/biz/ - Business & Finance

>>22777031
shill me the next 100x shitcoin

>>22777031
How'd that nuke go

>>22777041
I am not shilling, imo BTC, ETH are gold and silver, the rest would be at a DYOR basis

>>22777043
political negligence because corrupt government; basically let a ticking time bomb near civilians
I don't wanna get into the politics since it's against the rules but if you want any clarification as to why hyperinflation happened feel free to ask

>>22777076
how many people are using crypto? Are shops using it?

The Lebanese Economy is collapsing as the value of the Lebanese currency used to be 1500 LBP 1USD, the lira has lost over 80% of it's and now 1$ = 8000 LBP in the black market as it is expected to get devalued further. This has caused hyperinflation rate close to 500% as prices basic necessities has insanely skyrocketed.
Unemployment rate has greatly risen as well as salaries are cut in half.
Almost half of the Lebanese population is living under the poverty line.
The coronavirus pandemic has exacerbated the collapse overwhelming the healthcare system.
The Economic collapse was caused by the politicians & the bankers & the establishment.
The central bank began printing money out of thin air so the head of the central bank Riad Salameh gives money to the politicians to please them so they make him a president. As well as Hezbollah controlling Lebanon which made other countries stop investing in Lebanon as well as the US Sanctions.
Hezbollah along with their allies have become extremely more authoritarian.
On 15 October Lebanon had potent wildfires as the government was incompetent in stopping the fires.
2 days later on 17 October, the government passed a policy which is a whatsapp tax and that was the straw that broke the camels back that lead to thousands rallying against the establishment which is known as 17 October Revolution.
Establishment has increasingly become authoritarian.
The demonstrations stayed consistent until 8 March, but COVID-19 pandemic has put the revolution on hold despite the fact that small demonstrations happen

be happy about the dawn fall as it will be a good breading ground for extreme ideology's that would hopefully stop and reverse the degeneracy of the Lebanese society
also gold is a better save haven in crisis then bitcoin just look at gold price in the years after each economical crises

>>22777092
there are few shops that do accept , but a law firm who has clients abroad made use of bitcoin
Since we cannot withdraw any dollars from banks hence the name an economist coined; "lollars", which is a dollar stuck in the Lebanese banking system, people who have offshore USD savings wire them and purchase your crypto in Lebanon on telegram groups or local bitcoins for USD cash.
People who manage to find small tasks to do online get paid in bitcoin and sell them here for cash, basically living day by day
I lost my savings in this inflation which I was planning to use to immigrate but with all that happened seems we are stuck in this
So, I am always on the lookout on freelance jobs if I manage to land any and actually made around 200$ the last two months which is not bad considering the inflation

>>22777120
downfall?*
I hope it reverses it.
To get gold you need USD banknotes and with the capital control laws and basically no access to deposits people cannot hedge their purchasing powers anymore
Example: I had around 5k USD worth of Lebanese pound savings and now they are worth less than 1k, so I am using what I have left for resources and necessities not gold sadly

>>22777216
ah unfortunate but is there not a black market in lebanon or does they not accept Lebanese currency even in the black market

>>22777031
fuck the economy what are the women like in lebanon? ty LebAnon

>>22777332
no they do
I can get gold but I pay with LBP at the USD market rate so I get 1k worth of gold and since I got laid off at the middle of the crisis I would starve lol
it's gonna happen in a month or two eventually because government subsidy for oil, wheat and medicine is gonna stop and shit is gonna hit the fan

>>22777383
fuck our economy indeed, cause of this corrupt economy we never had 24hr electricity lol
the Lebanese women are good

>>22777394
it seems you are fucked Lebanese bro at least try to find a low paying job so you dont starve

>>22777394
also if thing get better never again keep your saving in cash in a country with a high inflation as all non first world country usually have high inflation even at good times

>>22777516
I never knew that
They were around 5k that I was planning to use to GTFO
if I make it out alive after all this I will start keeping my savings in offshore accounts or crypto for that matter
I am Lebanese so I did not have a choice desu

the saddest part and what I learned is to not live frugally and save up
I worked for 5 years and instead traveling or buying stuff I was like fuck it I will save up
and it backfired badly

