This is a very welcome counterpoint to a lot of the cryptocurrency hate that tends to be promoted. I think this is more along the lines of a "strong man" argument for cryptocurrency.
The article contains no real information, in fact can't even support its own title because apparently stablecoins are more attractive to those living in high inflation environments than Bitcoin.
The reader is left with no more information about "The Meaning of Bitcoin" than they entered with. No attempt is made to inform the reader about how cryptocurrency solves inflation or any of the other proposed issues with centrally-controlled currencies, besides reminding the reader that "stablecoins" exist. Well "stable" is in the name so it must be true, right? End article.
> In December 2001, Argentine President Fernando de la Rua imposed an ATM withdrawal limit of $250 per week.
> I sometimes read from people in developed countries, offended by bitcoin’s carbon emissions or by the huge amount of scams in the crypto space. ... To really get crypto, you have to have been fucked by some third party with power over your money. Be it a government, a bank, a business, or an ex-employer, it will come.
The idea that an overreaching authoritarian government will just sit there scratching their heads and admit defeat to a decentralized database if they truly perceived crypto as a threat is hilarious.
See also: https://world.hey.com/dhh/i-was-wrong-we-need-crypto-587ccb0... for a strong case of why it's important for universal human rights.
I feel like a steelman argument for Bitcoin specifically is somewhat easier to make than one for NFTs or quasi-investment share tokens, in that it’s at least not a transparent Ponzi scheme by its issuers (one might argue it is one by its current holders, though).
The problems of Bitcoin are largely different to those of stablecoins, NFTs etc.
> one might argue [bitcoin] is [a Ponzi scheme] by its current holders
Going on Twitter and saying "buy BTC!" isn't a Ponzi scheme...
I agree that problems of Bitcoin are different from other neighboring technologies, people lump them into one and tend to use the same arguments (energy usage, scams, ponzi schemes, illegitimate, crime only use case, etc.).
This article at least starts to make the argument of why something like Bitcoin is needed and how it solves real world problems.