You freaks are looking at an interactive map of global LocalBitcoins volume indexed to reflect Bitcoin's utility for individual countries. The newly coined metric, Usage Per (Online) Economic-Person or UP(O)EP, takes the number of people with access to the Internet and GDP per capita into consideration when measuring volume to help paint a clearer picture of Bitcoin's relative impact from country to country. Huge shoutout to Matt Ahlborg who just came out of nowhere and dropped this metric and analysis on everyone without notice. Matt just confirmed what I have been surmising in this rag recently (here and here), but could not articulate with data other than pure trading volume.
Ten years in and it seems that Satoshi's mission of providing sovereigns in need with a distributed digital bearer asset they can take complete ownership of is coming to fruition.
This is the most bullish fundamental in Bitcoin right now, and it doesn't look like it has even caught on in earnest yet. This trend is just getting started, it seems as though we may have reached a tipping point in awareness and understanding of Bitcoin's utility and value prop.
While these developing countries may not be able to produce the capital inflows that their developed counterparts can, the fact that individuals in these countries are using Bitcoin out of pure necessity, enjoying the product, and continuing to buy more is HUGE. If this trend continues, it's hard to imagine that it will not be picked up on by the rest of the world at large, inciting more sovereigns to enter the arena.
Slowly, but surely. Onward.
Was trying to be cool and skip steps running up the subway stairs while a bit tipsy last night. Hurt my knee and ruined a pair of white Vans. Some true NARP shit.
Enjoy your weekend, freaks.