When a Central Bank Becomes a Ponzi Scheme

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Күн бұрын

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In this video we go over the recent economic troubles in Lebanon and why the World Bank recently called the country a ponzi scheme. They are now facing 50% unemployment, 80% poverty, and hyperinflation.
Check out our new podcast on Spotify: open.spotify.com/show/4UZL13d...
0:00 - 1:58 Intro
1:59 - 3:02 moomoo
3:03 - 3:57 Lebanon's economy
3:58 - 5:13 Syria civil war
5:14 - 5:38 Currency valuation
5:39 - 8:38 Ponzi scheme
8:39 - 10:36 Financial collapse
10:37 - 11:48 Beirut explosion
11:49 - 12:30 Poverty
12:31 - 13:40 Bank robberies
13:41 - 15:32 Central bank governor
15:33 Failed state
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All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please send me an email, wallstreetmillennial.com, and we can sort it out.
#Wallstreetmillennial #lebanon #moomootrading
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Пікірлер: 255

@wallstreetmillennial Жыл бұрын

Limited time: get 6 free stocks when you sign up to moomoo and deposit $100 and 15 free stocks when you deposit $2,000. Use link j.moomoo.com/00iPZo

@ladyluckclubllc Жыл бұрын

Hi @Wall Street Millennial! Can I use your pyramid illustration for a video? It's the only clear illustration on the entire internet. I will be sure to credit you and your channel in the video.

@kenyanroots Жыл бұрын

As an African, This what happens when a society thinks that being corrupt is equals being clever while honesty is viewed as being dumb.

@depreciatingasset Жыл бұрын

Yep that's exactly what happens in Lebanon and they think themselves smart. Bet you saw a few lebanese in your country. They get together with corrupt regimes everywhere

@alabastertheunicorn3204 Жыл бұрын

Well it's an American saying, eventually the chickens come home to roost.

@blasphemynbagels9324 Жыл бұрын

This really shows you how well constructed America is as we are constantly being scammed by our own country yet we support them and do nothing

@depreciatingasset Жыл бұрын

@BlasphemyNBagels is that what you got from this? The US and the west have much better institutions and laws. The principles are different. It's based on most protections with least interference, ie compromise and trade offs, realizing that human nature will always be bad but trying to contain it as much as possible. This is based off 19th century principles of Smith, and others blanking on their names now. Liberal democracy is much better. If anyone is ruining it, it's the new leftie tankie guys claiming to be messiah like bernie and AOC ruining everyone's freedom in the name of protection, ending up with neither. It's the new socialists

@blasphemynbagels9324 Жыл бұрын

@@depreciatingasset yeah but healthcare is expensive, no job security, openly corrupt government officials, and etc. Keep in mind we are the richest first world country our country is merely a front to move money up

@karimelzein9115 Жыл бұрын

The extent of the damage could never be calculated. Imagine expats longing to come home after a lifetime (literally) of work abroad are unable to anymore and must work until they die. Children growing up had to see their family run out of money. Working age people are forced to flee from their land, leaving family, friends and loved ones behind to make ends meet. The extent of the damage can never be comprehended, the effects of which will echo for generations to come, indeed.

@id10t98 Жыл бұрын

Imagine working your whole life in your own country and not being able to retire and having to work until you die, when one illness can bankrupt you as well. That's the USA.

@pauldacus4590 Жыл бұрын

There are vid's on youtube about remote workers living in Lebanon, who make $60-70K/yr in US dollars, who have essentially become multi-millionaires from their income.

@hishamzawil9938 Жыл бұрын

Please do share!

@ElPenetrator21 Жыл бұрын

Multi millionaires in Lebanese pounds maybe

@augustinefaithdefender Жыл бұрын

Yeah you said like everybody could do that 😂 there are people like that all over the world not just lebanon. I am working remote for two companies and one is in europe as well. It is competitive as hell! 😟

@beyrutphl Жыл бұрын

@@hishamzawil9938 what he means is they can buy property in land after converting to pounds in the black market I know people buying buildings

@grenven Жыл бұрын

Maybe they're all professionals in certain jobs like engineer or else

@AndreasFilms Жыл бұрын

I stayed for a few days in Lebanon in 2019 and when back again about a month ago. It's a beautiful country with amazing people. It's a real shame they have to go through this. I hope they get justice in the end, but it seems unlikely.

