Lebanon's Financial Crisis & Bitcoin (Part 2): Bitcoin's Volatility As Stability
“While there is a reasonable use case for Bitcoin in the US, I would argue its a “nice to have versus a lot of other parts of the world like Lebanon where owning Bitcoin is almost like an act of survival to preserve your savings.” - Mark Saroufim
In this two-part series, Dave Hollerith interviews members of Lebanon's diaspora migrant population to understand the country's current financial crisis and why Bitcoin is both an important asset for mitigating its risks as well as how it could play a roll in the country's downturned economy.
In this episode (Part 2), Hollerith talks with a Lebanese Bitcoiner, Mark Saroufim, about how Bitcoin is ultimately fitting into Lebanon's downturned economy.
Topics discussed:
- News information through Twitter, as opposed to political party, owned news companies
- Lebanon's The Whatsapp tax
- How inflation and unemployment are starting to change spending habits.
- Government-issued “haircuts”
- Consequences of the lira's devaluation: more crime and scams
- Why Mark's Grandma understands Bitcoin
- How a rogue Discord community wants to send Bitcoin to Lebanese friends and family
Resources:
- Why do the Lebanese People Suddenly Care About Bitcoin?
- Some See Bitcoin As A Haven in Crisis Hit Lebanon
Twitter:
- Mark Saroufim (@formalsystem)
- Dave Hollerith on Twitter
- Bitcoin Magazine on Twitter
Sponsors:
* Lebanese metal anthem courtesy of Youtuber and musician, LordPatrick123456
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