I agree with femi cause i am also Nigerian and also spreading the knowledge of Bitcoin. The reason we buy Bitcoin today is because the global financial system runs on a Fiat unit of account. Every transaction is widely settled in Fiat, and we earn in Fiat. But this won't happen forever, as adoption increases we will work and earn in the dominant money overtime. The reason I encourage people to start thinking in Bitcoin terms But Bitcoin is still less than 5% of the world cash balance so it serves more as a store of value cause you can hardly find someone who you can trade it for who has it in cash balance Gresham law states that when 2 or more monies are in circulation, bad money will drive good money into hiding. But adoption of a free market money comes is phases. Collectibles, store of value, medium of exchange and unit of account. Yes currencies are what we use to purchase things, but currency is not money. Fiat currencies being protected by legal tender laws made it look that way. Money is what we use to exchange our time and value and store the value. Currency is 1½ of that transaction. Finally "Thiers' law" states that good money drives out bad money whenever the bad money becomes nearly worthless.
Fresh and much needed perspective! Kudos to the work Femi is doing. 🙌
I agree with femi cause i am also Nigerian and also spreading the knowledge of Bitcoin.
The reason we buy Bitcoin today is because the global financial system runs on a Fiat unit of account. Every transaction is widely settled in Fiat, and we earn in Fiat. But this won't happen forever, as adoption increases we will work and earn in the dominant money overtime. The reason I encourage people to start thinking in Bitcoin terms
But Bitcoin is still less than 5% of the world cash balance so it serves more as a store of value cause you can hardly find someone who you can trade it for who has it in cash balance
Gresham law states that when 2 or more monies are in circulation, bad money will drive good money into hiding.
But adoption of a free market money comes is phases.
Collectibles, store of value, medium of exchange and unit of account.
Yes currencies are what we use to purchase things, but currency is not money.
Fiat currencies being protected by legal tender laws made it look that way. Money is what we use to exchange our time and value and store the value. Currency is 1½ of that transaction.
Finally "Thiers' law" states that good money drives out bad money whenever the bad money becomes nearly worthless.
Coolest cult to be in 🔥🔥
If crypto is a cult. Monero is King
😂😂
sorry, this is not a crypto channel.