Thread by @BitcoinEkasi

This piece by @SohaleMortazavi makes me very sad.

https://twitter.com/jacobin/status/1484575267150438404

"Given that #cryptocurrencies don’t produce anything of material value..."

Since our launch we've received many small donations in #Bitcoin via the #LightningNetwork. Most worth less than a $5 a piece.

In doing so, we've transformed the funding mechanism available to @the_surfer_kids by enabling small, direct and permission-less donations from outside #SouthAfrican borders.

This was entirely impossible before with traditional payment networks, for a variety of reasons.

More knowledgeable authors (like @gladstein) have written about this at great length.

bitcoinmagazine.com/authors/alexgl…

@the_surfer_kids have been operational since 2010 and have operated daily ever since, empowering some of the poorest and most marginalized youths in the local community.

But it's always struggled, and especially since covid debilitated its existing tourism-based funding model.

But now, thanks to #Bitcoin and the #LightningNetwork, which gives us access to a global grassroots donor base, where even the smallest donation comes straight to us, the organization is more financially secure than ever before.

And no. This is not an exaggeration.

@the_surfer_kids is now even looking at expanding its program.

You're free to follow that progress and watch us change the world.

Or.

Continue lumping #Bitcoin into the #altcoins casino, throwing the baby out with the bathwater, and missing the point entirely.

Your choice.