Can Bitcoin be Palestine's currency of freedom??

_BlackStar

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Quote from: Note3 on October 04, 2022, 01:14:21 AM

Without permission from the government the Palestinian people can use Bitcoin but how they can get financial freedom is a personal matter and how they know how to use Bitcoin to benefit them

There is no financial freedom with a fiat financial system because governments and bank can restrict you with a number of rules. But bitcoin allows you to have financial freedom where you can send and receive millions of dollars without the need for approval from any authority. This is what financial freedom really means, but you can't expect the government to allow it.

Financial freedom is not meant because you can make a profit in the market for your investment and trading activities, that is something that should be outside the context of financial freedom.

Note3

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Quote from: Majestic-milf on September 29, 2022, 10:52:09 PM

Can Bitcoin be allowed to grant the financial freedom for Palestine that which El Salvador and Central African Republic are experiencing?
https://bitcoinmagazine.com/culture/examining-bitcoins-role-in-palestine

Without permission from the government the Palestinian people can use Bitcoin but how they can get financial freedom is a personal matter and how they know how to use Bitcoin to benefit them

$anounimus$

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I think Bitcoin will be able to do what banks can't. Bitcoin can not only garner more financial support but also give people a sense of legitimacy, as well as a way to regain their lost honor in the world.

In fact, knowingly or unknowingly many people have witnessed firsthand the power of Bitcoin to innovate in life and wished the whole world had a chance to benefit from it. "BTC For Everyone".

Leviathan.007

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As far as I know, we cannot have much information about Palestine because of wars and fights between Muslims and Jewish governments but regarding bitcoin since the government of Palestine is not strong enough to have their own fiat money I guess they won't have any problem with accepting bitcoin as their currency, regardless of that, many people in Palestine surely have problem with their governments and war and they will start the migration to other nations and bitcoin can help them as currency to be used in other countries for their people in this case.

Asiska02

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Quote from: Majestic-milf on September 29, 2022, 10:52:09 PM

Can Bitcoin be allowed to grant the financial freedom for Palestine that which El Salvador and Central African Republic are experiencing?

This is dependent on how the Palestinian government feels about bitcoin and the level of financial freedom it will bring to the nation after acceptance. The top nations in the globe that will ultimately have a big impact on the adoption of bitcoin are neither El Salvador or the Central African Republic. But because they are aware of the positive effects it could have on their country's economy and are prepared to deal with the consequences, their governments utilise the use.

They took a risk because what would life be without it? I'm confident that other nations, including those with higher economic growth rates than their own, will imitate them once they start to see the benefits of the bold move they’ve taken. I think everyone is waiting to see how those two nations fare before acting themselves. If Palestine can grasp the financial freedom offered by bitcoin without being self-centered, they can take the bold step that few others have.

_BlackStar

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Quote from: blue_hurricanger on October 03, 2022, 05:05:28 AM

Yup, it can be a form of protest in case you want to undermine the central government's powers. That you don't want to recognize their legitimacy as a government representing you or your people, by not using whatever local currency the government issued. This opens up the chance for Bitcoin to be an alternative currency among that group of people, Palestine, Afghanistan,... you name it.

No, bitcoin does not act as a ticking time bomb for centralized financial system because in my opinion bitcoin is an alternative currency which is not 100% adopted by every individual even if your country legalizes it as a means of payment. Obviously that doesn't necessarily bring down the fiat system because there are a lot of people in this world who don't like highly volatile currency like bitcoin.

Quote from: blue_hurricanger on October 03, 2022, 05:05:28 AM

Quote from: _BlackStar on October 02, 2022, 07:14:24 PM

But of course some people think bitcoin can help terrorists to get paid and carry out illegal transactions, but that is not the main idea for every adoption.

Again, Bitcoin is like a tool. It wasn't its fault for the criminals to take advantage of it. To some freedom fighters out there that fight against the dictator or oppressive government, no doubt if Bitcoin were introduced, they would label it as illegal transactions for funding terrorists right away. It ain't our position to say whatever the cause of those freedom fighters was right or not. History is written by the victors. Heck, a few decades more, things might be completely different from how we saw them right now.

In the sentence you cut, I think everything is clear. But let me repeat it one more time.

Like fiat, bitcoin is a currency which can be abused.

blue_hurricanger

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Quote from: _BlackStar on October 02, 2022, 07:14:24 PM

Not only do I think bitcoin is suitable for Palestine, but it seems suitable for all other countries everywhere when people want to have bank in their own hands without a central authority.

Yup, it can be a form of protest in case you want to undermine the central government's powers. That you don't want to recognize their legitimacy as a government representing you or your people, by not using whatever local currency the government issued. This opens up the chance for Bitcoin to be an alternative currency among that group of people, Palestine, Afghanistan,... you name it. Gold can be used too but because of how physical and weight they're, it'll be a hassle to use in daily life and easy to be banned by the government with metal detector or xray screening.

