Westerners Can Envision a Failure of Bitcoin, Not the Rest of the World, Which Has No Other Option

June 2021 is coming to an end, and the fear is slowly starting to dissipate in the Bitcoin world. China’s ban on Bitcoin is leading to the great exodus of Bitcoin mining from China to the West. Many mining companies are moving their equipment to America, while others will choose Europe or Central Asia.

For many players in the Bitcoin world, this ban by China is a great opportunity.

A chance to redistribute the cards in a more decentralized way in terms of Hash Rate. A chance that the countries where these companies will set up shop will have democratic values that better correspond to the freedoms that Bitcoin defends.

All those who have been panicking for several weeks will sooner or later realize that something extremely Bullish for Bitcoin is happening right now. The effects on the price of Bitcoin will be felt in the months and years to come, as it always takes time for retail investors to realize things.

That’s just the way it is. For those who can take the long view, the big opportunities are now in my opinion. Now is the time to take advantage of the opportunity to accumulate more BTC. Of course, the essential prerequisite is to have complete confidence in the Bitcoin revolution.

El Salvador’s President Nayib Bukele has this fundamental confidence in Bitcoin.

His country has just passed a law that makes Bitcoin an official currency alongside the US dollar. It will go into effect in early September 2021. To help the people of El Salvador embrace the Bitcoin revolution, each citizen will receive $30 in BTC in a wallet of their choice.

Citizens will have the right to choose between the wallet proposed by the government of El Salvador and the one of their choice.

The President of El Salvador realizes that Bitcoin is an essential opportunity for his country. The IMF and World Bank do not want to support El Salvador, but this is simply proof that these institutions understand that Bitcoin makes them obsolete.

In his willingness to fully embrace the Bitcoin revolution, Nayib Bukele is offering favorable terms to Bitcoin entrepreneurs who would like to move to his country. In addition, El Salvador will become a Bitcoin mining player by taking advantage of the energy produced by its volcanoes.

A way to support the green mining of Bitcoin.

Many in the West are constantly criticizing El Salvador’s decision. Powerful people in the current system, whether in politics or business, are dismissive, saying that El Salvador is going bankrupt with its choice or that El Salvador is too small a country for it to mean anything significant to the Bitcoin revolution.

All of these Westerners allow themselves to consider Bitcoin’s failure for one simple reason: they currently have other alternatives available to them.

Of course, these other alternatives are not nearly as beneficial to individuals as the Bitcoin system, but to the general public, that seems to be enough today. Many live by accepting a comfortable lie represented by the current monetary and financial system.

Their purchasing power has been declining for several decades, but in the end, they feel they live better than anywhere else in the world, and they don’t even realize the total injustice of the current system.

This injustice is felt by hundreds of millions of people around the world. However, these people have no say in decisions that affect the monetary and financial system. Only the richest countries can make decisions in this area.

These millions of people are already making Bitcoin a plan A in their daily lives.

Bitcoin gives these non-Westerners incredible guarantees to protect their money future. Bitcoin is a bulwark against the monetary hyperinflation and censorship that corrupt rulers have subjected them to for decades.

Moreover, for millions of people excluded from the current banking system, Bitcoin is the chance to enjoy a payment system accessible to all with a simple smartphone and an Internet connection. There is no need to ask permission from a higher authority to benefit from what Bitcoin offers.

This is a major paradigm shift.

De facto, all these people are already dependent on the success of Bitcoin. A failure of Bitcoin would send them back to their old lives with no hope for a better future.

I was reading a testimony the other day from a resident of El Salvador who explained what he had to do to pay his bills right now:

“I spend an hour on the bus, and another two hours waiting to make the payment.”

From the beginning of September 2021, when everyone will be required to accept Bitcoin as a means of payment in El Salvador, that person will be able to pay their bills instantly from their home using the Bitcoin system.

This is just one example of what Bitcoin is already doing for millions of people around the world.

Source: https://www.inbitcoinwetrust.net/westerners-can-envision-a-failure-of-bitcoin-not-the-rest-of-the-world-which-has-no-other-option-e8204bcd4670?source=rss——-8—————–cryptocurrency