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Share this quote with someone in Venezuela with a straight face. Or the countless unbanked that have access to a divisible digital gold but not stocks, bonds, gold, or enough to direct invest.



I can definitely agree that Bitcoin is a step in the right direction for expanding access to the financial system and I think the whole DeFi space on Ethereum is pretty incredible too (Uniswap, Curve, etc). It's outrageous that there are hundreds of millions of people who can't even open a bank account because they have no form of ID. I recognize that theoretically everyone can have a Bitcoin address and obviously there is tremendous value in that. But it's unlikely that these people will have real access to Bitcoin either when you consider that most Bitcoin users get it through centralized exchanges like Coinbase who must comply with whatever AMC/KYC garbage FINCEN and the rest of the American regulatory apparatus put out.

I would guess that Venezuelans mostly want a stable currency. There's plenty of reports (https://www.reuters.com/article/us-venezuela-economy/dollars..., https://www.npr.org/2020/02/19/807488229/use-of-u-s-dollar-i..., https://www.bloomberg.com/news/articles/2019-12-03/there-are...) of Venezuelans using USD and there are plenty of other developing countries (Lebanon, Zimbabwe, etc) that have a widespread black market for dollars. From Feb 21 to Feb 27 Bitcoin's dollar value dropped by 25%. From Feb 27 to today Bitcoin's value has increased by almost 30%. Even with all the inflation fear going on now safe-haven currencies like the Swiss Franc do not have this level of volatility. If you just want to avoid hyperinflation there are much safer (and [accessible](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iaETafdC5WN...)) places to park your savings.


I have read about too many hyperinflation stories that I forgot the specifics of Venezuela but the vast, vast majority of them are caused by food shortages which themselves are caused by government repossession of productive assets. The problem is that the government is stealing your land, your company and your gold. The problem isn't that money is getting less valuable, it's that there is nothing to spend it on.




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