Soona Amhaz, Cofounder at Token Daily Capital tweeted a video last night of a “mainstream” Arabic news outlet talking about using Bitcoin as a way to get around capital control after protests in Lebanon. This week, thousands were protesting against the new Prime Minister who is backed by a militant group and its allies.
My mom has mainstream Arabic news on (@AlMayadeenNews) in our living room to track the protests in Lebanon and I just caught a clip of them talking about bitcoin to get around capital controls this is insane pic.twitter.com/CVCg9V7li7
— Soona (@soonaorlater) December 24, 2019
I am unable to translate the video, but Ahmaz did Twitter that favor.
“She’s says ‘okay to start, using digital money is illegal right - the bank of Lebanon will not allow it correct?” Amhaz continued, “He responds it’s not illegal btw and talks about bitcoin and dapps being the future. admittedly i did not expect them to know about dapps.”
Ahmaz posted a tweet shortly after of another clip where the newscaster said that people were buying Bitcoin with cash, not debit cards.
Coindesk Journalist, Leigh Cuen responded with a video on Instagram where an Arabic speaking influencer was promoting crypto, citing a person being unable to get their money from a bank. Again, we are not able to translate exactly what was happening at this Lebanese bank, but the original poster commented this.
“bank refused to give a poor man his money, so he came back with his friends to try and get it”
View this post on Instagram
Time to invest in crypto, cause our banks are the same thing as our sulta: thieves, stupid, liars and can never be trusted. Fuck the banks. Fuck the politicians (they're the same thing). It's time to start getting paid and paying in crypto, so these disgusting beings stop wiring our dollars to Switzerland, then condescendingly "explain" why I can't have my fucking money, and how it's our fault. Oh, and Bank Audi charges a DOLLAR to send you an SMS for transactions ??
Leigh, an expert on Bitcoin’s use cases as a currency then elaborated on what she thought about the situation.
They are actually using bitcoin for what it was designed to do but the adoption process is painful to watch. (& honestly idk how long the btc honeymoon period will last…)”