The sad Lebanese experience and the hope in Bitcoin

From the Northern hemisphere of the world, sunk in our comfortable sofas in our nice homes that are warmer in winter than in summer, cooler in summer than in winter, perhaps in the tranquility and safety of the city’s restricted traffic zones, when we discuss cryptocurrencies we tend to forget that there are realities that are a little different from ours.

Lebanon, once the Switzerland of the Middle East, is now among the countries that do not need to open a history book to understand the dramatic inflation of the Weimar Republic. The Lebanese have it in the supermarket. Everyday.

Hope in Bitcoin

An interesting article that appeared in Forbes last week outlines how the use of Bitcoin, a deflationary cryptocurrency, is helping the Lebanese defend themselves from a devaluation of the national currency which in just a few years has eroded well over 90% of purchasing power and of savings.

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The related Generative Artificial Intelligence question is posted in the dedicated gallery: Is Bitcoin’s 21 million maximum supply immutable?