listen to recordings of our weekly #Bitcoin travel podcast! we interview Bitcoin maxis in different communities worldwide
approaching 50 countries 🌎🌍🌏⚡️👇
@SimonDixonTwitt ping @elsultanbitcoin
I remember the Venezuela 🇻🇪 @GlobalBTCFest episode where you talked about the military mining Bitcoin on industrial scale (25% of the military budget). Maybe can expand on that here? And maybe can be related to the 600,000 stack?
we covered Venezuela 🇻🇪 adoption back in 2022, maybe even more interesting now when rumors of Venezuela 600,000 stack is circulating
in the episode @elsultanbitcoin drops some interesting info on large scale mining by the Venezuela military…
To me a ”Bitcoin maximalist” is a person that:
1. Recognizes that fiat money is the biggest problem humanity is facing (or one of the biggest)
2. Believes Bitcoin (BTC) is the best shot we have at a solution to that problem
3. Prioritizes Bitcoin’s long-term success over their short-term gains
A lot of people qualify for the first two criteria. Very few also live by the third.
𝗘𝗧𝗛𝗜𝗢𝗣𝗜𝗔𝗡 𝗥𝗘𝗦𝗢𝗨𝗥𝗖𝗘𝗦 𝗙𝗢𝗥 𝗘𝗧𝗛𝗜𝗢𝗣𝗜𝗔𝗡𝗦 🇪🇹!
WE AREN'T ASHAMED OF THAT, AND YOU'LL NEVER MAKE US ASHAMED OF IT!
THE RESOURCE IS RIGHTFULLY OURS! THEY AREN'T YOURS. ENERGY IN ETHIOPIA IS A TAX-FUNDED RESOURCE FOR THE PUBLIC! Since you want to have this conversation publicly, let's get into it. We expect your PUBLIC convincing response as well. The world will decide who has the "wildly incorrect" claims.
First, your crippled choice of words in calling Project Mano "xenophobic":
Governments exist to serve their people; THAT'S LITERALLY THEIR JOB DESCRIPTION. No one calls this xenophobic. Xenophobia is hate... all we asked is whether we put priority on the STATE, the public, and the locals before we opened the floodgates to foreigners who will unashamedly and corruptly buy their way into every government office, who were chased out of every country they went into, and who amplify corruption and greed and actually cause a power shortage instead of helping electrify the country?
The reason power in Ethiopia is a STATE monopoly and cheap is for a reason. It's not rocket science. Most of our population earns $1 a day—they can't afford food, imported items, or the luxury things you consider a product of the "free market." It isn't so the rest of the world brings their machines and makes 75-80% profit mining while throwing us pocket change that will NEVER, no matter how you do the math, take us where we need to 3-4x our export revenue. State power in Ethiopia is A TAXPAYER-FUNDED resource!! We elected a system where no company except the government can operate in generating energy to make it accessible for the public. For this reason, it is NOT a FOR-PROFIT "company" like you make it sound. It exists to serve the public at NO profit—which is why we PAY our taxes to make power cheap for all of us, NOT FOR FOREIGN BITCOIN MINERS to come and pay us pennies on the dollar. ANTI-COLONIALISM IS NOT "XENOPHOBIA"!
The structure is in place to benefit the poor. Our water, our power, and our energy work from tax money and not for profit because that's what we want. Those are the systems we elected. You can't show up and lecture us about how it must change because it's good for your profit margins. Democratically and culturally, we like helping each other, and therefore many of our essentials, just like the police and military, are provided by the State and ARE NOT outsourced for profit to make an already difficult life impossible for our public.
You are calling us "xenophobic" for wanting the MAXIMALLY BENEFICIAL outcome for Bitcoin and Ethiopia.
You mine Bitcoin because you believe someday it will be worth multiple millions of dollars, and the cost of acquisition at today's price by mining it gives you an insane margin for the future price you might liquidate it at. Therefore, the nuances of whether your profit margin is 90% or 75% make absolutely no difference. There is an opportunity to acquire it at way below market price, and the country can do that to fund its STATE duties.
