You are viewing a single comment's thread from:
RE: Deeper Dives: Living la Vida Unbanked in the World of Digital Currencies
Being unbanked in a country in western Europe, i must say that this is one of the bigger solutions that btc and altcoins bring to the table.
@brakan, Thanks for reading and commenting. I appreciate it.
In Europe and the US, we have almost always had the benefits of a stable currency, until recent history. As a result, I don't think anyone seriously considered the need to hedge against fiat outside of the usual instruments (stocks and bonds). For Europeans, the moment which should have made them consider Bitcoin more seriously was watching what happened to Cyprus. I can remember in the Reddit Bitcoin forums I was part of, we were fundraising Bitcoin to send to them as our own relief mission. We did it again when the same thing happened to Greece.
America is having it's Cyprus moment with Puerto Rico. If one seriously thinks Puerto Rico is an isolated case and it won't happen to individual and collective states, you are in denial.
CNBC yesterday evening ran an entire piece about how holding Bitcoin is responsible portfolio management because it's hedging against US Dollar risk. The CEO of Fidelity Investments confessed they are currently mining Bitcoin in their building. Let that sink in for a minute.
I echo your sentiments about Bitcoin and Altcoins providing options which cannot be conveniently removed by legislation on regulation. It's creating the ultimate check on power where we can truly opt out if we want to.
You are so correct, and cyprus should have opened manys eyes, but it unfortunately did not for me, but puerto rico made it impossible not to!