The Bitcoin Dilemma: Can it help democracies?

The Bitcoin Dilemma: Can it help democracies?

Alex Gladstein, a proponent of bitcoin and the chief strategic officer of the Human Rights Foundation, claims that by restricting government influence over its citizens, bitcoin restores damaged democracies and combats governmental corruption. For the best sports betting casinos of March 2023, make sure to visit CasinoDaddy’s pages!

Gladstein stated that the decentralized character of may serve as a barrier against tyranny and corruption in an interview on February 20.

“Where the democracies have broken down, I do think it’s very clearly related to fiat currency, and I do think that Bitcoin fixes this in a way,” he remarked.

Since 2007, Gladstein has worked as the non-profit organization’s chief strategy officer. The organization is committed to advancing and defending human rights everywhere, but especially in nations where its citizens are subject to “authoritarian rule.” Casino

According to his profile, Gladstein also presents talks on Bitcoin and the state of money at Singularity University gatherings.

Gladstein stated in the interview that a tyrannical regime frequently needs censorship, confiscation, and restricted financial markets and that Bitcoin represents free speech, property rights, and open capital markets, all of which are stifling to a tyrannical administration. He then added to his controversial comments:

“This is what China and Russia need to survive they need censorship, they need close capital markets and they need confiscation, Bitcoin makes it really hard for governments to impose those things on their people.”

In the past, both China and Russia have been opposed to cryptocurrency. In 2021, the Chinese government effectively outlawed all cryptocurrency transactions; however, there have been rumors that attitude may be changing in light of Hong Kong’s impending crypto licensing framework.

The usage of cryptocurrency for payment purposes will be legally outlawed in 2020 under Russia’s significant crypto law, “On Digital Financial Assets.” Although local cryptocurrency exchanges are still unregulated, the law does not forbid Russians from investing in cryptocurrencies.

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“I don’t see these dictatorial powers doing well in a Bitcoin standard; I think it becomes really hard for them,” he added to his comments.

A February 2022 analysis by blockchain analytics company Elliptic found that avoiding traditional accounts being closed by financial institutions was one of the main motivations for adopting blockchain-based fundraising.

In the upcoming years, according to Gladstein, there will be a lot more “trigger moments” when consumers have “technical and liquidity difficulty with traditional financial services,” which will cause more people to switch to BTC as a substitute.

“If there’s a conflict or a breakdown in trade or communications, you’re just gonna see a whole hell of a lot of problems, and every single one of those is like a moment that’s gonna mint a new Bitcoiner out of necessity,” he concluded.

Author: Bobby Parker