Worsening Lebanese Crisis May Spark Bitcoin Adoption - page 2.

target

legendary

Activity: 2282

Merit: 1041

Quote from: johnwest on December 28, 2019, 09:34:52 AM

I dont know whether to be happy about the countries which get into these type of situations or be sad to see the common man's suffering. Venezuela is a different case as they claim they have the oil to back the cryptocurrency. Lebanese groups may try and bring money into the country and try to work something out.

Not that we are celebrating, we were just discussing how they may be able to get around. The banks in the country are limiting access to USD, what choices do they ave right now. People in the country will find ways and that's something to work out, if BTC works in Venezuela I don't see it not working anywhere else like Lebanon. Raising taxes and political crisis are just ingredients of economic crisis it affects daily lives of the people.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Yep. Just like Cyprus, Greece, Argentina and Venezuela.

Just like those places I'd say at least 50-55 people in Lebanon will buy some BTC.

Hang on to your motherfukkin hats.

posi

hero member

Activity: 2268

Merit: 579

Vave.com - Crypto Casino

Quote from: Lucius on December 28, 2019, 10:04:25 AM

One more shitposting/promoting article from cheezcarls which merely repeats the already told story conveyed by all the portals related to crypto, the question is just who came first and who just recycled the story.

Quote from: cheezcarls on December 28, 2019, 06:51:26 AM

What do you think about this latest situation in Lebanon? Do you honestly think that Bitcoin would really save them from their ongoing crisis?

Same I think 2 months ago, Bitcoin is not the magic savior of no country or economy. Especially not a country where it's almost impossible to legally buy BTC since most exchanges put Lebanon on the blacklist due to possible Hezbollah involvement in financing with crypto. Therefore, articles like this do nothing but fill in the blanks and engage people with things that have no relevance to Bitcoin as a whole.

What about the situation in Irak, Iran, Chile, Hong-Kong, Haiti, Bolivia (Primavera Latinoamericana), will Bitcoin save all of them?

Definitely not but bitcoin will save people that are into it for it was implemented as an alternative to make people financial freedom. With that been said, Hezbollah accusation involvement of Lebanon was not the only reason they are blacklist from most exchange site because they also have the issues of OECD which was predicted could lead to then been blacklist either.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

One more shitposting/promoting article from cheezcarls which merely repeats the already told story conveyed by all the portals related to crypto, the question is just who came first and who just recycled the story.

Quote from: cheezcarls on December 28, 2019, 06:51:26 AM

What do you think about this latest situation in Lebanon? Do you honestly think that Bitcoin would really save them from their ongoing crisis?

Same I think 2 months ago, Bitcoin is not the magic savior of no country or economy. Especially not a country where it's almost impossible to legally buy BTC since most exchanges put Lebanon on the blacklist due to possible Hezbollah involvement in financing with crypto. Therefore, articles like this do nothing but fill in the blanks and engage people with things that have no relevance to Bitcoin as a whole.

What about the situation in Irak, Iran, Chile, Hong-Kong, Haiti, Bolivia (Primavera Latinoamericana), will Bitcoin save all of them?

johnwest

hero member

Activity: 1106

Merit: 503

BabelFish - FISH Token Sale at Sovryn

I dont know whether to be happy about the countries which get into these type of situations or be sad to see the common man's suffering. Venezuela is a different case as they claim they have the oil to back the cryptocurrency. Lebanese groups may try and bring money into the country and try to work something out.

ChrisPop

legendary

Activity: 2310

Merit: 1035

Not your Keys, Not your Bitcoins

If Bitcoin has become so popular in Venezuela I don't see why wouldn't be a viable solution for Lebanon as well. Eventually the whole world will realise that fiat currencies damage the economies by their design. Developing and growing economies on enormous debt like the US does is not a healthy nor a sustainable way.

I do think that countries should have their own currency as well until we don't become an utopia, but there is a need for a worldwide reference, mainstream decentralized currency like BTC.

Thekool1s

legendary

Activity: 1512

Merit: 1218

Change is in your hands

@cheezcarls I don't think its that easy TBH.

Quote from: beincrypto

With many people facing a choice between starvation and suicide

Given that's the ground situation. A cryptocurrency will be the last thing on their minds. Lebanon also lacks the basic infrastructure to support this "Crypto Revolution" that you are suggesting. Given that you require a passport^[1] just for getting a "SIM card".

