"Bitcoin Saved My Life"
Ah, money without borders.
This is a great personal story sourced by Joe Withrow of InternationalMan.com of a Venezuelan man who saved his mother's life by using Bitcoin to purchase medicine when sellers would not accept the Venezuelan currency (Bolivars.) Demand has soared as hyperinflation has gripped the small nation:
Image Source: Zero Hedge
Says Eli:
Treating my mother’s cancer would have been very difficult without using bitcoins because my business is going bankrupt and I have a lot of debts, so bitcoins enabled me to stay afloat while our currency is collapsing.
Two links to read (the first gives a bit more detail on the Venezuelan crisis, the second is the story):
http://www.zerohedge.com/news/2017-08-23/bitcoin-saved-my-life
http://www.internationalman.com//articles/bitcoin-saved-my-life
Highly recommended reads!
This is a great story. Whats happening in Venezuela is nothing short of tragedy. It's what happen when socialism leads to big government leads to corruption. Currency value destroyed, people impoverished and dis-empowered. The same thing can happen in the West if we let it.
That is totally inspiring! We gotta get out from under these banksters!!
Banking itself isn't the problem...
It's the BIG banks. The ones that sit on the board of the Federal Reserve, which prints money and puts it into their own pockets. Small banks provide loans to businesses, local residents, etc.
Big banks buy stock investments and bonds and even housing itself to boost asset and rent prices.
An oversimplification, sure, but it's the end result.
We don't even need banks. The future is crypto and trustless peer-to-peer lending. Once we get rid of the banking cartels the world will be a much better place!
There's always going to be trust issues when it comes to peer-to-peer lending, crypto will enable more capabilities and make it easier for people to lend to each other, but trust (underwriting, in a sense) and legal remedies will be essential for a long while to help make sure people will actually pay back their bills. Putting banking power in the hands of the populace makes this a lot easier to validate and process though. It'll happen, but it'll probably take a few decades.
(That said, this whole Bitcoin explosion happened faster and more suddenly than I ever expected.)
There are are few bitcoin loan sites but rightnow anyone who wants to loan it might be going insane. The price just goes up tomuch. It makes more sense to loan dollars. I have heard of tether which matches a dollar so loaning tether the cryptocurrency seems to make more sense for an internet bank peer to peer lending program.
This comment has received a 3.13 % upvote from @drotto thanks to: @trending.
This comment has received a 3.13 % upvote from @drotto thanks to: @trending.
This is great that people like you can make this work.
Sending blessing to you and to your mother.
I use bitter apricot kernels 7 a day as well as changed my life style completely.
This post has received a 3.13 % upvote from @drotto thanks to: @trending.