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There are tons of people using it for its apolitical and censorship resistant nature. Afghanistan/Ukraine/Lebanon/Argentina/Venezuela/Nigeria/Turkey/Belarus/Mex

There are tons of people using it for its apolitical and censorship resistant nature. Afghanistan/Ukraine/Lebanon/Argentina/Venezuela/Nigeria/Turkey/Belarus/Mexico to name a few countries where it is very relevant and useful https://www.bbc.com/news/world-asia-60715707 https://www.bbc.com/news/world-asia-60715707 https://www.financialinclusion.tech/ https://www.financialinclusion.tech/

lokar 4y ago
What percentage range (total value, transactions, etc) would you say counts as "tons"?
- cdiddy2 4y ago
  Its really hard to get a good gauge on that. There is a lot of data but its all very piecemeal and hard to aggregate. Could spend a week trying to get an idea of it and still not be sure. Here is my couple minute version though. For 2020 in Mexico alone from Bitso: "Frida Vargas, head of business sevelopment at Bitso, told CoinDesk the company processed about $1.2 billion in remittances between the U.S. to Mexico in 2020. “Our main users are remittance companies, who use crypto technology to improve and make the remittance sending and collecting process easier,” she said."[1] In Argentina: "Cryptocurrency penetration was at 12% in Argentina, vs. 29% credit card penetration, indicating impressive crypto uptake in that country"[2] "There is high interest in receiving crypto remittances in various LatAm markets, such as Peru (33%), Argentina (19%), Mexico (15%), and Brazil (8%)"[2] There is also chainalysis[3] data for small transfers in LatAm showing 1.5M monthly transfers at a total value of 300M monthly volume. https://pbs.twimg.com/media/FPCfq-LWUAEctzT?format=jpg&name=large https://pbs.twimg.com/media/FPCfq-LWUAEctzT?format=jpg&name=... [1] https://www.yahoo.com/video/mexican-remittances-continent-largest-crypto-184043846.html https://www.yahoo.com/video/mexican-remittances-continent-la... [2] https://americasmi.com/pdfs_landings/220211_The_cryptocurrency_revolution_in_Latin_American_payments_EN_09.pdf https://americasmi.com/pdfs_landings/220211_The_cryptocurren... [3] Page 42: https://go.chainalysis.com/rs/503-FAP-074/images/Geography-of-Cryptocurrency-2021.pdf https://go.chainalysis.com/rs/503-FAP-074/images/Geography-o...
- spookthesunset 4y ago
  I'd guess it is around 1%? Maybe less? Certainly not more than 5%
bobkazamakis 4y ago
>There are tons of people using it for its apolitical and censorship resistant nature. bahahaha. the story never changes but bitcoin is always the proletariat fighting against the powers that be. Don't worry, El Salvador is accepting it as legal tender!

lokar 4y ago

What percentage range (total value, transactions, etc) would you say counts as "tons"?

cdiddy2 4y ago
Its really hard to get a good gauge on that. There is a lot of data but its all very piecemeal and hard to aggregate. Could spend a week trying to get an idea of it and still not be sure. Here is my couple minute version though. For 2020 in Mexico alone from Bitso: "Frida Vargas, head of business sevelopment at Bitso, told CoinDesk the company processed about $1.2 billion in remittances between the U.S. to Mexico in 2020. “Our main users are remittance companies, who use crypto technology to improve and make the remittance sending and collecting process easier,” she said."[1] In Argentina: "Cryptocurrency penetration was at 12% in Argentina, vs. 29% credit card penetration, indicating impressive crypto uptake in that country"[2] "There is high interest in receiving crypto remittances in various LatAm markets, such as Peru (33%), Argentina (19%), Mexico (15%), and Brazil (8%)"[2] There is also chainalysis[3] data for small transfers in LatAm showing 1.5M monthly transfers at a total value of 300M monthly volume. https://pbs.twimg.com/media/FPCfq-LWUAEctzT?format=jpg&name=large https://pbs.twimg.com/media/FPCfq-LWUAEctzT?format=jpg&name=... [1] https://www.yahoo.com/video/mexican-remittances-continent-largest-crypto-184043846.html https://www.yahoo.com/video/mexican-remittances-continent-la... [2] https://americasmi.com/pdfs_landings/220211_The_cryptocurrency_revolution_in_Latin_American_payments_EN_09.pdf https://americasmi.com/pdfs_landings/220211_The_cryptocurren... [3] Page 42: https://go.chainalysis.com/rs/503-FAP-074/images/Geography-of-Cryptocurrency-2021.pdf https://go.chainalysis.com/rs/503-FAP-074/images/Geography-o...
spookthesunset 4y ago
I'd guess it is around 1%? Maybe less? Certainly not more than 5%

bobkazamakis 4y ago

>There are tons of people using it for its apolitical and censorship resistant nature. bahahaha. the story never changes but bitcoin is always the proletariat fighting against the powers that be. Don't worry, El Salvador is accepting it as legal tender!