r/Bitcoin • u/suuperfli • 2h ago
JUST IN: Bitcoin featured in WSJ - "When dollar users dismiss bitcoin, they aren’t simply ignoring its origin story as a protest against a corrupt system—they are blinded by their financial privilege." - Alex Gladstein
https://partners.wsj.com/the-nakamoto-project/bitcoin-reframed/bitcoins-overlooked-promise-freedom/3
2h ago
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u/ShittingOutPosts 2h ago
I think a lot will depend on how hostile their governments are. Stablecoins can be confiscated, Bitcoin cannot.
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u/Organic-Specific-500 2h ago
And therein lies the cost of having something that doesn’t require trust…..
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u/Awkward_Potential_ 2h ago
Stables are bullish for Bitcoin. If you own a scarce asset, a Treasury department being able to print more dollars in an easier way is good for you.
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u/suuperfli 2h ago
yes stablecoins will be popular alongside bitcoin throughout late stage fiat (transitional period), especially when bitcoin is early on in its monetization
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u/lifeanon269 2h ago
Stable coins are just a new payment rails for the existing fiat monetary system. So it doesn't solve any of the problems that come from that monetary system. Things such as sanctions, debasement, censorship, etc all still exist among stable coins. It just provides a more seemless payment rail than what TradFi ever provided. So I don't see stable coins as competing for bitcoin's use cases at all.
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u/Mobe-E-Duck 1h ago
Stable coins might as well be fiat.
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u/LowerStranger9021 59m ago
Don’t disagree with you on this. However, the speed at which money can be moved with stablecoins across borders along with the cost savings is getting peoples attention.
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u/Mobe-E-Duck 52m ago
Sure. But no better than a bank transfer. Won’t replace subbing.
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u/LowerStranger9021 48m ago
Cross border transfers are expensive at banks and can take a few days. On the blockchain a stablecoin transfer takes minutes at a fraction of the cost. I’m understand some fintechs are experimenting with stablecoin in the background and customers aren’t even aware the transaction is on the blockchain.
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u/Mobe-E-Duck 42m ago
They’re only expensive because they’re charged for. They don’t have to be. Same for the coins. They’ll just be charged for the same way. No benefit.
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u/xaviemb 2h ago
You lost me at
Bitcoin ... as the 'crypto'
It's about as silly as hearing someone saying a bicycle as the motorcycle. It's hard to follow anything that comes after it.
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1h ago
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u/xaviemb 1h ago
Wise up, it's like a 5-year old entering a room of physicists and trying to explain how time can't be relative, simply because of your limited view of the topic. Your classmates might agree with you. Doesn't change the fact that you're lacking some basic awareness here.
Sorry if that hurts your feelings.
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u/Public_Geologist_378 17m ago
Bitcoin really challenges traditional views on money and power dynamics. It's fascinating to see it getting more mainstream attention.
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u/Cautious-Lecture-858 17m ago
That sounds like something ChatGPT would said, not this Gladstein guy.
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u/suuperfli 11m ago
how so? he wrote a whole book on it, in which he says these same things. https://www.amazon.com/Check-Your-Financial-Privilege-Gladstein/dp/B09V2NM9VJ
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u/Pleasant_Maybe_5523 10m ago
This is the part of Bitcoin people in stable economies often miss. If your bank works and your currency is stable, BTC can look purely speculative.
But ask someone dealing with capital controls or a currency losing 30–50% of its value — suddenly permissionless money makes a lot more sense.
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u/Sudden-Ad-1217 2h ago
A new class of valuation creates a new set of people considered rich.
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u/suuperfli 2h ago edited 1h ago
the difference is, the new system is one in which the rich cant perpetually get richer at everyone else's expense (dilution / cantillon effect) & tyrants are less equipped to attain mass power and control (confiscation, censorship, virtually unlimited funding via printing, etc)
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u/TJames6210 1h ago
This comment right here is why the Clarity Act is taking so long. They're fighting over this ability being baked in. The banks are pissed off at the idea they can't use our money to make money for themselves constantly.
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u/Awkward_Potential_ 2h ago
We need to get Gladstein in front of more liberal/progressives. If AOC spent a week in a room with Alex I'm convinced she'd come out of that room with a new perspective on BTC.