Forced Creativity: Why Bitcoin Thrives in Former Socialist States

Miha Grčar, Head of Business Development at Bitstamp and a veteran from the company’s early days, explained how Bitcoin and Bitstamp took off in Slovenia. In fact, according to Coinmap.org, there are now more than 250 businesses accepting Bitcoin in Ljubljana today — disproportionately high for a city with a population of only 300,000 people.

One: crypto business pioneers, like SatoshiLabs or General Bytes, companies that are the world’s biggest producers of Bitcoin wallets and ATMs, are located in Prague. Two: the crypto community in Prague was boosted by Paralelní Polis and the regular weekly Bitcoin events, yearly HCPP congress, etc.” Quite clearly, Prague benefited from having a perfect blend of: a passionate group of freedom-obsessed people, a high level of technical competence, and a dedicated safe venue where people could gather, share ideas, and further propagate the community.

Timeline of Bitcoin