Why does this site exist?
In the genesis block of Bitcoin, embedded within the code, lies a cryptic headline: 'The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.' This message, a stark reminder of the financial instability and government interventions of the era, underscores Bitcoin's founding ethos. Against this economic backdrop, a new financial network came about, introducing a novel means of exchange and a nascent currency with the potential to serve dual purposes: a mechanism for value transfer and a store of value. At first glance, Bitcoin's volatility is a significant drawback, as its price fluctuations can be seen as too erratic for it to serve as a reliable asset to hold. Indeed, when viewed from the perspective of countries with relatively stable currencies like the US dollar, Bitcoin's price chart can seem dauntingly unpredictable. Financial markets, traditionally centered around relatively stable currencies such as the US Dollar and the Euro, further amplify this perception of Bitcoin as a speculative asset rather than a secure investment. However, the lens of volatility is inherently subjective. In light of the diverse economic landscapes across the globe, concepts of stability and security need to be reevaluated across significantly different economic realities.
The narrative around Bitcoin's utility and stability is more nuanced than it appears. This perspective becomes clearer when shifting the focus from financially dominant countries to those with greater economic instability. In nations like Argentina, Turkey, and Nigeria, where local currencies are subject to rampant inflation and devaluation, Bitcoin has a starkly different value proposition. For the citizens of these countries, Bitcoin presents itself as not merely an investment but a potential lifeline. Amidst economic turmoil, Bitcoin continually reaches new all-time highs in these regions, outpacing the devaluation of local currencies and offering a semblance of financial stability to those who have little faith in their government's monetary policy. In this context, Bitcoin transforms from a speculative asset to an attractive store of value, holding savings more effectively than local fiat currencies. Furthermore, due to its difficulty of seizure and censorship resistance, it also serves as a means of preserving wealth in the face of political instability where capital controls and confiscations are common. This site aims to visualize that alternative perspective — the Bitcoin price charts from outside financially dominant countries.
By examining Bitcoin through the lens of those who benefit most from its value proposition, we find it to be a compelling beacon of hope. For individuals in countries with volatile economies, Bitcoin offers a way to preserve wealth in the face of depreciating local currencies. It represents not just an opportunity for investment but a potentially necessary tool for financial survival.