Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Sunday, May 7th, and that means it's time for Long Read Sunday.

Today on Long Read Sunday, we are exploring Bitcoin around the world.

We're going to read a little bit about why the Bitcoin Central African Republic experiment failed,

an opinion on why Bitcoin could be really good for Argentina,

and hear about the latest developments from new policies in Nigeria. We start with the piece by Jonathan Buck.

Jonathan Buck is the founder of J.B. and GS mining, a German Bitcoin mining hosting company,

and this piece was originally published on Bitcoin Magazine. The piece is called The Fall of Bitcoin in the Central

African Republic. Why this legal tender experiment failed. Just a year after making Bitcoin

legal tender, the Central African Republic abandoned its plans to revitalize its country.

Why? Jonathan writes, in April 22, the Central African Republic's CAR adopted Bitcoin as legal tender,

becoming the second nation in history to do so.

However, just a year later, the nation reversed its decision.

But what are the reasons behind this failure in the CAR?

Challenging economic conditions.

The CAR, one of the poorest countries in the world,

faces numerous obstacles, such as political instability, inadequate infrastructure, and food shortages.

In the 2018 Human Development Index, CAR ranks second to last, with around 79% of its

4.7 million residents living in poverty. More than 3 million people in the country

are reported to require humanitarian assistance, while more than 85% of the population

lacks electricity. One of the significant barriers to the success of the Bitcoin project in the

...