>>22777708
OP here btw
electricity went out as usual so router reset

>>22777732
thanks economy
I know people that are using

>>22777092
>>22777757
a main usage is since people's savings cannot be transferred to their kids studying abroad, parents are purchasing BTC at a loss and sending them to their kids abroad
fuck central banks

>>22777780
damn shit's fucked. I feel for you lebanese bro, how old are you? how hard is it to get a job?

sorry Leb bro it sounds so fucked, can you grow potatoes in your apartment or anything

>>22777985
I have tomatoes and leaves on my balcony, not a big apartment
>>22777965
I got laid off back in march and yeah unemployment is shit
I got a part time job and make around 80$ worth at the moment
am 27 tomorrow, it's sad

Yo brother hope you are doing well I visited a few years ago was amazing, jbeil especially. Beautiful
Glad crypto can help you stay safe m8

>>22778074
yeah the beaches there are beautiful and one of the cleanest
Yeah whatever tasks I find on reddit or something I take em up, aint no shame in any work

Post wallet, will spare some shekels later for a fellow lebanese

>>22778113
BTC?
3PwntQwoHYuzcYrUJhxkF9J8QDJqH857tY
Thanks man appreciated

>>22778154
what do you prefer?

>>22777031
لبنان ليست عربية
Trash country

>>22777031
RSR

>>22778168
whatever is easier for you it's all gonna get converted to cash in the end
>>22778190
I dont know what country you are from but we are arabic and you can't argue that
we got 18 different religious sects and the people are resilient
you, sir, are the trash

>>22778227
one tip I have is constantly look for early stage crypto companies with potential (no shitcoin farming scams)
I made quite a bit of money mining early stage projects and getting coins airdropped

Are you Christian or Muslim?

>>22778699
I'll look into that because honestly we cannot purchase crypto on coinbase etc...
we dont have paypal nor cashapp here because of banking restrictions and that was before the crisis started
>>22778721
am christian maronite

>>22778751
Me too. My parents are Syrian Maronite actually but we have Lebanese relatives. Anyways how do you feel about Hezb?

>>22778833
nice to meet you man
dude hezb played a major role in the economic downfall of the country, covering for millions of smuggled money abroad

>>22778154
>no transactions

>>22777031
do you own any precious metals?

The fiat rugpulls are starting.
>he doesn't own BTC

>>22779273
yeah it's okay I didnt expect anyone to send me lol
if you mean my address? I use electrum so every time I share my address they advise to share a diff one for anonymity
>>22779311
I have a golden cross I got when I was baptized
>>22779549
we never could purchase any in Lebanon, only from traders and I was saving up in the banks now am screwed,>>22778154
you can send me some if you'd like

>>22777031
Precious metal fag here, how valuable is gold and silver in Lebanon right now? Are you guys on the verge of going full Bosnia?

>>22777092
Hey OP, my grandfather was a christian lebanese, he came to Brazil in the 40s
There's a lot of lebanese diaspora and descendants here, I know it's not a first world country, but it may be a good start

Explain the relation between Lebanese government and central bank. How much debt to gdp before inflation? How did they inflate the currency?

>>22779655
OP here
I think my tripcode changed since electricity went out again
People are holding on to whatever silver and gold they have or inherited because jewelers purchase them for USD, most of them have bolted doors and legal guns
yeah its either that or bitcoin for the generation that understands it
>>22779911
yessir we have a lot of diaspora mainly in brazil and US
I wish I could come but I dont have any cash at the moment , gonna hustle my way out

>>22780105
Come to australia we need more lebs to balance out the chinks

>>22779953
The central bank governor
https://www.youtube.com/watch?v=NEO4y-Jy5Pk
Watch this interview if you are interested
He basically created a cover for all politicians, be it sunnis, shia muslims or christians, to be able to evade government money, funds and aids that came like paris 1 2 3 and the recent cedre that the government is banking on as well as an IMF loan
Sadly, since at the beginning of the inflation all the political warlords wired their money abroad that were wrongfully acquired by diverting everything the people pay in taxes and such, we never had functioning electrical systems, or water or internet or even good roads. The substantial amounts of USD that were wired abroad led to a big crisis that we are suffering now and it's gonna get worse because subsidy for basic resources is almost gone.
When honest people slaved for years, their savings were basically stolen and gone, we can only withdraw monopoly money now
The official USD rate you see on google is 1500 LBP ( officially 1515 and fluctuates BARELY), whereas people who actually have USD banknotes have a value of around 7500 to 8000 LBP, depending on the rate; people purchase peer-to-peer.
And since our economy is based on importing, most foods have quadrupled and even more in prices. Forget luxuries, hams and cheeses, meat and chicken are skyrocketing
Famine is around the corner and social unrest is scary as fuck

