@Raphael1402X $45k to pay off a debt so that I dont lose the family home. The debt was due to a failed business. Its completely soul crashing and I know I have shrink to a tenth of the person I was. If pain and regret had a number it is would be $45k!
Firstly, Ethiopia is under US sanctions while Vietnam is not. And speaking of former French colonies, Haiti was the first to get independence (1804) and is still one of the poorest countries in the world because of the debt they had to take on to gain independence (it took them until 1947 to fully repay it!). Whereas, New Caledonia is still a French colony and is neither rich nor poor.
"If colonialism were the answer to why Africa is poor..."
This line completely ignores the European powers' (and US) post-colonial control over Africa. Patrice Lumumba, the first democratically elected leader of the DRC, was tortured and killed by Belgium and the US for being a nationalist. His body was dissolved in acid so he wouldn't become a martyr. His legacy is largely unknown even within the continent. Several other such "lessons" were meted out. Google Thomas Sankara (Burkina Faso) and Sylvanus Olympio (Togo).
Once you set the example, you gain obedience. The VietCong, on the other hand, didn't surrender even though 3 million Vietnamese died during the war, and several thousand more continue to die to this day (!) from Agent Orange exposure.
As for former French colonies in Africa, France still controls their currency and holds their central bank reserves in France. As Rothschild purportedly said, "permit me to issue and control the money of a nation, and I care not who makes its laws."
Third, the borders in Africa were drawn in such a way that conflict was inevitable. At the Berlin Conference in 1884-85, the European powers simply carved up the continent by drawing straight line borders. African leaders were conspicuous only by their absence at this historic event which shaped the next century. This is why Cameroon, a French-speaking country, has a minority English-speaking territory, ensuring it remains destabilized. Likewise for West Asia/the Middle East, where the Sykes-Picot legacy lives on.
@magattew conflates formal colonial rule with colonial control. Vietnam managed to fully kick out both France and the US, reunified the North and the South, and kept its sovereignty. All African leaders who attempted the same have been systematically eliminated (see Muammar Gaddafi, Libya's divisive leader, for a recent example), ensuring Africa forever bears the open wounds of its colonial legacy.
But Ms. Wade is right on one thing: Vietnam owes its prosperity to overcoming colonial rule. Maybe Africa can become prosperous if Africans do the same.
bitcoin broke $70k and everyone’s calling the top. i don’t think that’s it — i think bitcoin’s just not the center anymore, and honestly that’s the bullish part. wrote a whole article on why, but here’s the tldr:
it lost two jobs this year. it used to be the market’s risk trade, and it used to be crypto’s money. AI took the first, the dollar took the second
AI capex this year is ~$700-830B, call it half the entire investment-grade bond market. bitcoin has no cash flow, it just soaks up loose risk capital — and the biggest capital vacuum in history is soaking it up first
the money part is what people are sleeping on. usdc passed tether, stablecoins settle ~$30T a year, the on-ramp now is just fiat → usdc → whatever you want. bitcoin isn’t in that path anymore, so it can keep falling and never catch a bid from onchain activity
meanwhile the onchain stuff is thriving — hyperliquid did more volume than coinbase last year, polymarket’s at $20B. real businesses now, none of their demand depends on bitcoin
and the part i find most interesting: crypto isn’t consolidating, it’s spreading out — tons of chains, a dollar layer underneath, agents moving money on their own. that needs something to tie it together. used to be bitcoin’s job, it’s open now, and near’s quietly positioning to be the layer that fills it
the full piece goes way deeper on all of this — the mining stuff, why quantum is fixable but AI isn’t, the privacy angle, where near fits. worth the read if this thread got you thinking
bitcoin breaking $70k isn’t crypto ending. i think it’s crypto growing up 👇
@7BLO_@vultisig We need marketing efforts to drive consumers to use the app. Economic hacks are good but do not drive usage. This is a consumer grade product that people need to know and use. We dont have enough downloads to be taken seriously!
@MwangoCapital Why is @CentumPLC still in this investment? Terrible business that continues to torch shareholder capital. It has zero prospects in compounding capital.