We DO NOT want foreign Bitcoin companies to profit and extract all the Bitcoin out of the country. Hell, we don't even want "local" companies to just profit, even though that's a better structure—we want the PUBLIC, EVERYONE IN THE COUNTRY, to benefit. The MAXIMALLY beneficial role can only be accomplished by the Government, as it's LITERALLY their job to serve the public.
THE ONLY WAY TO SHARE THE REVENUE WITH THE PUBLIC IS BY STRENGTHENING THE CURRENCY EVERYONE USES—THIS WAY, EVERYONE GETS RICH TOGETHER—NOT FOREIGNERS, NOT A SELECT "FEW" ETHIOPIANS. THIS IS DONE BY CLOSING THE TRADE DEFICIT AND HAVING A RESERVE THAT WILL OUTPERFORM OUR INFLATION RATE. You know this. You are just scared that if the government starts mining, it will monopolize the market and kick you out of the country. We have told you time and time again, there is enough room for both the STATE and few local companies to mine, where the earned revenue is used to fund a NATIONAL BITCOIN RESERVE and ACTUALLY ELECTRIFY not make 50m$ or 100m$ insulting dollars. Ethiopia is a poor country where we can't justify buying Bitcoin to have a reserve, but we have a once-in-a-lifetime opportunity to acquire it cheaper than the market value, put it in reserve, and allow it to grow over 1000% in few years. This will truly open the economy by creating an inflow of FX and distributing wealth in the only currency we are allowed to own. WE ARE TIRED OF BEING PUBLICLY EXPLOITED, BEING A LAUGHING STOCK AND DESPITE PROJECT MANO'S EFFORTS, BEING SCOLDED BY THE LIKES OF YOU.
Your fight here is pathetic and It's ridiculous. You have been trying to convince the government to import the rest of the world to benefit from TAXPAYER-FUNDED, NON-PROFIT power, to MINE BITCOIN TO TAKE OUT OF ETHIOPIA. Oh, Ethiopian government made pennies by selling electricity? Wrong. It just turned the money the public gave it for energy to Bitcoin miners for nearly zero profit when you calculate it. BUT YOU KNOW THIS! YOU PRETEND NOT TO... now let me get to your next "point."
That "we fail to understand why government mining is a terrible idea": Oh yeah? WE DO, HUH? You and your crony foreign miner "partners," who are afraid to show their faces and put fake Ethiopian-looking "CEOs" like Kal Kassa because they actually understand they are exploiting the country, KNOW IT'S NOT A TERRIBLE IDEA. You have been screaming this with no proof, no research whatsoever other than your said so with no depth. You proclaimed this from the first day you set foot in the country because you are SCARED that if the government mines Bitcoin, they would compete with you, and you can't possibly imagine a cooperative environment. But I'll play devil's advocate and assume you don't know. A few questions for you:
What makes YOU so DAMN competent—more than a country full of 100 million people, who, by the way, just built the largest hydro dam in the continent that produces 6,000MW, which you are BEGGING to have access to? What makes us SO DAMN INCOMPETENT that only "foreign" miners like you are the only ones who can make it work and make it profitable in literally the cheapset energy sector with ability to make it cheaper and build new resources? You can lie all you want, but we do know your profit margins. But as I said above, the true profit margins ARE NOT today's Bitcoin price; it is tomorrow's Bitcoin price. As a nation, we don't want them to "mine" it to immediately sell it. WE WANT A RESERVE. THAT HAS BEEN PROJECT MANO'S GOAL SINCE DAY ONE.
We realized asking the government to buy it is unrealistic, so we made a plan for the STATE to acquire it through mining. Instead of partnering with us to make this work, those of you, who I'd actually call ANTI-BITCOIN, are in the middle causing friction, stopping a nation-state from MINING, and therefore ACQUIRING a National Bitcoin Reserve.
This time will pass, and history will look back at this moment, recognizing that Project Mano was correct while you were lying.