>>22780217
Dude I am applying anywhere
I cant use my money in the bank as a proof of statement since its worthless, my VISA got rejected to France to study because I was planning to use the money I have to sustain myself for a while, Australia am gonna start applying, fuck it I'll scrub toilets dude I just wanna gtfo lol

>>22780105
so if i'm understanding this right:

gold and silver are being used to retain wealth and purchasing power for those who were fortunate enough to have some before the collapse. on the other hand, people are using bitcoin (and other cryptos) to do day to day transactions. basically, for those who might live in other countries and want to be prepared, being all gold or all crypto isn't the right hedge, you need some of each?

>>22780293
Spot on, except for day to day transactions
GOLD is used to retain power yes but crypto is used to receive money from abroad, sell it for USD cash that is used for day to day transactions; you had just missed a step
if you wanna move its best to sell your gold for cash and use that for a ticket etc... Crypto is used to move your money abroad

>>22780293
For the vast majority of people the only gold and silver they will have will be in jewerly so it would be difficult to transact in it unless you had tubes of merc dimes.

Bitcoin is a fiat currency that no government can print more of, that almost anybody can get a hold of and that can never be confiscated other by torturing somebody for their codes.

https://www.youtube.com/watch?v=5xukJepz6sE
watch this, dw news and vice made a lot on Lebannese protests etc...

>>22780394
a lot have gold ounces and silver ounces actually, that can be sold for direct cash, jewellery loses more value when sold afaik
yeah btc or dai/usdt, and yeah our government does not understand this
two weeks ago they wanted to digitalize official transactions due to covid but they said we are sorry our employees could not comprehend using a computer; I SHIT YOU NOT

>>22780431
I am more fond of ETH because more use cases and a lot of small gigs I find online pay in either DAI or ETH.
HODL on for anyone holding crypto, 1 BTC will go a long way in the foreseeable future
I'd post my address but I did above, I hate panhandling but if anyone wants to send me something I wouldn't mind honestly lol

>>22778113
Please shaqiq can you spare some eth?
I want to buy some bread and milk thank you <3
0x3fBF25deF67cF7675dA806086b747B00ba805388

>>22780394
a bit of a semantic point. bitcoin is not fiat currency. it is hard money.

>>22780394
>Bitcoin is a fiat currency

>>22780382
okay. so in lebanon, the USD is still considered "safe." i expect hyperinflation in the US at some point in the future, so in that case, there would be no middle step as you describe here.

>>22780688
fucking KEK you dumped your 400 UNI the second it touched your hands for a measly 2.9 eth. never gonna make it

>>22778833
>maronite
hey me too lmao whats up
also im against hezbollah they are just faggots choking the country to death using "israhell" as an excuse. On the outside and in their propaganda they look based and "protect the christians" when in reality they dont do anything but corrupt the politics and threaten and kill innocent lebanese

>>22780719
its the safest
here at least
we are paid at the official 1500 LBP for 1 USD rate but when you go and get groceries, they're imported and manufactured at black market USD rate of 7500-8000 LBP now
>>22780688
>0x3fBF25deF67cF7675dA806086b747B00ba805388
if anon sends me I'll send you in return
>>22780799
I never knew about uniswap giveaway, since well I never had access to exchanges and such
0x71A53b935448D1fa85459Bb972507E9816B8019c
am OP send me ETH I'll convert to cash, ain't gonna hodl anything at the moment
>>22780806
EXACTLY!
they don't protect us for shit but a lot of people abroad who have no idea how corrupt they are think hezb is muh based

>>22777186
I'll give you a job, what are you willing to do?

