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  • Writer's pictureRodney Alkins

Bitcoin has Returned to Barbados

It is a Huge Moment for the People of Barbados!

Bitcoin is back baby! right here in Barbados now you can go get your Bitcoin from You remember in only recent history there was the original Barbadian bitcoin currency exchange which closed up shop a few years ago. There is an official technical jargon as to why they closed the exchange citing something about strategic direction but we all know what happened! Simply put, the commercial banks were not having it. They wanted out and that is exactly what happened! However, you cannot stop the advancement of cryptocurrency. Cryptocurrency speaks of freedom, equity and justice for all, which is contrastingly different from the strategic mandate of the the commercial banks which is to profit from debt. The cost of doing business with local commercial banks is horrendous, further more the excessive banks charges or as the banks call it, Account maintenance fees are around 2.50 USD to 8.00USd per month depending on which bank you go to. In any event it is ludicrous and needs to be stopped. At some banks those people who have less than USd150.00 on their account will see it charged away until there is nothing. Another banks will continue to charge you fees of USD2.50 per month even if there is nothing on the account. Tell me, does it seem to anyone reading this blog that the bank cares about whether you can eat or not?

Enter Bitcoin

Anyway enough about the banks and their tyranny. Bitcoin is the grandfather of all other cryptocurrencies that exist today and by far it is the most popular. In the Barbadian situation not too many people know about cryptocurrency and blockchain. However, I believe that if Barbados is to survive beyond its colonial lifestyle then it needs to embrace the ever expanding technologies of tomorrow. Well, good luck with that in our heavily subsidized plantation system. Cryptocurrency promotes freedom, autonomy and new opportunities that were not previously available to the average person and at a fraction of the cost when compared to the commercial banks. Cryptocurrency signals the end of plantocracy and colonial economics if it is allowed to take root. This is a major problem for the traditionalists as they will be left behind because they refuse to embrace and enjoin the new economy. Now that Bitcoin is back we will be able to take some of our money from the bank and enter into investments that have been exclusively accessible by the wealthy, financiers, accountants and lawyers. This is what is needed to lift the economy of Barbados not colonial tourism. The people of Barbados need a change like that of El Salvador and their president caught the vision and was brave enought to run with it. Bitcoin will create opportunities for Salvadorians that were not previously there before. I know it.

Accessing Bitcoin In Barbados

Previously we had to jump through hoops of fire to access bitcoin and we are still doing so until is fully open. However, The commercial banks went as far as to block our VISA and MASTER cards from purchasing cryptocurrency. The lack of knowledge breeds ignorance. How are they blocking our debit cards, not even credit cards, stopping us from spending our own money where and how we like. Why not stop us from buying foods that are bad for our health? Well, that is over, the banks are archaic and draconian and bitcoin offers us an alternative of a more humane approach. Get ready to head over to Lanterns Mall to purchase your bitcoin. It will be a cash only transaction, same as before when was around . This may not be the most efficient way of obtaining bitcoin, but it is certainly a more cost effective way that fighting with the commercial bank over your right to use your debit card how you see fit.

Investing with Bitcoin

The people of Barbados are not usually the investing type but that is only because they have not been taught how to. Only the 1% at the top of the food know about investing or have connections to investing and they keep it to themselves. I understand the need to maintain status quo and to maintain and increase wealth but when the unemployment and poverty levels rise to such an extent that people are struggling to eat then there is a need to move away from the status quo. There is a need to be human and not just consider your own bottom line. If the people of Barbados can learn about investing and also HODLing cryptocurrencies the general standard of living in Barbados will improve. We are currently on a slippery slope with the IMF and the constant borrowing of funds to maintain short term economic activity with the absense of tourism and the prevalence of COVID19. We should let our fingers do the walking this time around. Stay Safe and Invest in cryptocurrencies.

My Final Thoughts

I am glad Bitcoin is back in Barbados. I am glad that we can free buy it without obstruction. I want the people of Barbados to know that Bitcoin is a store of wealth just like or better than gold. A bitcoin is currently worth around 90,000 Barbados dollars and you can buy a piece of it or use it to buy other upcoming cryptocurrencies. If you want to know more about cryptocurrencies and you are from Barbados you can message me on whatsapp or call me. Have a great weekend.

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