Quote from: FandomWiki

A passport is required to purchase a SIM card in one of the shops of the operators. You may be called by the operator to verify your identity.

Not All People have passports, there is a special fee^[2] these people have to pay to get a passport. The Data Rates are also on the higher side and given that the Country is facing an economic crisis, the last thing people will be spending their money on will be buying "Data" to use a Cryptocurrency which they may not even understand the basics of. So yeah I don't think this "economic-crisis" will trigger a "Bitcoin adoption" revolution of any sort.

Quote from: Wikipedia

It is one of the most expensive passports, at 60,000 LBP (40 USD) for 1 year, or 300,000 LBP (200 USD) for 5 years, or 500,000 LBP (333.33 US$) for 10 years. Same price applies for renewal.

Source:
[1] https://prepaid-data-sim-card.fandom.com/wiki/Lebanon
[2] https://en.wikipedia.org/wiki/Lebanese_passport

pakhitheboss

hero member

Activity: 2156

Merit: 803

Top Crypto Casino

Quote from: cheezcarls on December 28, 2019, 06:51:26 AM

The middle eastern nation of Lebanon has been suffering its worst civil and economic crisis since its civil war in the mid-1970s. With no end in sight, the desperate yet resourceful population may start to explore Bitcoin as a weapon against the corrupt political and banking system.

BeInCrypto first reported on the civil unrest in Lebanon in October. Demonstrators took to the streets to voice their objections to a planned tax hike on tobacco, fuel, and telecom tariffs. As is often the case, this quickly morphed into a general movement against political and financial corruption.

Source link here

Just like Venezuela, it looks like Lebanon might be the next to start adopting Bitcoin and other cryptocurrencies.

Despite that Venezuela is on a crisis, they already made their move in using Bitcoin for various cases. Now that Lebanon is facing crisis and may worse in months to come, it’s time for them to accept and embrace Bitcoin with open arms.

What do you think about this latest situation in Lebanon? Do you honestly think that Bitcoin would really save them from their ongoing crisis?

Bitcoin should not be treated as a last resort to come out of economic crisis.

Like Venezuela I do not think such situation will change anything for those who are suffering, only the rich will be able to utilise the benefits of cryptocurrency and Bitcoin.

Tipstar

sr. member

Activity: 1932

Merit: 300

Vave.com - Crypto Casino

The situation between Venezuela and Lebanon are different. Venezuela crisis is originated from outside in the matter of trade and currency. By using crypto, they are avoiding IMF. While for Lebanon, it are stupid people who want change but no one wants to take the lead. Nothing can save them if they don't get a good leader within themselves.

samuraijin

sr. member

Activity: 1834

Merit: 261

20BET - Premium Casino & Sportsbook

this must be supported when many countries experience crises like this so they get a way to solve this problem with crypto or bitcoin, I expect a lot of adoption in many countries it's just that we need to wait for many countries to go bankrupt and the crisis to get more adoptions for using crypto or bitcoin, this may seem evil but may actually be good for everyone

cheezcarls

hero member

Activity: 2282

Merit: 659

Looking for gigs

The middle eastern nation of Lebanon has been suffering its worst civil and economic crisis since its civil war in the mid-1970s. With no end in sight, the desperate yet resourceful population may start to explore Bitcoin as a weapon against the corrupt political and banking system.

BeInCrypto first reported on the civil unrest in Lebanon in October. Demonstrators took to the streets to voice their objections to a planned tax hike on tobacco, fuel, and telecom tariffs. As is often the case, this quickly morphed into a general movement against political and financial corruption.

Source link here

Just like Venezuela, it looks like Lebanon might be the next to start adopting Bitcoin and other cryptocurrencies.

Despite that Venezuela is on a crisis, they already made their move in using Bitcoin for various cases. Now that Lebanon is facing crisis and may worse in months to come, it’s time for them to accept and embrace Bitcoin with open arms.

What do you think about this latest situation in Lebanon? Do you honestly think that Bitcoin would really save them from their ongoing crisis?

Topic: Worsening Lebanese Crisis May Spark Bitcoin Adoption - page 2. (Read 336 times)