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Hey guys, I wanted to share something many of you living in a 1st tire world countries might not relate to. I live in Egypt … a beautiful very old place .. with inflation rate constantly between 7% -20% for the past 40 years, and some times 35% like last year. The value of our fiat currency which is called the Egyptian pound compared to the US dollar is as follows .. 3.8 EGP/USD in 2001 , 8.8 EGP/USD in 2016 , 17.9 EGP/USD today. Saving money for future in our fiat currency have worked very very badly as you can tell, top 1% of our society control around 48% of the wealth, and those doesn't own fiat, they own land, gold, factories and other assets .. leaving us with the worthless fiat paper. Freeing the exchange rate for our currency in November/2016 wiped out half the value of the fiat holdings for all the Egyptians.
And here comes the moral of this little story, Letting the money valuation in the hand of some old stupid corrupt individuals in the government who wasted our hard earned money through their stupid selfish decisions is not right and can never work in the favor of the people, I as another 100 million Egyptians have seen and felt it. This story is very common if you looked closely to other countries like Greek, Turkey, Bolivia, Iraq, Argentina and many countless African nations.
I believe in Bitcoin because i trust Math and logic more than i trust my government corrupted officials. I believe in Bitcoin because i am okay with it going up or down, when knowing with my fiat there's only one way the DOWN way.
Have a nice day you all, and as always HODL 🙂