>>22780856
yeah idk whats gonna play out now. ive seen people are pushing for lebanon to partition and for mount lebanon and the christian areas to secede. that wont happen peacefully though that's for sure also 10452 w bas not giving away an inch. im ouwet btw what r u

>>22780908
whatever dude
I was a web developer before the crisis and getting laid off
>>22780943
lol am kataeb
kifak khaye
yeah 10452 is long gone, if we get partition or federalism it would work out best

>>22777777

>>22780970
fuccc dude i hate the idea of giving up jabal amel and parts of the east, what do u think of the stuff kataeb is doing to be more modernist and steering far away from what they used to be? desu i think its the wrong direction

>>22781153
its the right one to get more sunnis and people who were with michel aoun to come back to glorious christian parties
I hate to give them out too but hezbollah grew too strong to fight off anymore

>>22780970
Ethically, do you give many fucks? Let me hear your ground rules, and maybe you'll get a literal job

>>22781478
no ethics
after all the shit the government gave me and the people, ethics in business get you broke
I would be grateful to anything

>>22781556
am OP btw
electricity went out again!

>>22781478
seriously any job I just need the money

>>22781227
yeah i guess your right that kataeb is more nonsect friendly, ive seen druze kataeb rallies before and stuff. i just dont want nadim gemayel to make faggotry legal in lebanon, sami gemayel looks like a more promising trustworthy guy, but i stick with ouwet cuz theyre more hardcore. an orange will def not be voted for next election, itll either be sami or geagea i think. who else is running?

>>22782228
sami is the leader nadim just takes it after his dad
geagea was jailed he can never run so probably sami
LF are ruthless but kataeb are smarter politically

>>22780699
>>22780712

Bitcoin is fiat currency because it has no intrinsic value, yes it is hard because it is hard capped at 21 million units. However it's value is not intrinsic and comes solely from of faith people have in the network.

As a speculative bet bitcoin is probably the trade of the century

However as a store of value it is yet to be seen if bitcoin can take this role from Gold and Silver

>>22782256
yeah kataeb plays their moves smarter and they dont have the same propaganda and things going against them like how geagea does lmao, sami is a good guy i would be happy with him as president. i hope to see kataeb return to the discipline oriented group that they were in the past
>geagea was jailed he can never run
it could possibly be argued that his jailing was by syria so it might not count but either way i think people from all sects like sami.
LF is pretty ruthless lmao

Have you tried crypto faucet sites and survey sites that pay in crypto? I used to them a few years ago and it was good beer money. There were always surveys to fill in my country not sure about Lebanon though.

>>22782404
I just use it to get money from abroad and sell it in Lebanon for cash to store
>>22782410
yeah it was by syria
hope sami gets in place
>>22782446
I wanted to find stuff like cryptogrind and such but none are active
faucets are long gone for actually making money
and r/beermoney is utterly shit
even amazon turks is not available here
fuck our governement

>>22777031
>Not a single proof
Fucking stamp or GTFO ya kalb

Buy XRP, even 20 USD may change your life.

>>22782819
based

>>22782819
wa7ad mtlak kalb
proof of what you mong?

>>22782859
I'll buy some with ETH alright

How do you actually sell bitcoin in this shithole OP?

localbitcoins or telegram groups
traders have USD cash and buy from people who want to sell

>>22782819
ok Im gonna take a stamp
you fucking dog
(kalb is dog in arabic)
still OP here but fucking electrical cuts have been going on for 20 years lol

>>22782404
sending value across the internet to anyone in the world seems pretty valuable to me. i like peter schiff too, but he's wrong when he calls bitcoin a fiat currency.

>>22783357
exactly
hence why I actually made a crowdfunding page for bitcoin because gofundme is unsupported here, didn't get much but fuck it I tried

>>22783139
Proof that you're actually lebanese and in lebanon and not just LARPing
>wa7ad mtlak kalb
Mabrouk ya5i, good enough for me. I'm broke too rn but when UNI breaks $10 I'll give u 25 USD worth of Bitcoin, would that be good enough? Or would you prefer ETH?

>>22783491
oh lol
sorry khayi
why would I LARP being Lebanese lol
here is a timestamp for a prepaid card
ya5i anything would help haha

>>22783548
>13,771 LBP
>9.09 dollars
anon i...