Project Mano wants nothing—no money, nada. We started this initiative 7+ years ago because we saw a glimpse, a rare, once in a life time unbelievable opportunity to turn this cursed economic situation into a true paradise where hope and aspiration can live. A future where we are finally not ashamed to call ourselves ETHIOPIANS can come—not for us, but maybe for our kids. the highlights for projectmano are on https://t.co/Rr20QHcPWO but we have super detailed plans
You are wise and old enough to understand all of this. I believe you engage in these conversations with ill intent and that you actually understand what we want COULD work, WOULD work, and you are just scared it would sabotage your business endeavors, no matter how many times we tried to clarify that if you work with us, it would not.
A true Bitcoiner wouldn't do what you are doing. working extra hard from stopping and misinformating a not wealthy Government mining and holding BTC is bad for them. Instead, they would tell and lobby the Government to:
"Yes, if done well, if done transparently, the STATE could generate revenue that could 3-4x its foreign income, this could reverse inflation, and as Bitcoin price goes up, it will likely save a generation. But this is hard to do—it needs to be planned well, executed well, needs a committee, needs to be transparent to the public, and have an anti-corruption board—while at the same time, allowing locals to participate in this economy.".
This is how we will create a Bitcoin country. It's not rocket science—just simple steps.
DO BETTER! PEOPLE & HISTORY ARE WATCHING!
don’t be Ethiopia 🇪🇹 and be pillaged by foreign Bitcoin miners colluding with corrupt politicians, there are better ways to import FDI
I’m willing to bet that this ”party” will end in tears as foreign miner equipment gets confiscated when the president wakes up to the shitshow
foreign Bitcoin mining companies are pillaging the Ethiopian 🇪🇹 energy market together with corrupt politicians, fiat colonialism under a Bitcoin mask
@projectmano is the only one speaking up about this while many Bitcoiners are cheering on the trainwreck
this is not the way 👎
PLEASE READ THIS!💔🧡
A Balinese family from our #community recently fell victim to a phishing attack, losing all their bank savings at the end of the year. Sadly, this happens far too often in #Indonesia. The scam forced them to sell their bitcoin to cover daily expenses.
The single mother of two, now juggling a 4th job and a loan, is fighting to keep food on the table and save for her daughter, Cahya, to attend university. 👩🏽🎓
Cahya is an incredible young woman - a bright, passionate member of #Bali's #Bitcoin community. Maybe you remember her. She sold her beautiful Balinese Bitcoin paintings at @BitcoinConf_ID and is the only person we know who is so dedicated to learning about Bitcoin that she's attending @MyfirstBitcoin_ for the 2nd time.
This experience was a final wake-up call. They’ve realized they can’t trust banks anymore. Bitcoin is their way forward. But the first university payment is due this month.
Calling on Bitcoiners everywhere: let’s support Cahya and her family with a few sats. ❤️
📲 Here’s her wallet: [email protected]
Every little bit helps to give Cahya a better future and her mom some peaceful nights of sleep. 🙏
there has been a Bitcoin mining boom in Ethiopia 🇪🇹
but instead of something to celebrate, it became a shit show of gov corruption and foreign actors pillaging Ethiopia resources
@projectmano kicked it off (@GlobalBTCFest was first to cover it in 2021)
a big disappointment👇
When we started projectmano, 1USD was 25 ETB. Today? Its 139. We saw it coming a mile away. Our recommendation was: AS A GOV, monopolize & mine #BTC using stranded energy, Store as reserve, link to currency = easy. Strong ETB. Wrote public policy proposal: https://t.co/ZIaIYbElEt
7 September episode where @projectmano goes public with their project plan, it sounded very out of reach back then
listen at the end of the episode👇
https://t.co/KJnaoUoe2H
first time live meeting the crew we interviewed with @GlobalBTCFest almost two years back incl @kolotom99@StackingSaunter and a few more
https://t.co/JxL6oEr95S
Thank you so much for the kind words !
We're thrilled to be recognized for our work in building the Bitcoin community. It was a pleasure being part of the @GlobalBTCFest show, and we're grateful for the opportunity to share our journey..
Together, we'll continue to grow !
these guys doing great work! the @BitcoinBenin crew is one of the most awesome and undercovered Bitcoin community builers out there
we had a great @GlobalBTCFest show covering their work, can listen here: https://t.co/isyn0sQD93
I’ll chime in too with a donation