How could these two billion people not love Bitcoin? The currency tragedy of India, Brazil, Argentina and other countries

This year is a difficult one, but we still have to be happy that we live in a stable economy.
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There was a very big incident in India some time ago, and fewer people concerned in the country, although a few media have used the “mini Lehman incident” to describe it.

In simple terms: India’s fourth largest bank is thunderous. Don’t talk about the antecedents and consequences, if you are interested, you can go to Google, or just look at this Weibo.
However, after all, it is the fourth largest bank, and how many people have lost their hard-earned money. But no one has to take the order, and finally the country has to come forward.
“In the end, the Central Bank of India took over the troubled Yes Bank. However, the Bank of India, while formulating a rescue plan, also imposed strict restrictions on the bank’s business. These restrictions include: the upper limit for users to withdraw funds from Yes Bank is 5. 10,000 rupees; the bank must not issue new loans to protect the financial system from its effects. “
Yes, although the country takes over, everyone can only take 50,000 rupees, or 5000 yuan. For this little money, I do n’t know what concept it is in India. It is really pitiful in China.
The scary thing is that this is just the beginning. When we saw a black swan, we might be followed by a group of black swan, which is the most terrible.
According to reports, YES Bank has been able to withdraw funds, and India still rescued this bank.
In fact, for emerging economies like India, it is easy for banks to go wrong. In fact, it is not a problem of the emerging economies, as the Lehman Brothers also failed. In an emergency and rapid downturn, your loan customers can’t think they will cool so fast.
Especially this year, affected by the epidemic, it is estimated that the bad debts of banks will soar.
The problem is great and panic is useless.
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Although sympathetic to the people of India, after all, as long as there is such a financial thunder, the ordinary people will always be miserable. However, in the current capital market and the current financial system, it is too common for this kind of thing to happen during the rapid economic development of the new economy.
We have seen the same script in India, and we have also seen similarities in many other economies, which may be the fate of emerging economies.
In fact, India ’s currency situation has also been quite stable in recent years-stable depreciation.
Logically speaking, if Bitcoin remains unchanged against the US dollar, Indians who hold Bitcoin can avoid the threat of depreciation over the years, not to mention that Bitcoin has increased so many times in the past decade.
In theory, the odds of Indians holding Bitcoin are very high, because even if BTC / USD does not rise or fall, BTC / INR (Rupee) is constantly rising because their exchange rate is constantly depreciating.
And the devaluation will be more severe in the next few years. Because of the serious backflow of the US dollar, Americans have used the “Star Absorption Law.” Almost all economies’ exchange rates against the US dollar should fall.
Indian people are not easy, I hope they can hold some bitcoin. This year is half a year for Bitcoin. Speaking of this, the Indians have a bit of a connection with Bitcoin halving.
If you still remember, the last time Bitcoin was halved, in 2016, India also experienced a major fiat event, the famous “Modi Banknote Scrap Event.”
Ordinary people in India are really miserable. They can’t save money in banks, nor can they hold paper money in their hands.
What else? It is recommended that they consider considering bitcoin.
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If after reading my previous description, you feel that India is indeed miserable, but there is only a potential crisis, then my next example will tell you what a real currency crisis is.
What do you think I want to say Venezuela, Serbia, Zimbabwe? No, these countries are too far away from everyone, as if they only exist in the story.
The next thing to talk about is the neighbor of Argentina, this country known as “the first country to go bankrupt due to an epidemic”-a country that has actually been credit-broken many times-Brazil
By the way, Argentina’s recent bitcoin transaction volume has also soared, but after all, it has been talked about too many times, and I will not talk about it today:
Is everyone familiar with Brazil? This largest country in South America has the fifth largest land area in the world, with a total population of more than 200 million, and is “expensive” as one of the five BRIC countries.
Can’t you say that Brazil is a small country?
What about Brazil’s currency performance? This is the trend of the dollar against the Brazilian currency this year:
In fact, it’s okay, that is, 4 yuan has risen to almost 6 yuan, and it has depreciated less than 50% in less than half a year. Can it be? (Ha ha)
I will not let go of any performance before this year, anyway, it looks like the trend of altcoins for a long time, just keep falling.
If you think it is “just” such a decline, then I still want to tell you, far more than that.
The currency history of Brazil is the history of sending junk coins every once in a while.
Depreciate one thousand times and one thousand times, exchange for new currencies, and continue to depreciate.
It’s too awful.
In fact, Russia has done the same. The new ruble is also changed a thousand times. I talked about it in the previous currency article, so I won’t go into more details here.
One point I often say is this. Most of the current participants in the Bitcoin market are Chinese and Americans, followed by Japanese and Europeans. These economies are the best in the world and the most stable currency. This has led people to look at Bitcoin’s currency concept and possible great achievements are only “fantasy”, because we have not experienced the devaluation of the fiat currency many times a night, and we do not realize how many people Bitcoin can save.
Of course, gold is fine in this matter, and so is the dollar. But we think that for an ordinary person, the difficulty of obtaining bitcoin may be the lowest. You only need to log in to the website to transfer money.
Let me put it this way, you now need to exchange $ 10,000 in equivalent assets. Is it easy to buy gold in your hand, or is it easy to exchange dollars to your hand, or is it easy to buy bitcoin in your wallet?
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The Indians may not be able to withdraw the money from the bank overnight, and the money in their hands becomes waste paper; the Brazilians are stable and enjoying the currency gradually returning to zero; the Argentines are quite happy, despite their credit currency Foundation-”Credit” is going bankrupt.
None of them is a small country, and their population will add up to 2 billion, one third of the world.
When I saw this article before, I believe that not many people really feel the same:“Bitcoin is the devil? It saved my family ”

This article is a confession of ordinary Venezuelan people. Because they have bitcoin, their whole family can eat it (sell a bitcoin every day for local fiat currency to buy and eat).
Of course, we can hardly feel this extreme situation.
Therefore, many people can justly and abruptly say “Bitcoin fluctuates so much that it cannot be used as a currency or as an asset store.” Because these people simply do not know that there are many other people in this world besides China and the United States.
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Finally, summarize. Although we are very reluctant to see it, we will soon see that many “emerging economies” in the world will feel the Indian-style “currency panic”. The collapse of China led to the destruction of normal life, but we ca n’t stop them from rushing when the economy is good when they suffer some consequences when the economic environment turns sharp.
Bridgewater founder Dario also predicted that the old currency system is about to collapse, and the new currency system is about to be born:
The so-called system change, the replacement of the new system with the old system, must be the transfer of countless people’s property, which leads to the already huge and infinitely widening gap between rich and poor:
Still the same sentence, “A dust of the age, falling on a person’s head, is a mountain.”
We can only hope that when the disaster of impunity really hits these ordinary people, not only Venezuela, Zimbabwe and other economies, but also in the future, such as Iran, India, Turkey and other economies, “Bitcoin saves the family” The story can happen again.
Hope bitcoin really becomes an umbrella for unfortunate people.