Running all over the Web looking for interesting Crypto information, and found this stuff on how poor unbanked Africans are using Bitcoin Cash, on a “craigslist” like platform that is run under the Bitcoin banner to trade or buy Crypto. But more importantly you can trade or buy actual stuff with Bitcoin Cash. You can buy used cars, backhoe diggers, old typewriters, records, etc. There is no KYC, or an ID verification process, or geoblocking which often forces users from certain regions to use VPNs
The platform is much larger than their area, as it is world-wide in scope. and you can look for products that are being sold in your locality. you can buy and sell with total confidence since every trade is protected by a fully encrypted blind escrow. You are trading on a fully private platform, and they never ask you to share personal details with them. It still is in the early stages, so might require a few tweaks, but quite interesting.
I’ve signed up and will start to use it, and I will keep you updated to how well it works. if you want to sign up, please use my link if you don’t mind. you know the routine, thanks
If you know of any other platform that is being setup to sell or trade “actual used physical stuff” other than retail store fronts that require KYC at the back end, let me know, as we are all on this journey together
I also found another article on an African gentleman that bought actual real Land using bitcoin cash, sounds like it was a bit of a struggle, but he did do it.
On a side note, here is a interesting visualization of the loss in the purchasing power of the US dollar over time. What is Purchasing Power? The purchasing power of a currency is the amount of goods and services that can be bought with one unit of the currency. For example, one U.S. dollar could buy 10 bottles of beer in 1933. Today, it’s the cost of a small McDonald’s coffee. In other words, the purchasing power of the dollar—its value in terms of what it can buy—has decreased over time as price levels have risen. Money supply (M2) in the U.S. has skyrocketed over the last two decades, up from $4.6 trillion in 2000 to $19.5 trillion in 2021.
The effects of the rise in money supply were amplified by the financial crisis of 2008 and more recently by the COVID-19 pandemic. In fact, around 20% of all U.S. dollars in the money supply. Wow, have we been taken to the cleaners!