@Jewzi123 Жыл бұрын

You should read this book its free it explains why Lebanon is a failed state JOURNAL ARTICLE Maronite Hegemony to Maronite Militancy: The Creation and Disintegration of Lebanon Elaine C. Hagopian

@depreciatingasset Жыл бұрын

Castles of sand built by corrupt political and social elite

@johnflatt1288 8 ай бұрын

So much history and culture all the way back to the days of the Neolithic and Bronze Age. The rise of Phoenician metropolises like Tyre and Sidon. Also the legendary birthplace of Europa. Such a shame, it was called Paris of the Middle East in the 70s due to its rich culture, art and writing scene, and libertine attitudes compared to more socially conservative neighboring countries. 😢

@robertsteel3233 Жыл бұрын

How can you rob a bank if you are just getting your rightful funds, you're just making a withdrawal? If the bank are refusing to give people their money, they are the criminals.

@Dwightstjohn-fo8ki Жыл бұрын

you're transposing industrial countries laws and "attitude" onto a country that really doesn't even exist.

@qwaszxerdfcvtyghvb Жыл бұрын

exactly ... i was thinking how a judge can decide that someone is a Criminal if he takes what he owns,it would be an interesting case to follow

@BlackJesus8463 Жыл бұрын

@@qwaszxerdfcvtyghvb By that logic they could've arrested the bank manager but they didn't.

@id10t98 Жыл бұрын

When you own the world you can do as you please. Just look at JP Morgan, Goldman Sachs and others as examples.

@grenven Жыл бұрын

aren't all banks are.....

@burningmetro964 Жыл бұрын

A lot of countries are in the same position. It's just a question of time

@samsonsoturian6013 Жыл бұрын

Most places aren't half as degenerative as Lebanon

@BlackJesus8463 Жыл бұрын

Fractional reserve lending only has to exist long enough for world war 3. lolz

@Wa7edmenalnass Жыл бұрын

Lebanon is ruled by mafias and former civil war criminals.

@paulnyagini Жыл бұрын

Super right

@digit313 Жыл бұрын

Add Pakistan in.

@jasonallen3678 Жыл бұрын

Like the way you explain serious and complicated financial situations straight forward,without being cute for us regular folks,so I'm subscribing

@tektronix475 Жыл бұрын

Same sh*t happened to my country. u guessed it rigth...argentina.

@dedvzer Жыл бұрын

10:48 Ammonium nitrate is predominantly used in fertilizers, not bombs.

@samsonsoturian6013 Жыл бұрын

Not always in the middle east

@BillCarrIpswich Жыл бұрын

He focused on the explosives part to help explain why the accident was so bad.

@wallstreetmillennial Жыл бұрын

you are correct, but interestingly the ammonium nitrate that was left in Lebanon was originally destined for Mozambique where it would be used to make explosives for a mine

@exMuteKid Жыл бұрын

@@wallstreetmillennial I had no idea, So it was explosives grade??? I think that may have been a factor as to why it exploded so easily. Since agricultural ammonium nitrate usually contains impurities like calcium ions which make it much less likely to explode. Ammonium nitrate is at its most unstable state when it is pure and extruded into the correct shape, also, certain byproducts of a rusting cargo vessel stored exposed to acidic rain (which has a very small concentration of nitric/sulphuric acid) may have potentially played a role in the sensitization of the chemical, since metals such as aluminium in an acidic environment in conjunction with ammonium nitrate can make it even more prone to decompose, however, I am not educated enough in organic chemistry to be able to say for sure. BUT The boat was basically acting like a giant confinement vessel which most likely caused the explosion to be much more powerful than it would have otherwise been by allowing pressure to build up during the explosion. This suggests significant negligence on the part of the Lebanon government if they were aware that this was explosives grade material being stored in basically the most unsafe manner possible. So unfortunate that all those people died because of this.

@fredfrederick2246 Жыл бұрын

Ammonium nitrate and fuel oil is the poor man's explosive..the ingredients are essential to a modern society so cannot be eliminated..only tightly controlled..

@ETS186 Жыл бұрын

Lebanese outside of Lebanon are some of the world's best business people. Carlos Ghosn (not a crook, dude saved Nissan and butthurt Japanese dinosaurs did him dirty), Carlos Slim, Nassim Taleb, Tony Fadell, etc. But inside...

