I think bitcoin is a real temptation for poor countries because even a fraction of bitcoin represents a big amount of money for them. I'm from México and for me, 1 bitcoin represents $200,000 pesos. so, with 2 bitcoins i can even buy a house here. Or pay cheap rent of $120 dollars for a nice house with a garden. What we can do in the first world with 1 bitcoin isn't much but in the third world we can have a nice life with that amount.
In Venezuela the monthly wage is about 2 USD. With what an American may spend for a pizza, you can probably feed a family a whole month here. Granted, they won't be eating pizza, mostly grain and the occasional sausage if lucky; but still, its a tremendous difference.
However you are looking at it wrongly. Bitcoin is good because of several reasons, that particular one not being one. 1 bitcoin does not exist, what exists, is, really, 100 million satoshis. The code does not distinguish the bitcoin unit, only the satoshi, the rest is fiction.
You might as well say 100 million satoshis. So, with 200 million satoshis you could buy a house there. It is really the same thing, but mostly psychological i guess.
But no, what matters is that bitcoin is not going to lose its value over time, unlike fiat, which is under the yoke of inflation, induced or not. One of the dogmas of the school of Chicago is, to never let money keep its value, or people will stop spending and/or getting in debt, and they are very very scared of this, because their flawed model doesn't work otherwise, and they never bothered to study the Austrian school of economy that rips them apart.
Sadly the whole world thinks only the Chicago school is true, even the misled leftists which antagonize it with the much worse State should replace the people mindset (free market vs central planned economy).
Mexican economy is going down, but you have flee into Bitcoin, before your fiat drags you faster than you will have time to react. Keeping pesos is dangerous, while keeping bitcoin is not. Heck, even keeping US dollars is dangerous, Trump thinks he is invincible, and that the USD can be printed ad infinitum, but one day it will blow up and dwarf the housing crisis or covid-19...
And yes, your gov will probably "invent" the new peso, say a million of the current one s 1 new peso (haven't you had those before?) but this is fiction. We have had 2 of those in the last decade, it often happens to hyperinflation economies. And, we are used to express menial things in millions anyway. We have a very bad joke here, we are "
millionaires" (when a
million can only buy you some milk or bread at most). Min wage is actually just 400000 VES, but it'l get into the millions soon, like it did in 2018 with the VEF.
Its an illusion, and that particular thing (zeroes, either left or right) doesn't make something "better" (it doesn't).
Giving its closeness its far easier to express bitcoin price in satoshis in our local currency. According to Localbitcoins, the exchange is about 18~19 VES per satoshi. See? Simple. Get used to it...