Quote from: _BlackStar on October 02, 2022, 07:14:24 PM

But of course some people think bitcoin can help terrorists to get paid and carry out illegal transactions, but that is not the main idea for every adoption.

Again, Bitcoin is like a tool. It wasn't its fault for the criminals to take advantage of it. To some freedom fighters out there that fight against the dictator or oppressive government, no doubt if Bitcoin were introduced, they would label it as illegal transactions for funding terrorists right away. It ain't our position to say whatever the cause of those freedom fighters was right or not. History is written by the victors. Heck, a few decades more, things might be completely different from how we saw them right now.

_BlackStar

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Whether for businesses or individuals, the concept adopted by bitcoin is of course very efficient to adopt. Not only do I think bitcoin is suitable for Palestine, but it seems suitable for all other countries everywhere when people want to have bank in their own hands without a central authority. You don't need a strict escort from any security forces to trade something in large quantities ^{[more millions dollars],} you can handle it even you can do it anywhere and anytime as long as you are connected to the internet.

The innovative concept of bitcoin as a means of payment can certainly help any country to get various benefits, El Salvador saves remittances from their financial transactions and the Palestinians can think the same if many residents work outside. But of course some people think bitcoin can help terrorists to get paid and carry out illegal transactions, but that is not the main idea for every adoption. Like fiat, bitcoin is a currency which can be abused.

CryptoHeadlineNews

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Quote from: Majestic-milf on September 29, 2022, 10:52:09 PM

Can Bitcoin be allowed to grant the financial freedom for Palestine that which El Salvador and Central African Republic are experiencing?
https://bitcoinmagazine.com/culture/examining-bitcoins-role-in-palestine

By saying this, that means it seems you have forgotten about the true journey of Bitcoin, because we all know Bitcoin is a free digital currency that can be access by anyone anywhere around the world with just an internet connection, and Bitcoin is not a Demi-god who grants financial freedoom to any country by what O.P just said above, because this Bitcoin see today took it 13years to attain from $0 to that value it is today, of which you can't make it a legal tender today, and expect to be financially free tomorrow, which i think thats what El Salvador and the Central African Republic had in mind when making bitcoin a legal tender to liberate its citizens from poverty. Forgetting that bitcoin is a digital currency whose value grows with time, and Palestine is no difference if it's people are ready and willing to accept Bitcoin as a legal tender

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Well, Bitcoin as a technology cannot solve all Palestine's problem, but it can bring Palestine into the global trend that are changing to a more autonomous currency. Bitcoin was supposed to be an alternative currency, but most people see it as a commodity and the governments of the world are happy to define it as a commodity and not as a competing currency. Roll Eyes

Bitcoin has also served as a method to bypass restrictions and sanctions that were placed on countries, because it is border-less and unstoppable by centralized authorities. Wink

kryptqnick

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I checked that Internet penetration is quite high in Palestine, which IMO is very important to ensure the climate in which Bitcoin can be adopted, since people are highly unlikely to use it if they don't use the Internet. I also googled whether Palestine has its own fiat currency, and it seems that it doesn't: instead, currencies of neighboring countries are used. Having something that would unite them financially thus makes sense, and Bitcoin could potentially be that thing. Moreover, I agree with the responses to criticism of the possibility of Bitcoin being Palestine's currency of freedom from the article (aside from the claim about volatility going both ways because, while true, it's important to admit that volatility on the level Bitcoin has it is a big obstacle for adopting Bitcoin specifically as money). But all this doesn't matter that Palestine will adopt Bitcoin, and perhaps with the level of instability they have policitically and economically, the last thing they'd want is an unstable currency.

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Quote from: Poker Player on September 29, 2022, 11:18:05 PM

You say El Salvador and the Central African Republic are experiencing financial freedom? LOL. El Salvador remains about as poor as it was and Bitcoin adoption has been rather low despite government promotion

I think financial freedom means we are now free to use our money and it doesn't mean that we will now be rich once we embrace bitcoin with us although it is possible due to its characteristics. For now maybe the adoption is low but I believe time will come that people will know the importance of bitcoin. Many people are soon going to embrace it.

Quote from: tbct_mt2 on September 29, 2022, 10:56:03 PM

Bitcoin is for everyone and everywhere. Just need to have Internet connection, a non custodial wallet (should have it, rather than custodial wallet), you can use Bitcoin.

Can use means you can receive and send it to others. Next, get accepted as a payment method locally is different; get legal tender is more different. If you use Bitcoin for illegal things, you will not have or have less issue with government even Bitcoin is not legal tender in your country.

If we want to attain a total freedom then we must use a wallet which we own our keys or seed phrases. I think btc to become a legal tender is only optional because many countries or people are now using a btc despite btc on their place is not yet a legal tender and still they can be able to use it on almost anything. Shops which accepts a btc are still popping out.

vv181

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Here I see that Bitcoin is perceived as a magic pixie dust that treated and solve the world's problem. Kind of the same as many people incorporating blockchain to solve many issues while in fact, it doesn't need blockchain, after all.

