Time magazine: Bitcoin can be a refuge from economic control and incapacity

For nearly ten years of existence of Bitcoin many well-known journalists who often do not even realize the value of assets on the basis of the blockchain, openly decried the cryptocurrency. Some argue that the ecosystem is teeming with criminals, others call Bitcoin Tulip mania of the 21st century. The point is that many supporters of traditional industries think BTC are useless, like thousands of other tokens. Writes Ethereumworldnews, 99Bitcoins not even bothered to collect all the articles and publications that Bitcoin is “buried” already 337 times. Moreover, the list includes only well-known publishers and resources.

However, now that Bitcoin is indeed in danger, comes to the aid of Time magazine. In column Time Ideas article appeared Director of strategy at the Human Rights Foundation Alex Gladstein. In it, he draws attention to the way people live in authoritarian regimes, as well as hyperinflation and corruption scandals in Venezuela. At the moment inflation of the Bolivar reaches one million percent, because of which these notes are suitable only for kindling fires. Human rights activist argues that while some have lost hope, far-sighted residents found solace in BTC.

Source: rfi.fr

According to Gladstein for countries with authoritarian government Bitcoin can be a valuable financial tool and centroptilum a medium of exchange. For example, in Venezuela, the BTC will help to avoid the extortionate fee of 56% from services, remittances. The money will go instantly, and wait for days and even weeks do not have to.

As noted by Gladstein, Bitcoin is just the tip of the iceberg in the fight against authoritarianism, since there are also a lot of anonymous crypto-currencies like Monero and zcash for. You can use them along with other ways to bypass centralised systems.

If we will devote more time and resources creating comfortable wallets, exchanges and best educational materials about Bitcoin, it will really help the 4 billion people who do not trust their government or do not have access to the banking system. For such people, the Bitcoin could become a real salvation.

More data look at cryptodata.

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