4 reasons explaining Bitcoin to my Filipino Mother went suprisingly well

1. She probably knows someone who worked hard and saved responsibly their whole career only to have their life savings/purchasing power disseminated.

The rate of inflation in the Philippines was 50% in 1984, 23% in 1985, and 19% in 1991.. My Mum gets why 'hard money' might make sense. 

* Initial feedback I got on this point was that a maybe stronger way to demonstrate this is to look at the PHP (Philippines currency) to USD currency pairs over the years.. In 1966-70 3.90 PHP got you 1 USD, it was 11 PHP by 1981-85, by 2000-2005 it was 40 PHP to 1 USD..

2. She probably knows people who literally have to hide money under their mattress..

Only 29% of the Philippines is banked and my best guess would be due to a mix of inconvenience (eg geography) and discrimination (not allowed). My Mum gets why access for all anywhere might be good.

3. She knows sending money to PH is a pain, a country that ranks top 5 for remittances sent home from overseas workers.

Historically you might need to swap currencies twice before its in PHP along with paying the associated intermediary fees. BTC might not be the best option available but exploring it as such has her interest.

4. The Philippines was ruled under Martial Law from 1971 until 1982.

My Mum lived in the Philippines during those years and when I talk about a system that is bound by consensus rules and requires consensus agreement for any change she sits up in her chair a little.

Please also check out - 15 Points of Interest that sent me down the Bitcoin Rabbit Hole, and 6 Lessons I think Bitcoin would teach if it were a Parent.

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