It is a matter of urgency whether in some countries the people would willingly use it or not. People will prioritize firstly the urgent things in front of their lives, wherein security might be one of them. To be able to use bitcoin as currencies of freedom, there is an unrelated precondition that must be fulfilled before people utilized bitcoin in its utmost aspect.

Gallar

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I don't think it's that easy and it's not like you said,

because in my view, Palestine today needs more FIAT and food,
because they don't have time to take care of wallets or crypto,
even to start investing in crypto or using crypto/bitcoin as a means of payment,
they need an account card to top up their wallet balance,

while now they only focus on surviving, working and finding ways to overcome all problems,

but if they adopt bitcoin at this time,
I don't think the time is right
from an economic point of view, the situation and society are not yet stable,

because in my opinion if you want to adopt bitcoin you need a stable economy.

Raflesia

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Actually bitcoin can be anywhere but when you look at the tensions that are happening in Palestine right now, of course bitcoin still doesn't have much effect.
Right now in Palestine it doesn't matter how much money you have in your wallet and even if you have bitcoins it doesn't matter how many bitcoins you have in your portfolio it won't matter because there are only weapons that are still needed.
their current conflict is not a conflict that can be resolved with words but with weapons and we all know that.

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Quote from: pooya87 on September 30, 2022, 12:35:38 AM

You can not liberate your home with money, you'd need weapons.
When the planes come and drop bombs on your head, it doesn't matter if you are using bitcoin or another currency, you'll blow up just the same. Which is why freedom is only gained through armed defense just like in Ukraine.
You can't send Ukrainians bitcoin and ask them to fight the invades with money or blow up their tanks with bitcoin!!! They'll need missiles, guns, etc to fight the invaders.

In some cases Bitcoin can help with that. I was listening a podcast of a Ukrainian volunteer foundation that officially and semi-officially buys weapons and equipment for the war, and they do use crypto for some of their contracts, and they say sometimes it allows them to fulfill contracts faster than with using fiat, because they bypass certain bureaucratic procedures.

In the future we might see resistance group relying on crypto for crowdfunding their effort and purchasing equipment as their main financial tool. Or at least it would play a big role.

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El Salvador made bitcoin the official currency and I'm guessing they're regretting it now. Yes, bitcoin offers you a lot of freedom and space. But unfortunately, it can make your economy weaker with its variable price.

Why people is embracing bitcoin is that it has freedom, during it's investment you monitor it's value without any one monitoring the value for you, i think that in the next twenty years coming bitcoin will be massively being adopted, i don't really understand you by saying bitcoin will make economic status of someone or country wesk. I think that aspect of theory is not really accepted, because the necessity of investing in Bitcoin is to make the economy to be valuable.

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Quote from: Majestic-milf on September 29, 2022, 10:52:09 PM

Hadas Thier, a writer and activist sums cryptocurrencies as volatile and capable of being used to bolster criminal activities, hence her adamant belief against it's power..
Other countries which have adopted the currency as a legal tender seem to prove otherwise.
Can Bitcoin be allowed to grant the financial freedom for Palestine that which El Salvador and Central African Republic are experiencing?

Bitcoin for all countries, not limited to any country even though it is prohibited. I don't know if Palestine will file for the legality of bitcoin as a legal tender, but it will be good for the financial freedom of its citizens.

Regarding the case of its use as currency, it has become a consequence to be misused by certain interested parties. Bitcoin does not support crime, but criminals can use bitcoin to carry out their illicit business. It can happen to other currencies, even fiat.

rendravolt

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It should be applicable to the Palestinian state, but the country is in a period of endless war conflict. I am sorry for what is happening in Palestine, I hope that everything will pass quickly and we can rebuild what should be there. If that is all done, then the adoption of bitcoin as one of the Palestinian state currencies can be achieved.

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Quote from: Baofeng on September 30, 2022, 05:24:07 AM

I don't think we need to compare it to El Salvador and other countries that have embrace bitcoin and crypto as a whole. It really depends on how the country is going to used it, and if they it can be their currency of freedom then so be it. And it will really take years before some nation will adopt it as legal tender or alternative to their local currencies, and so it will be a big challenge and there are going to be obstacles along the way for Palestine, not be easy and so only in the future that we will know if they adapt this idea of bitcoin being 'currency of freedom' or not.

I agree, El Salvador is a nation that is having some financial difficulties but they do not have 50%+ of the population being kids because all the bigger ones are dead. I am not going to go into details of Israel and Palestine war, that’s something politicians do and not something we can discuss here and solve, that’s impossible.

But, it is easy to at least say that people in Palestine do not live an easy life, and while they are missing water or food to survive, it would be childish to assume that they could use a mobile phone in order to deal with bitcoin, it wouldn't be possible at all. So, it’s easier to assume they can't really use it for freedom.

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