@jewlstagara4562 Жыл бұрын

That's true and whole time I thought Carlos Slim was Mexican, I didn't even know he was a Lebanese immigrant until you mentioned it lol

@AaronVanWolfen Жыл бұрын

Please, can you make a video about the Jordanian economy??? I found pretty insane that one of the most scarce countries on earth was able to handle millions of refugees and still maintain a strong currency.

@chris0000924 Жыл бұрын

Free market economy

@NEXTGENCOMEDY4XBOX Жыл бұрын

America and pretty much every country sends them money

@zenastronomy Жыл бұрын

centralised state protected economy

@Deloowix Жыл бұрын

Refugees are cheap labour so why would it cause their currency to worsen?

@samsonsoturian6013 Жыл бұрын

The currency isn't exactly storng, the bulk of the population simply is sustenance earners and always has been. Also the refugees aren't as much a burden as you'd think because the Jordanians simply let them starve.

@georgezaharoff Жыл бұрын

The people of Lebanon I have found to be beautiful and warm. It is such a shame everything that has happened to them.

@samsonsoturian6013 Жыл бұрын

Not if you live with them

@Jewzi123 Жыл бұрын

You should read this book its free it explains why Lebanon is a failed state JOURNAL ARTICLE Maronite Hegemony to Maronite Militancy: The Creation and Disintegration of Lebanon Elaine C. Hagopian

@casucasueq4479 Жыл бұрын

Every financial story in 2022... I gave/invested/stored my money with _ _ _ _ _ _ & now I'm shocked that _ _ _ _ _ _ misused/squandered/lost my money.

@JJs_playground 4 күн бұрын

Around 2014 some acquaintances (we live in Canada) told me they were opening up bank accounts in Lebanon because they were giving an interest rate of 20% on the Lebanese lira and 13% for the USD. So I told my dad (we are Lebanese) and he said no way, this makes no sense. Glad my dad had the foresight to realize this was going to collapse. But I have cousins and relatives that lost millions in Lebanese banks. Well they didn't lose it, but it's still locked up in Lebanese banks that they can't access.

@shawkathelmy1461 Жыл бұрын

Nice explanation! it would be e really good if you made a video addressing the problems egypt is facing right now

@davianoinglesias5030 Жыл бұрын

Right now there are so many countries along that path,, we haven't fully recovered from the economic devastation of Covid and we are already facing massive inflation. Countries are at the limit of borrowing, Sri Lanka has caved in, more to follow. I'm worried because its this scale of crises that results in big wars

@salqubeq5203 Жыл бұрын

Great video and explanation. Good job!

@T8rB 20 күн бұрын

LOL what was that turkey flood shit?? That was even more confusing than the original story 😂

@samsonsoturian6013 Жыл бұрын

Lebanese banks are also basically loan sharks as what rules there are in Lebanon are never enforced and most banks are ma and pa ventures (literally). The banks don't trust each other and refuse to cash each other's checks because the only thing more common than hot checks is paranoia about hot checks. This forces people to rely on expensive wire transfers, and they are generally unable to withdraw money as the banks are systemically insolvent and even if there was bank insurance the government would not be able to pay since they are also insolvent. Banking in the turdworld...

@sanshuma0 Жыл бұрын

fantastic episode !

@brendanwiley253 Жыл бұрын

One of these days, I really want to hear the story of a government who when faced with the decision of cutting social programs and finding new ways to become more economically diversified or just continuing doing what they're doing and printing infinitly more money to fund it actually choosing the first option even though it'd be less popular in the short term

@gordianknot5625 Жыл бұрын

Waiting for Godot.

@depreciatingasset Жыл бұрын

Volcker

@wallstreetmillennial Жыл бұрын

@@depreciatingasset very true, there's nothing more selfless than becoming a villain in the short term and only being recognized as a hero after you are already dead

@BeautifulEarthJa Жыл бұрын

Lol. It's called austerity and countries like UK did it for 10 years. Outcome? More poverty, as expected by anyone who knows economics.

@KaiserShield Жыл бұрын

That's not as doable as you seem to think. In the US our people will sooner burn the country down, and hang our leaders then even entertain the thought of cutting back benefits by even the smallest margin. So pretty much all goverments only had one path by then which is eventual collapse.

@JJs_playground 4 күн бұрын

11:37 It wasn't the largest non-nuclear accident, it's the the 2nd or 3rd largest non-nuclear explosion. The largest is in Nova Scotia with a munitions accident between 2 ships.

