When Georgio Abou Gebrael first heard about bitcoin in 2016, it sounded like a scam.

But by 2019, as Lebanon plunged into a financial crisis following decades of expensive wars and bad spending decisions, a decentralized and borderless digital currency operating outside the reach of bankers and politicians sounded a lot like salvation.

Gebrael was an architect living in his hometown of Beit Mery, a village eleven miles due east of Beirut. He had lost his job and needed to figure out another way to quickly get ahold of cash. In the spring of 2020, Gebrael says, the banks were closed and locals were barred from withdrawing money from their accounts. Receiving cash via international wire transfer wasn’t a great option either, since these services would take U.S. dollars from the sender and give Lebanese pounds to the recipient at a much lower rate than market value, according to the 27-year-old.

“I would lose around half of the value,” explained Gebrael of the experience. “That’s why I was looking at bitcoin – it was a good way to get money from abroad.”

In bankrupt Lebanon, locals mine bitcoin and buy groceries with tether, as $1 is now worth 15 cents
NOV 5 2022 MacKenzie Sigalos
https://www.cnbc.com/2022/11/05/-in-bankrupt-lebanon-locals-mine-bitcoin-and-buy-groceries-with-tether.html

On Saturday, November 5, 2022 at 4:11:18 PM UTC-4, chromebook test wrote:

> In bankrupt Lebanon, locals mine bitcoin and buy groceries with tether, as $1 is now worth 15 cents
> NOV 5 2022 MacKenzie Sigalos
> https://www.cnbc.com/2022/11/05/-in-bankrupt-lebanon-locals-mine-bitcoin-and-buy-groceries-with-tether.html

Today I payed for my groceries at @PicknPay in #Bitcoin
https://twitter.com/ElleMouton/status/1587872199960141826

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