Bitcoin (BTC) is for those who need it most. The rest may take some time to learn. The message echoed through casino conference halls at a panel at Surfin Bitcoin, a Bitcoin-only conference in Biarritz, France, on August 26.
Panelist Ben Perrin, Bitcoin YouTuber. Ernesto Hernandez, business consultant in El Salvador. Carroll of the popular Brazilian YouTube channel Area Bitcoin tackled the tricky topic “Victims of the global banking system: Inflation, censorship”. Bitcoin’s role in such a test environment was questioned.
Panelists unloaded experiences, evidence and anecdotes from their respective countries to address this topic, including Perin from Canada, Hernandez from El Salvador and Carol from Brazil. For example, Hernndez was quick to explain that Bitcoin is not a silver bullet in El Salvador.
The small Central American country introduced ‘Ray Bitcoin’ in 2021, but ‘remember, 8 out of 10 Salvadorans didn’t have a bank account,’ he explained. . “It’s a giant leap for people to buy a house or buy groceries” without any prior knowledge of how banks and financial services work.
Additionally, the government-backed Chivo app was criticized and even attacked by protesters upon its initial release. Government apps are still under scrutiny. During a Q&A session, Bitcoin His podcaster Ricky (who spent his 45 days in Bitcoin only with his partner Laura) asked Hernndez about sending Bitcoin to El Salvador.
Rikki cited reports on El Salvador and remittances. This, while positive, shows that Bitcoin is underutilized for payment of remittances. Ernesto explained that interest in El Salvador now tends to come from foreign investors and Bitcoin enthusiasts, rather than Salvadoran workers living abroad sending money back home. The real challenge is educating Salvadorans about the benefits of using Bitcoin as a money transfer tool.
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Nonetheless, he smiled, adding that it was pleasant to see Salvadorans who had never used banking services before save and spend their money using bitcoin on the Chivo app. Told. Moreover, his SEO term invest in El Salvador did not exist before Raleigh his Bitcoin. Bitcoin actually put countries on the world map and put them on the World Wide Web by proxy, he explained.
Bank “victim”
Carroll, whose YouTube channel recently became a bitcoin-only channel, explained that the sacrifice of Brazilians by the central bank is historic. Brazil has endured “8 of her nine currencies have disappeared in the last 100 years due to hyperinflation due to the printing and mismanagement of banknotes.” In addition, Brazil’s current national currency, the real, which he is 27 years old, has “already depreciated by 86%.” Bitcoin is a way to opt out of such systems.
Ben Perrin launched the “largest protest in Canadian history”, the Canadian Truck Drivers’ Protest, also known as the “Freedom Convoy”. He explained that the banking system can target specific individuals and groups. Furthermore, he alluded to collusion between the banking system and the government.
Canadian media are directly subsidized by the government. They make billions of dollars each year. It helps if you have
Ultimately, he also acknowledged that sometimes the banking system doesn’t work, and it’s neither the fault of anyone nor the intended result. Hernndez shared that he was given only seven days to
About the bear market
Perrin was optimistic, saying bear markets are for building and that 2022 has some surprising innovations underway. Nevertheless, Bitcoin lives in a bubble unknown or ignored in the rest of the world. Carroll added that bitcoin is most “attacked” in bear markets, but it also gives bitcoin time to come back to life, urging people to take their time.
The Fiat mindset is a short-term mindset. Everything has to be quick, now, tomorrow, instantly. Fiat currency discriminates, but Bitcoin can be used by anyone. When you start thinking about , you start thinking about all the choices in life.
Carroll compared the government’s manipulation of money to ways of manipulating mindset. Even in a high-inflation environment like her home country of Brazil, Bitcoin adoption is still slow. to tell.
Related: Stakinsat Founder Says Pro-Blockchain Narrative Hinders Bitcoin Adoption
Finally, Hernandez reiterated that while education remains the most important factor for Bitcoin adoption, technology remains a challenge. He states, “If you grab the knife on the other side, you cut your hand.” You have to learn how to use a knife.
He said small seeds of adoption are now sprouting up across the developing world. He gave the example of Machankura. This is a company that provides bitcoin via lightning to people without internet connection in Africa.in the group support From names including Jack Dorsey.