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The Breakdown

Narrative Watch: Bitcoin is Political

The Breakdown

Blockworks

Investing, Business

4.8806 Ratings

🗓️ 16 September 2019

⏱️ 18 minutes

🧾️ Download transcript

Summary

As this was being recorded, Facebook was being grilled by 26 central banks about their plans for Libra. Last week, France and Germany said they'd block the project and were exploring their own digital currencies. Libra head David Marcus felt enough heat to take to Twitter to defend why the project wasn't a threat to monetary sovereignty. In this Narrative Watch, we look at how the emergence of Libra and the response among the nations of the world have made it clear that, despite Marcus' protestations, cryptocurrencies are a political force. What does it mean for bitcoin? Listen to hear the discussion.  Watch: https://www.youtube.com/nathanielwhittemorecrypto

Transcript

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0:00.0

I think it's like a form of karma.

0:02.0

I think that the banks has such a crooked model that the engineers and software designers and programmers

0:10.0

was like, we're not going to fix this with a protest.

0:13.0

We're not going to fix this with a march on Wall Street.

0:17.0

We're going to fix this with technology.

0:19.0

And they created an equalizer that just just a checkmated the whole game.

0:25.0

You know, that's my view on it.

0:26.8

It's just like the energy balancing out what went wrong over there.

0:31.5

And just the disadvantage that the people were at, the is balancing that out or will in the long

0:40.3

run. It's going to take a while, but it's going to create an option. And you're not going to

0:46.3

have to go operate in that system that led to like 2008. All the banks collapsing in the

0:53.3

real estate bubble and all the malpractice

0:56.9

of power that you know what's happening in the banking industry and the central banks and all that

1:01.2

so it's like damn that was slick whoever came up with that was slick if you really peep it from a

1:08.0

political point of view you know i mean That was real effortless checkmate.

1:14.4

You know what I mean?

1:14.9

And they exited before anybody knew what was up.

1:17.5

Welcome back to another narrative watch with Masari.

1:21.1

All right.

1:21.6

So we got a cool one today.

1:24.1

That was Nipsey Hustle, RIP, tragically killed last year, hip hop artist, activist from L.A.

1:32.7

That is him talking about Bitcoin and cryptocurrency more broadly as a political force.

...

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