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Alex Gladstein joins the “Bitcoin Magazine Podcast” to talk about his new e book, “Check Your Financial Privilege,” and the way Bitcoin opens the door to human rights around the globe. When speaking about Bitcoin’s detractors, Gladstein says, “Most of the critics that I’ve always been debating … they just live in this bubble of financial privilege and they can’t comprehend that Bitcoin could be useful for someone else.” His level being that folks dwelling in America can not absolutely grasp the monetary repression happening in different components of the world.
Gladstein goes on to say, “The average person in this world has money problems and not just not enough of it, but also that it doesn’t work very well.” Those of us dwelling in America have the lucky state of affairs that our forex works fairly properly and has a world demand, because it is at the moment the reserve forex of the world.
According to Gladstein, Bitcoin ranges the enjoying area. “The fun part for me is that Bitcoin just obliterates financial privilege. It just eliminates it at the base. Now, it doesn’t mean that everybody’s going to be equal. No, it’s not a redistributionary technology. It’s not some sort of Marxist creation. This is a technology that secures property rights and actually reinforces capitalism and free markets and open commerce.” Bitcoin having the identical guidelines for everyone is what makes it highly effective.
When discussing the implications of Russia settling oil contracts in bitcoin, Gladstein says, “I think that if they start accepting bitcoin for oil or something like that. That has this trickle down effect, a network effect across all the people who work for the oil company who now know this, and all of a sudden, all the people who are relatives of the people who work at the oil company, who read about this on the news.” If Putin is happy with this potential transfer, then the propaganda will unfold on the information and the result can be tons of Russians shopping for bitcoin.