Meet Bitcoin community in Lebanon
On April 2nd, 2023, the passionate Bitcoin du Liban (BDL) community came together at the Global Bitcoin Fest to discuss the unparalleled opportunities that Bitcoin offers to people all over the world, particularly in Lebanon.
Lebanon's tumultuous past, marked by political upheaval, economic downturn, and rampant corruption, serves as a backdrop for the nation's current financial crisis. This crisis, due to the central bank's Ponzi scheme, has led to an alarming loss of over 98% of people's wealth.
As a result of this catastrophic situation, Lebanese citizens are facing widespread poverty and social challenges. Despite these hardships, Lebanon's people possess an unwavering independent and entrepreneurial spirit, bolstered by their Phoenician ancestors' history of valuing trade and self-reliance.
With a significant Lebanese diaspora present around the globe, the nation's economy depends heavily on remittances. Citizens tend to invest in tangible assets, while many businesses operate on a cash-only basis.
In Lebanon, Bitcoin can be utilized through peer-to-peer (P2P) markets and "offices." However, high fees and issues regarding trust affect its usage. Consequently, the Lebanese Bitcoin community is tirelessly working to establish a Bitcoin-based economy and raise public awareness to prevent scams.
The adoption of Bitcoin, its rising value, and the weak currency crisis can be attributed to individuals pursuing their self-interest, driven by profit. Fundamentally, Bitcoin exists to counter the global problems caused by quantitative easing (QE) and serves as a life raft during times of financial turmoil.
You can find below Podcast link, Twitter announcement and Brief summary by 2 Minute Bitcoin