I agree but I think you miss a couple of key points here. There is a rate of currency devaluation X at which people in countries with debased currencies will jump through the hoops and pay the price (Airtm (I’m Co-Founder), Localbitcoins, Paxful) to acquire crypto (call it a total cost of Y). But this crypto acquisition is almost always done to then convert the crypto into a reliable SOV that does not suffer from crypto volatility , i.e. AirUSD (Airtm’s fiatcoin) or BTC => Fiatcoin at an exchange (e.g. USDT or the others you mention above in Section 33). More countries will hit the X threshold in the coming years (or will hit related threshold of capital and currency control/cash bank withdrawal/transfer restrictions such as in China, India, and Greece). And Y is decreasing due to better UI/UX and via a blockchain-based crypto/fiat exchange protocol (the Air Protocol — my main focus in 2019). So the BTC (any crypto really since its just being used to exchange weak fiat for strong SOV fiat) demand driver you flag is correct, but the reason is to find a safe harbor in strong fiat, not in crypto. And places like Iran and any other OFAC countries will not be able to use this flow as an escape valve to strong SOV fiat, at least not to regulated entities like Airtm. Great post BTW. Thanks.