BREAKDOWN: Bitcoin Is Much More Than a Speculative Asset
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 16 May 2021
⏱️ 31 minutes
🧾️ Download transcript
Summary
Stories from Nigeria, Sudan and Ethiopia show how bitcoin is being used in the real world.
This episode is sponsored by Nexo.io and Bitstamp.
This week’s “Long Reads Sunday” is a reading of Alex Gladstein’s latest piece, “Check Your Financial Privilege.” It follows the stories of people in three African nations who paint a very different picture from the rampant speculation you hear about in the news.
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Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!)
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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. |
| 0:15.3 | The breakdown is sponsored by nexor.io and BitStamp and produced and distributed by CoinDess. |
| 0:22.5 | What's going on, guys? It is Sunday, May 17th, and that means it's time for Long Reads Sunday. |
| 0:29.3 | There has been a huge amount of talk of ESG as it relates to Bitcoin this week. |
| 0:36.2 | Specifically, obviously, in the case of Tesla, reversing |
| 0:39.2 | policy and no longer accepting Bitcoin payments for cars because of environmental concerns. |
| 0:46.0 | However, I think that sometimes when we talk about ESG, we forget about the S and the G. |
| 0:52.3 | And if we want a complete picture of how Bitcoin fits within this |
| 0:56.1 | ESG mindset, we can't only discuss the energy and environmental side. So today I'm reading |
| 1:02.7 | Alex Gladstein's latest piece called Check Your Financial Privilege. While those comfortable in the |
| 1:08.1 | dollar bubble deride Bitcoin, the stories of three emerging market |
| 1:11.5 | users demonstrate why it is so important. If you like this essay, go back and check out my episode |
| 1:18.1 | called Bitcoin Investing is ESG Investing. But for now, let's get to reading. In the eyes of most |
| 1:25.4 | Western elites, investors, journalists, and academics, Bitcoin rates anywhere |
| 1:29.1 | from an annoyance to a disaster. Just a few days ago, American billionaire Charlie Munger described |
| 1:33.7 | Bitcoin as disgusting and contrary to the interests of civilization. Warren Buffett, once the |
| 1:38.7 | world's richest person, sat next to Munger in obvious agreement. He has said Bitcoin is a delusion |
| 1:43.3 | and rat poison squared, |
| 1:45.0 | and is warned that he is sorry about its rise because people get their hopes up that something |
| 1:48.5 | like this is going to change their lives. Bill Gates, who also used to be the world's richest |
| 1:52.9 | person, has said Bitcoin is a greater fool-theory investment, and that he would short it if he could. |
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