Much of Bitcoin criticism (the chicagofed paper included) is very western centric and fails to take into account how utterly dysfunctional most countries' money

Much of Bitcoin criticism (the chicagofed paper included) is very western centric and fails to take into account how utterly dysfunctional most countries' money systems are. In most countries in the world local currencies are unstable and subject to the whim of politicans (would you keep your life savings in argentinian pesos? Neither would Argentinians!), there are no easy ways to accept online payments, there are no easy ways to transfer money to/from abroad etcetera. I would argue that adopting Bitcoin is an immediate quality of life improvement for a big portion of the world population, moreso when/if it value stabilizes.