@weylandyutani4254 Жыл бұрын

"That's why I use moomoo as my stock brokerage" Such a cute cow! I trust that cow. This is one of the weirdiest sponserships I've ever seen.

@JamesHowarth42 Жыл бұрын

Not the biggest Ponzi scheme in the world. I know another country much much much bigger printing notes to buy their own bonds. Which is exactly what a Ponzi scheme is.

@shaezee-pajama7316 Жыл бұрын

Zimbabwe ??

@JamesHowarth42 Жыл бұрын

@@shaezee-pajama7316 USA

@SamJohnsonAZ Жыл бұрын

@@JamesHowarth42 can you explain?

@shaezee-pajama7316 Жыл бұрын

@@JamesHowarth42 I agree 👍

@sumitroy3483 Жыл бұрын

@@JamesHowarth42 usa treasury bonds are denoted in us dollar not in other currency.

@kubluu Жыл бұрын

One thing confuses me: The Syrian refugees that caused the crisis were the same ones that Europeans were told would be a great windfall for the economy?

@patrickbateman783 Жыл бұрын

😅🤣😂😅🤣😂😅🤣😂😎👍

@BobfromSydney Жыл бұрын

As mentioned in the video, the impact stemmed from the size of the refugee population compared to the tiny Lebanese population.

@joeah3479 Жыл бұрын

@@BobfromSydney You may be right but don't fool yourself, MISERY IS CONTAGIOUS.

@Jewzi123 Жыл бұрын

Steve Jobs was a Syrian , don’t forget that and he crated the largest US company in history it’s also the most luxurious U.S. brand .

@joeah3479 Жыл бұрын

@@Jewzi123 I would like to invite you to come here to Lebanon to see what I am talking about. The refugee crisis catalyzed the actual economic crisis here (and by catalyzed I mean they are not the main cause but they are surely fueling it). I would like you to see how young they are when they marry, have children and then send them to work at a very young age (We see too many children filling blue collar jobs instead of going to school). Education is certainly not a priority to them even when given the means. They are indirectly robbing what is left of the foreign currency reserves in the Lebanese Central Bank through smuggling. If Steve Jobs had a syrian father, he wasn't raised by him. The educated syrians are a minority and usually flee westwards while the rural majority remains in the middle east. Please be ready to live in a country where 30% of its inhabitants are refugees to understand why MISERY IS CONTAGIOUS.

@rohitghali Жыл бұрын

The blast was the final nail in the coffin.

@chaoabordo3399 Жыл бұрын

Wall Street Millenial to the Mooooooon ! Keep it up bro !

@danielh9184 7 күн бұрын

Hey, check your facts. 11:39 "Largest non-nuclear explosion in history" Not even close Halifax explosion 2.9kT. Three times as large.

@hockysa Жыл бұрын

it might have similarities to a ponzi scheme but I wouldn't say it was an outright ponzi things just ended up that way due to incompetence. the spending analogy makes sense, this is what happens when you listen to the people and give them what they are demanding for without taking into consideration its sustainability. you have to pay the bill eventually.

@mrjaratpon Жыл бұрын

From the clip Title, I thought you were talking about The Fed!!!

@alks091 12 күн бұрын

Exactly.

@ishan6771 Жыл бұрын

is Turkey not doing something very similar?

@4777hamza Жыл бұрын

ye 💯

@chris0000924 Жыл бұрын

Central banks down bad

@graymars1097 Жыл бұрын

Ah! Geography! Soooo important!

@zenastronomy Жыл бұрын

the lesson to be learnt from this story. do not borrow money at interest. especially in a foreign currency. especially if you are a country.

@designexplainedllc346 Жыл бұрын

Especially if your a 3rd world country!

@manhoosnick Жыл бұрын

Lebanon has been going through a lot for long time now, they don't deserve this :(

@BlackJesus8463 Жыл бұрын

You think responsible people get governments? lol

@Jewzi123 Жыл бұрын

They deserve this : You should read this book its free it explains why Lebanon is a failed state JOURNAL ARTICLE Maronite Hegemony to Maronite Militancy: The Creation and Disintegration of Lebanon Elaine C. Hagopian

@mxk6104 Жыл бұрын

And the week since this was published, the Bank of England turned on the printers... 🙊

@id104335409 Жыл бұрын

Nice scheme. Can't see what could go wrong.

