4 ms·
Bitcoin is most popular in countries with high inflation and countries with capital controls. That coincides with bad policies, mismanagement or even oppression
by nroets 5y ago
Bitcoin is most popular in countries with high inflation and countries with capital controls. That coincides with bad policies, mismanagement or even oppression.
As a citizen of such a country, I can see the attraction of Bitcoin. Bitcoin offers hard-working people a way out. (South Africa has relaxed it's capital controls to the point where I never considered buying Bitcoin. But there are some millionaires here who are not allowed to take all their money out)
- shapefrog 5y ago> Bitcoin is most popular in countries with high inflation and countries with capital controls. That coincides with bad policies, mismanagement or even oppression. Source please? I would have guessed; by market cap the majority is held in the US and Europe. I would have guessed: by transaction volume, the majority in the US and Europe.
- nroets 5y agoChina dominates Bitcoin mining and the latest crypto exchanges are either run by Chinese or are headquartered in Hong Kong. China has capital controls and little press freedom. Note that the US and Europe has highly evolved capital markets. They may have deep, liquid markets, but it does not reflect the relative popularity of Bitcoin.