Read on Twitter
“Bitcoin has no use except for speculation by tech bros”. A debunk thread.
Bitcoin is used in this village in El Salvador because “majority of residents are unbanked and the local businesses don’t meet the requirements that would enable them to accept credit cards.” https://www.google.com/amp/s/www.forbes.com/sites/tatianakoffman/2020/07/14/this-el-salvador-village-adopts-bitcoin-as-money/amp/
Bitcoin was used by the Nigerian gender equality protestors to raise 40% of their money when they “noticed bank transactions were being slowed down while its online payment links to facilitate donations had stopped working” https://qz.com/africa/1922466/how-bitcoin-powered-nigerias-endsars-protests/
Bitcoin was used to help freedom protestors in Belarus. “BYSOL chose bitcoin as a way to transfer funds as other ways are under the total control of the government,.” https://www.coindesk.com/belarus-dissidents-bitcoin
Bitcoin is used to help women in Afghanistan learn to code and earn seizure resistant money in a place not served by normal digital payment networks. https://www.inverse.com/innovation/57129-fereshteh-forough-afghanistan-bitcoin
Bitcoin will be used by energy giant Equinor to mitigate gas flaring. https://www.nasdaq.com/articles/energy-giant-equinor-to-cut-gas-flaring-with-bitcoin-mining%3A-report-2020-08-28
Bitcoin is being used by public and private companies as a reserve asset because its is safe from debasement, unlike the dollar. https://seekingalpha.com/news/3616283-cash-melting-ice-cube-microstrategys-saylor-talks-move-bitcoin
Bitcoin was used along with gift cards to send remittances to Nigeria to get around a failing currency and capital controls that force people into a disadvantageous government controlled exchange rate https://link.medium.com/KmwLM0z3Zbb
Bitcoin was used to circumvent bad government exchange rates to send remittance to Venezuela https://link.medium.com/UtIDpyO3Zbb
Bitcoin is used in Texas to balance green energy grids using a dynamic load response. “The move isn’t just profitable — it’s key to using more renewable energy.” https://www.bloomberg.com/news/articles/2020-09-01/bitcoin-miner-is-scoring-700-profits-selling-energy-to-grid
Ukraine wants to use Bitcoin to balance loads and maximize profitability on nuclear power plants. https://www.theblockcrypto.com/post/64189/ukraines-nuclear-power-plants-may-start-mining-cryptocurrencies
Number one finance app public company Square bought $50M of Bitcoin because it is an “instrument of economic empowerment” https://squareup.com/us/en/press/2020-bitcoin-investment
Bitcoin was used by Venezuela to settle trades with Turkey and Iran. https://twitter.com/criptobastardo/status/1335448046642061312?s=21
Iran’s central bank is accumulating Bitcoin to settle trades with countries after being pushed out of the dollar system by America. https://asiatimes.com/2020/10/iran-to-use-bitcoin-to-fund-imports/
These last two might trigger some Americans, but Iran is a country full of good people that are just trying to survive. Even if we don’t like their leaders, America shouldn’t have the right to economically disable entire countries.
The variety of use cases presented here should make one thing clear: money has infinite uses. Bitcoin is amassing use cases as it becomes money.
If you’re at the bottom of this thread and are still not convinced, you may be suffering a case of living in a yuppie bubble. Please read this before you send hate tweets. https://www.citadel21.com/why-the-yuppie-elite-dismiss-bitcoin
A good deal more coverage on human rights usage of Bitcoin is compiled below by @gladstein. https://twitter.com/gladstein/status/1340836877595594752
https://twitter.com/gladstein/status/1340836877595594752