@mattheww9656 Жыл бұрын

Kind of like fractional banking.

@lazarusvillagomez Жыл бұрын

Thanks for this overseas economy crisis.

@andreamelo5781 Жыл бұрын

Could you make a video for Suriname because whe have some serious problems

@AminurRahman-tj3sp Жыл бұрын

Wall street millennial will have a field day with everything thats happening to the world rn, talk about UK currency dropping to its lowest

@user-gw9vu6hz8l 9 ай бұрын

Should do the Sahara at some point too

@kikolatulipe Жыл бұрын

@1;51 Lebanon used to be wealthy country ? When ?

@newpilot1400 Жыл бұрын

You were referring to the government in the entirety of the video and ignored the fact that the state of Lebanon is a hostage under the Iranian militia of Hezbollah. They control every aspect of life there and are causing this crisis because the state is totally displaced and eradicated - domestically and internationally.

@casparcoaster1936 Жыл бұрын

well... I hope it was history's largest... but something tells me the USD as reserve currency might end up being a little bit bigger..

@RiseUp_Again Жыл бұрын

This always happens when we buy more than we earn

@BlackJesus8463 Жыл бұрын

It's called fractional reserve lending.

@selvoselvo1 11 ай бұрын

Near East Haiti, but what is then Syra, Lybia..

@MaGeQQQ Жыл бұрын

stonks go kaboom

@jameswells9403 Ай бұрын

If you hear risk free, its a scam. No loses probably means that they are using investor money to cover losses or shifting profits from one holding to another to cover the loss. A sign of a good financial manager is a certain amount of failure and loss.

@abuferasabdullah Жыл бұрын

TALK ABOUT AUSTRALIAN CENTRAL BANK LOSS ?! Plz

@screenwriterjohn Жыл бұрын

Can I steal my neighbors' turkeys?

@kalex7370 11 ай бұрын

this is so funny because you could literally swap lebanon with nigeria and the vide is still true

@SunilKumar-pu7me Жыл бұрын

From 2020 number of Economies falling is scary High

@SrChalice Жыл бұрын

Yet the people won't wake up to what is really happening. In 2021 we could've taken the world back but instead everyone got boosted. What are these idiots yup to now, 15th shot. The PLANDEMIC was a way to usher in rubbish. But most people see everything that they are always of as a "conspiracy theory".

@AnonymaxUK 7 ай бұрын

Just a general reminder that, in most countries, taking your own deposits from a bank in a robbery is still robbery.

@vanesslifeygo Жыл бұрын

Oh, that was footage of the World Trade Center.

@id10t98 Жыл бұрын

The country of Lebanon is not alone in this dilemma. Many nations have basically zero in the way of natural resources which they can harvest to help fund themselves, nor the willingness to charge the wealthiest people the tax rates necessary to fund the country's operations. These countries do all the financial manipulations they can to keep the show running but every theatrical performance must come to an end. The world needs leaders that understand Life isnt a choice and the more we make lives better for everyone, the better lives everyone can lead.

@albeit1 7 ай бұрын

Riad Salameh is as honest as he is handsome.

@JoseSanchez0795 Жыл бұрын

Well well...

@chiquita683 Жыл бұрын

They all are

@jeronimo196 Жыл бұрын

Aren't they all?

@santiagocedillo5025 Ай бұрын

Argentina is going down the same path 💀

@rameshhansaravendra Жыл бұрын

Exploded accidentally 🤣

@michaelsteven1090 Жыл бұрын

Best hash in the world!

@kamaldaud2782 Жыл бұрын

Pity the beautiful country and great food.

@stuartegrin7543 Жыл бұрын

Financial engineering 😂

@franco521 Жыл бұрын

You forgot to mention that 7 European countries have launched criminal probes into the governor of the Lebanese central bank and his brother

@heroisdacrise2024 Жыл бұрын

Saw the thumb and came to an elsavador video

@JordanScottMills Жыл бұрын

all of them

@philliplamoureux9489 Жыл бұрын

More than on the verge, this is the look of a early stage failed state. There is no reversal in sight.

@MagnusAnand Жыл бұрын

Repeat after me: pegs don’t work

@vanesslifeygo Жыл бұрын

Of course the people robbing the banks are heroes. All these "superheroes" like batman, spidey, etc. are just there to maintain a status quo. What better way for them to do that than to stop a bank robber.

@ahmedelshafey7602 Жыл бұрын

Well, all banks are!

