Over the past years, mainstream media has become ill-famed for bashing the world most dominant digital currency – Bitcoin (BTC). Over the relatively short lifespan of Bitcoin – ten years – many journalists have come out to openly bash Bitcoin (BTC). Most of those journalists don’t even know the value of assets based on blockchain.
Some have argued that the ecosystem of BTC is full of bad actors. Other are of the opinion that the digital currency is just the tulips of the 21st century. The fact is that many that storm from traditional realms believe that Bitcoin (BTC) and the thousands of other digital currencies in the market are worthless.
Time Magazine Comes to the Rescue of Bitcoin (BTC)
As Bitcoin (BTC) seems to be in a price pit, Time Magazine has come to its rescue. The chief strategy officer at the Human Rights Foundation – Alex Gladstein – published a piece on Time Ideas. The piece is an opinion column that entails “the leading voices in the world that provide commentary on events in society, culture, and news.
In a tweet, Alex Gladstein said: “My @TIME column on why Bitcoin matters for freedom. For billions living under authoritarianism, it can be an alternative money system and an escape from economic control. And for all of us, it preserves the peer-to-peer virtues of cash in an increasingly digital financial world.”
In the piece he released to Time Ideas, Gladstein talked about how those living under authoritarianism are faring. He specifically drew more attention to the corruption and hyperinflation scandals of Venezuela. At the moment, the Bolivars of Venezuela is now nothing more than tinder for fires, as the inflation rate is expected to hit 1,000,000 percent.
Gladstein also talked about the enormous role Bitcoin (BTC) can play in remittances. He also noted that Venezuelans can alleviate the 56 percent fees charged by remittance service providers. It could also help them shave days or even weeks of transaction times. However, this is far from the limit of Bitcoin (BTC), as the most secure transaction settlement layer in the world will become even more valuable. It will even become more valuable with the second-layer applications that are currently in development.
Bitcoin (BTC) is only the tip of the iceberg in the battle against authoritarianism, as Alex also talked about encrypted technologies, such as Tor and Signal, privacy-oriented digital currencies such as Zcash and Monero [XMR]. But Bitcoin (BTC) can still play a very powerful role in this battle against centralized oppression, according to Goldstein.
Since the release of the article, a lot of prominent digital currency fans have come out to praise the bravery and in-depth piece of Gladstein for talking about an anti-establishment movement.
Bitcoin (BTC) Price Today – BTC / USD
The digital currency market is gradually recovering after being in the red all through Thursday. The crypto market saw a sharp increase on Friday and most of the coins in the market are now trading in the green.