Bitcoin Is Human Rights Technology

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 10 June 2022

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, NEAR and FTX US. Crypto critics have been emboldened lately. The New York Times this week published an article seemingly meant to convince people that because early bitcoin mining was concentrated, bitcoin’s ideal of decentralization was somehow compromised. The newspaper also published a Paul Krugman op-ed saying that bitcoin hadn’t found any uses in 15 years. That op-ed happened to come out on the same day that 21 human rights activists from around the world wrote an impassioned letter to U.S. politicians about why crypto had been essential to their work. - Nexo is an all-in-one platform where you can buy crypto with a bank card and earn up to 16% interest on your assets. On the platform you can also swap 300+ market pairs and borrow against your crypto from 0% APR. Sign up at nexo.io by June 30 and receive up to $150 in BTC. - NEAR is a blockchain for a world reimagined. Through simple, secure, and scalable technology, NEAR empowers millions to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future. Find out more at NEAR.org. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Vasil Dimitrov/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.0	The breakdown is sponsored by nexo.io, near an FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Thursday, June 9th, and today we are talking about why Bitcoin
0:28.2	is human rights technology. Before we get into that, however, if you are enjoying the breakdown,
0:34.4	please go subscribe to it, give it a rating, give it a review, or if you want to
0:38.1	dig deeper into the conversation, come join us on the breakers discord. You can find a link in the show
0:43.0	notes or go to bit.ly slash breakdown pod. Also a disclosure, as always, in addition to them
0:48.8	being sponsors of the show, I also work with FTX. So today we are talking FUD, so let's start by laying a few ground
0:57.5	rules on the discussion. When I say FUD, I do not mean all criticism of crypto. People, of course,
1:04.1	are welcome to their opinions even when they come to totally different conclusions than I do.
1:08.5	What's more, I think in general, a certain skepticism towards
1:11.4	big claims, particularly around how any given technology might change the world, is a totally
1:16.6	healthy disposition to have. There are also areas of critique and concern around crypto that
1:21.9	are both legitimate but can veer into fud, with the environment being maybe the best example.
1:28.9	I am not in the camp,
1:33.6	for example, of Bitcoiners who think that climate change is not an issue, I believe that it is.
1:38.7	What's more, I think, like all industries, it is completely legitimate for people to ask questions about how Bitcoin mining can become greener and less carbon intensive over time.
1:45.7	I think it's even reasonable to ask questions around incentives and ask what happens in the circumstance that carbon-intensive
1:51.0	energy sources are the cheapest. But if we have that discussion, I want to start it in good faith.
1:57.3	I want the people on the other side of the conversation to compare, for example, Bitcoin's renewable usage relative to other industries. I want the people on the other side of the conversation to compare, for example, Bitcoin's
2:02.0	renewable usage relative to other industries. I want them to acknowledge the uniqueness of focusing
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