The more legitimate you become, the more you’ll be trusted with the simplest, but most pervasive, things.
Applies heavily to the #Bitcoin situation in El Salvador.
Applies heavily to the #Bitcoin situation in El Salvador.
Checked out #BitcoinBeach for a few days, and specifically the work of @NewStoryCharity, which is building homes for people that are connected to the internet & web3.
People earn their way into these homes through affordable mortgages that are paid and accounted for in $BTC.
People earn their way into these homes through affordable mortgages that are paid and accounted for in $BTC.
The @NewStoryCharity site below is funded by @coinbase, homes will be ready by EOY.
People we met getting these homes are over the moon.
The mortgages are USD denominated, but paying in BTC collapses the collection and audit costs.
People we met getting these homes are over the moon.
The mortgages are USD denominated, but paying in BTC collapses the collection and audit costs.
While the population is no doubt curious about BTC, a lot of education remains, and Chivo will either need to vastly improve, or (hopefully), open-source wallet implementations will become dominantly used.
Once BTC is well understood, people will have the opportunity to save not just through a mortgage, but just save at all.
Again, the simplest, but most pervasive things.
Again, the simplest, but most pervasive things.
To date the vast majority of El Salvadorans have not had a reliable way to save.
Without a way to save, people have had little reason to delay their gratification and hold out for more later.
Without a way to save, people have had little reason to delay their gratification and hold out for more later.
In the current environment, even if they do save, cash can easily be stolen or extorted. And forget about yield.
In one way or another, this simple notion of delaying payout now for more later, and being right in that discipline, is the primitive requisite to grow resources in a capitalist system.
$BTC is an obvious solution to this saving dilemma—and while some may groan, $ETH too.
But it will be all about education.
But it will be all about education.
As crypto gains legitimacy, we’re back to square 1 in its deployment.
It will be the simplest things that will be most important to teach everyone.
It will be the simplest things that will be most important to teach everyone.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
