Hello Humble Bitcoiners!
It's Thursday! With so much going on in the world, it's nice to focus in on some Bitcoin content. |
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📝 Today's Rundown - Zimbabwe vs. Inflation: Zimbabwe, currently faced with incredible inflation, could benefit greatly from increased adoption of the open network of Bitcoin.
- Fiat Knowledge: A result of information sources being centralized and misaligned in incentives.
- Banned In Nigeria: More than a year since Nigeria banned bitcoin services, its SEC has released updated regulations. Will the bitcoin market be affected?
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Proof Of Resilience - Zimbabwe Can Use Bitcoin To Change Its Future
By Alexandria Zimbabwe, of all countries, is probably one that could benefit the most from the decentralized, scarce and immutable monetary policy of Bitcoin. Zimbabwe not only has the highest annual measured inflation rate in the world but also, due to international sanctions, the country has lost more than 100 relationships in the correspondent banking network, which makes it practically impossible for Zimbabweans to transact across borders.
This article analyzes the economic struggle that Zimbabweans have had to deal with for decades. It then explores all the advantages and improvements that a digital currency that can be transacted freely worldwide without the need of anyone's approval, that has shown strong long-term appreciation and that is fully scalable could bring to a country like Zimbabwe. |
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Fiat Knowledge: Only Bitcoin Creates A Culture That Rewards Verification
By Jimmy Song "Don’t trust, verify."
That's one of the main ethos of the Bitcoin ideology and philosophy — but in general, it is easier said than done. Nobody wants to do the hard work of verification and most people want to simply trust somebody and not worry about seeking out the truth.
In this very well written piece, Jimmy Song discusses the term “fiat knowledge” to explain the problems of society due to its lack of desire to verify knowledge and stand up against the opportunistic authorities. With their tendency to exploit people's inclination to fit in and the social pressure that conventional wisdom and political correctness puts over society's shoulders, verification is essential to improving our knowledge. |
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| It's been almost a year and a half since the Central Bank of Nigeria enacted an order to effectively prohibit financial institutions from facilitating cryptocurrency-related transactions and ceased the activities of accounts that had any association with cryptocurrency operations. Since then, outrage and confusion has been the norm for anyone desiring to operate with Bitcoin inside Nigeria, a country with growing Bitcoin usage and where virtual currency has boomed in the last five years.
Last month, the Nigerian Security and Exchange Commission released a set of regulations aimed at governing the issuance, exchange and custody of digital assets. This new set of regulations aim to solve many of the perceived problems with the cryptocurrency market in Nigeria. The author of this article discusses the implications on this new set of digital asset’s regulations and how, while the ban on financial institutions made it difficult for individuals to facilitate cryptocurrency transactions, Bitcoin has thrived in Nigeria nonetheless. |
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By Proof of Steve
It might feel too soon to say that we have beaten the bears and we will trend higher for now. But it isn't too late to say that it is inevitable. Bitcoin has already won, because you and I understand that our currency is broken — and we are not just hoping for a change, we are voting with our money.
Stack sats,
Bam |
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Today's email was brought to you with ♥ by Bam.
Keep on reading, keep on stacking. |
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