fight Covid”

Here are her choices to even hope for a storing enough value for retirement : - SP500 or foreign stock markets: Not possible as a Vietnamese - Real estate: Not enough cash - Gold: Possible - US Dollar: Possible but Gov controls how much you buy or sell - Vietnamese stock market: Possible but very young market with min investment of 100 units of stock at a time, account can be suspended at short notice - Saving account in cash: Possible - Bitcoin: Possible to purchase for the time being

Today she calls to talk about DCA small amounts she doesn’t need immediately and I am a proud daughter.

On the one hand, I was sad to see a loved one worked so hard day in day out for 35 years without a sure retirement. On the other hand, the experience gave me a completely different perspective on why Bitcoin is needed.

I know Bitcoin is dropping again today but guess what?

Onward and upward! This is not about short term gain, but long term right for hard working human to NOT have their lives worth inflated away at retirement.