>>22783491
and if you're broke as well no need,
I just wanted to shed some light on biz as to the economic shithole we are in
watch the vids I posted good stuff

>>22783619
it's "official rate" of 1500 LBP
telecom, oil, bread are still subsidized
https://gulfnews.com/world/mena/total-collapse-lebanons-currency-crisis-explained-1.72966660

>>22783158
Frequent /xsg/ they have some good info to get you started.

>>22783673
will do
>>22783619
check pic

>>22783619
https://lirarate.com/
check this if you want an idea lol

>>22783626
Thanks for the info, sucks cause lebanon is beautiful and there's a lot of heritage and good food, I need to go one day

Pay attention to the price of UNI. If it hits $10 that means I sold some of my stack. When that happens, make a post with an update (with the exact same image u used for the OP so I remember) and let us know what's happening. I'll send u BTC or ETH, your choice.

P.S. FUCK JANNIES THIS IS NOT A BEGGING THREAD, LEB-ANON'S JUST GETTING PAID FOR 'FREELANCE JOURNALISM'

>>22783207
So you basically go to some random guy and send btc to his adress while he is givin you money, sounds easy to get scammed or killed

>>22783548
>it's real
shit OP, what's your btc address?

I'm in Morocco too, and I too would like to get the hell out of this shithole.
Arabic third world shitholes are not safe to live in.
Once XRP moons I'm going to get my passport ready, I'll probably go to Switzerland.

>>22777031
RSV might be coming to you eventually.

>>22783669
>>22783707
>>22783736
>7000LPB/1$
damn, at least its better than 10000

>>22783785
nah I did it 3 times
lots of trusted traders these guys have in the 100k plus aint gonna kill me for 100
plus we meet in public places and we have KYC
it's a small ass country
>>22783782
Yeah wish I had an account there
alright dude sure
and I'll be making weekly updates, on the economy and banking crisis if anyone is interested
yeah the food here is freaking delicious
I actually tried sending articles to fox or something about the amount of detailed corruption that happened here, but didnt get any replies

>>22783813
what's RSV?
>>22783797
yeah man arabic 3rd holes ain't for us anymore
>>22783794
its here >>22778154
that was me but electric cuts
ETH: 0x71A53b935448D1fa85459Bb972507E9816B8019c
BTC: 3PwntQwoHYuzcYrUJhxkF9J8QDJqH857tY

>>22783846
we are getting there lol

>>22783813
did you mean rsvp like repondez s il vous plait?

>>22783916
>what's RSV?
The stablecoin created by the Reserve project

https://reserve.org/

>>22783979
oh
damn I will check it out thanks
is that like the digital dollar Jerome Powell wanted to implement?

>>22783847
Do the jews did it to you? Or its just kind of local unresponsible monetary policy?
How can muslims, jews and christians live together and cooperate even as politicians? Why its working in Lebanon?

>>22784020
we have no jews since the civil war
irresponsible managing and basically robbing us dry
https://www.nytimes.com/2019/12/02/opinion/lebanon-protests.html
check out dan azzi a financial expert or even nassim taleb, I met him 6 months ago or so
and having a shitton of corruption and hezbollah is not doing us any good
any donations since the 1990s were "mismanaged" by the government
same names since 30 years

>>22784020
politicians cooperate because money
jews might have had a hand with the collapse but its mainly the government stealing and making followers by giving them their basic resources in exchange for loyalty
younger generations are secular but sectarianism already ravaged the country
its either pro-iran or pro-US now

>>22784070
Well this sounds very familiar to my post soviet shithole. Goodspeed to you anon and hope you gonna get out there soon.

>>22784154
godspeed brother
damn that must have been tough
you know I will I didn't study and work to rot in here

>>22783794
you lifted my hopes up dude lol

>>22784460
you should see it now, or in a couple minutes.

>>22784460
you're welcome. hopefully, one day you can get out of that shithole. or better yet, the ruling class around the world goes back to a gold standard and free market economy that doesn't hyperinflate away the savings of the average joe.

keynesian jews shall get the rope.

>>22785061
oh my fucking God
may they get the rope indeed
dude they are and free market is the way
everyone should never put all their eggs in one basket
it's what I learned thus far, and started reading on economics and finance
thank you a million I really don't know what to say brother
and when I do get out I will make a post of my story
thank you again man

>>22785061
Good man.