@synewparadigm Жыл бұрын

Why the banks are open if they have no money?

@jewlstagara4562 Жыл бұрын

have you ever played monopoly ? check the bankers rules.

@synewparadigm Жыл бұрын

@@jewlstagara4562 No, I never played monopoly.

@vanesslifeygo Жыл бұрын

Never trust anyone who *wants* to be in charge...

@stuartegrin7543 Жыл бұрын

And no one saw it coming

@DanOneOne Жыл бұрын

Don't be pegged!😄

@johnl.7754 Жыл бұрын

Wonder how Carlos ghosn is doing in Lebanon

@Kabodanki Жыл бұрын

better than a japanase prison

@xiaoka Жыл бұрын

I’m sure he’s kept tons of money in forex around the world.

@sengwesetogile6054 Жыл бұрын

He has a lot of money in usd

@janakakumara3836 Жыл бұрын

These "Ponzi" schemes seem highly profitable. Where can I learn to do one?

@pantalome Жыл бұрын

troll account probably from pk

@LuisRojas-mz2mg Жыл бұрын

banana republic country problems

@chris0000924 Жыл бұрын

Happen to us soon

@LuisRojas-mz2mg Жыл бұрын

@@chris0000924 no chance but I bet you wish it would

@chris0000924 Жыл бұрын

@@LuisRojas-mz2mg Ah because it's 1st world you think it's immune to economic fraud? LMAO

@grantguy8933 Жыл бұрын

All of them are. Matter of time.

@BlackJesus8463 Жыл бұрын

It's not a farce if government accepts that exchange rate for taxes and fees and such!

@jordansme1234567 18 күн бұрын

Future of usa canada australia and all of europe

@maiden5427 Жыл бұрын

They should ask a certain pornstar to bail them out.

@joepappas4968 Жыл бұрын

Defi FUD

@indethbed2546 Жыл бұрын

Wow

@alexleung842 Жыл бұрын

When? Basically in all cases

@AApron Жыл бұрын

Enjoyed this segment...very informative... could've been used in a slight segway into the more macro/global financial aspect to this: All FIAT currencies eventually, someday, will go to zero. Thanks for covering the Lebanon finance topic!

@DanOneOne Жыл бұрын

every failure is because of a greed.

@Richard-ox6zk Жыл бұрын

So you are warning people for a ponzi scheme, and at the same time you are promoting an app for the biggest ponzi scheme in the world. Did you watch too many jake tran vids or something?

@AA_OnTheEdge Жыл бұрын

like China I suppose?

@SamSam-ie6ns Жыл бұрын

@ShadowlessMan Жыл бұрын

Fed be like: hold my beer

@samsonsoturian6013 Жыл бұрын

Shut up

@Uncle-Smart-Alec 11 ай бұрын

An entire report without once involving and/or blaming Israel?I must be dreaming!

@googlestalksme 2 ай бұрын

Wow just wow as if lebanese officials were not going to every country in existence to beg for money to "feed syrians" 🤣🤣

@cosmicbutthairs Жыл бұрын

"Pegged to another currency" seems to be a secret word for definite failure

@xiaoka Жыл бұрын

Hong Kong dollar has been pegged to usd for many decades.

@4777hamza Жыл бұрын

@@xiaoka & US dollar is a fiat currency 😅

@BolsakTBagger Жыл бұрын

every lebanese person got pegged in both ways. financially and the other kind.

@contenteater Жыл бұрын

I take it Lebanon doesn’t have Deposit Insurance? 💸

@sengalkol Жыл бұрын

When the rothscilds own your country central bank this happened

@TooLateForIeago Жыл бұрын

This is the sort of economy where bitcoin makes economic sense. Not pretty.

@sengwesetogile6054 Жыл бұрын

How many major retailers accept bitcoin?

@TooLateForIeago Жыл бұрын

@@sengwesetogile6054 None that aren't run by criminals or idiots. Back in 2021, I came across an analysis that concluded that under optimal mining efficiency, BTC would only be more desirable if the local fiat currency had a 24% inflation rate, but under actual efficiency (at the time of the aritcle's writing, the inflation rate would need to be above 200%.

@kasbas5922 28 күн бұрын

No need to all these analysis, Lebanon problems are because of 2 things: 1- Internal corruption. 2- a country called Iran. And I would say Iran is the main problem that this country is facing hands down.