UNPOPULAR OPINION: The Bitcoin revolution is not going start from the Global South. Once these countries get dollarized and the “age of abundance” comes with the stablecoin, people will accept it with the trade-offs. And I don’t blame them.
Their lives have been so incredibly difficult for such a long time that they will welcome the change and don’t give a fuck about the problems related to stablecoins that people in the first world countries are worried about. I might be wrong. And I hope that I am wrong, but I just think that if “the age of abundance” is threatened by Bitcoiners' property rights claims, people do not have any sympathy (or empathy, I don’t know which one is the right term here) for Bitcoiners.
In the end, local people will think that “if Bitcoiners quit being so fucking irritating and simply start using stablecoins, then everyone is going to be happy, including the stupid Bitcoiners”. That’s how I think it’s going to play out. I am totally ready to change my opinion though.
In that sense it’s the same as in El Salvador. Salvadorans are not going to complain about the fact that Nayib Bukele has removed the presumption of innocence and people’s right to privacy, because the murdering and raping has finally ended. People think that the trade-offs are worth it. If you want to go to El Salvador and campaign for the right to privacy, presumption of innocence and open carry, good luck with that. I would not be surprised if the locals themselves would be happy to see you in the maximum security prison.
However, it does not mean that the places in the Global South (El Salvador included), where Bitcoin is used as money (peer-to-peer cash) cannot work as great role models for the whole world. We know that in the end it’s very simple — sats must flow.
Yes — some could say that the Bitcoin revolution has already started. And that it has started exactly in the Global South. I am totally okay with that characterization, but I just worry that Bitcoiners have their hopes too high for those countries. If you are a Bitcoiner, who does not live in the Global South, do not expect the local people in those countries to save you.
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