LETTER #4: BITCOIN'S CRITICS NEED TO LOOK AT THIS.
While they are criticizing Bitcoin they need to look at how Africans are using it as a lifeboat.
When you see mainstream media and western elites talk about Bitcoin, chances are that they will bombard you with opinions like these:
“Bitcoin is worse than tulip mania.”
“Bitcoin is for criminals.”
“It will go to zero.”
“It provides no utility to anyone.”
And the list goes on.
Alex Gladstein - a human rights advocate - wrote an article for Bitcoin Magazine. Here’s an excerpt from that:
I would recommend you to give it a read.
It puts light on how millions of people living in Sudan, Nigeria, and Ethiopia are using the Bitcoin network to escape financial tyranny and seek out financial freedom.
These are the African countries that are not privileged to have stable currencies like the dollar, euro, yuan. 87% of the world’s population lives in the region with less trustworthy currencies, 4.3 billion people live under authoritarianism, and 1.7 billion live under double or triple-digit inflation. It’s impossible/extremely difficult for them to connect to the outside world financially.
They could never hope for better lives until Bitcoin.
Bitcoin - being an open, decentralized, permissionless network - can be joined by anyone with access to the Internet. People are using the network to collect remittances from their families abroad. It’s instantaneous, free, and 24/7.
The inhabitants of the western world who constantly condemn Bitcoin, need to consider the fact that the Africans - unlike them - don’t have stable currencies, they live in war-torn countries where their wealth is stolen regularly.
I have some advice for the privileged western elites who constantly denounce Bitcoin without considering or looking at how millions of people are benefitting from it: Keep your mouth hole closed.
For many, Bitcoin is the only hope for a better future.
BEFORE READING THIS: People use Bitcoin only to make a quick buck.
AFTER READING THIS: People use Bitcoin to escape financial tyranny.