3 ms·
Well I was replying to your comment about general appeal of bitcoin to the masses. Your last question relates as to why certain countries are adopting first. I
by lordfrito 4y ago
Well I was replying to your comment about general appeal of bitcoin to the masses. Your last question relates as to why certain countries are adopting first. I think that's an important distinction, might not be the same underlying reasons.
I don't have answers, but I can throw out potential answers that come to mind.
- I agree there's utility to the unbanked. Having a bitcoin is better than having nothing. Could be better than national currency depending on the country you're living in. I still suggest that those people would rather get their hands on $$$ if they could.
- A lot of crypto is used for crime. 419 scams come to mind (yes I know a lot are in $$$). The point is that some of the adoption in these poor countries could just be explained by criminal utility.
I appreciate your perspective. My point being I don't think it's that cut-and-dried. My gut says bitcoin is better than nothing, but $$$ are better still for most.
Lastly, and it's an important point I keep forgetting to make. Almost everyone into bitcoin are into it because of the $$$ they can later get out of it. That's a huge litmus test for me, telling me that it's not about the bitcoin to them. They want $$$ at the end of the day.