Discussion about this post

User's avatar
Prism's avatar

Professor, I am Nigerian. While not a believer in Crypto's more esoteric predictions, I find it considerably superior, as a means of exchange, to the Fiat system imposed by the Nigerian government.

It offers me fair value for my foreign earnings (😔, not from 'that') while being (so far) invulnerable at attempts to impose currency controls.

I am empathetic enough to see your points, but, to be honest, you sound like a Spanish grandee fulminating against those English pirates would have in the 15th-century. Or a GOPer going red in the face at the Xi-Xi-Pee today (not 'China', obviously).

Yes, it is unfair. Yes, it threatens the current system. But as with all systemic revolutions, it is the losers in the current system and a few mavericks from the old who will best profit.

If my State can't stop me trading crypto, I am not about to be deterred by the idea that it consumes electricity, is linked to unsavoury types and threatens the Ancien Regime.

The first does not bother me, not like in the absence of crypto Nigeria would see better electricity. The second applies to my Fiat (and your dollar/Pound and Swiss Francs). Finally, the current system from my country (and the Western order that ultimately underpins it) threaten me with poverty. I've got to look to number one (me!). If that means being a crypto privateer then so be it.

Who; Whom, 🤷🏾‍♂️.

Expand full comment
rupert newton's avatar

That was really great/useful/clarifying, thank you!

Expand full comment
16 more comments...

No posts