TD₿: Uncovering the Hidden Costs of the Petrodollar by Alex Gladstein
TL;DR Bitcoin offers an alternative to the Petrodollar System that's backed by oil, dictators, and the military-industrial complex.
Hey Bitcoiners,
When critics question Bitcoin’s perceived negative externalities like its energy use, criminal use, volatility, etc., they oftentimes fail to make a comparative analysis of the monetary system we currently have today, the Petrodollar System.
If you’re only focused on the costs and not the benefits of one monetary system, it’s only fair to point the same level of criticism to the current system we use today.
Luckily, Alex Gladstein did just that when he dove into all the hidden negative externalities of the Petrodollar System in this well-researched article (04/28/2021).
Once you come to understand how:
A.) The Petrodollar System is supported and maintained by violence, inequality, and oil.
B.) Bitcoin is supported and maintained by code, fairness, and electricity.
An alternative financial system like Bitcoin starts to look like a much more attractive option for the world.
Tick tock next block,
Cory Klippsten
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Quote of the Day
“Bitcoin is a way out of our current system, which is exclusionary and unjust, and tends to prey on the weak and disenfranchised while letting the corrupt Davos crowd walk free.” - Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation
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