in time, bitcoin academy Perhaps Jay-Z’s will be remembered as Marcy’s greatest contribution, the neighborhood that saw her grow. Believe it or not, financial literacy is the most essential resource for low-income areas and people. Does this mean that lucky residents of those areas will know right away that they are getting what they need? Of course it isn’t. Only those who are willing to put in the necessary effort will figure it out when the time comes.
Why is The Guardian, a British newspaper, reporting on the Bitcoin Academy based on Mercy’s projects? Admittedly, this is news around the world, but the article’s accusatory tone seems suspicious. In any case, in the article titled “Jay-Z’s bitcoin school met with skepticism at his former housing project: ‘I have no money to lose’,'” The Guardian goes out of its way to show that residents aren’t exactly thrilled with Bitcoin Academy.
Where have we seen this type of attack before? Oh yes, Short-lived protests in El Salvador Come to mind. In any case, let’s see what the residents of Marcy think about bitcoin.
Cold Welcome to Bitcoin Academy
The first interviewer, “58-year-old retired Myra Raspberry”, is concerned about the current bitcoin crash and leaves the entire bitcoin academy project because of it. She begins, “It’s never too late to do this when people are trying to hold on to their dollars and everything is so expensive.” Therefore, she does not know that the value of the dollar is decreasing every day due to inflation. Bitcoin Academy fixes this. Raspberry continues:
“Every time I have to go to rent, phone, TV and internet. I don’t have that kind of money to lose. If I did, I would try to invest in something that is more reliable, like last night’s basketball game. You know I’m going to win something out of this.”
Betting is not the same as investing. And the high time preference is clear, the raspberry craves immediate results. That’s not how it works in bitcoin. If she takes a few courses at the Bitcoin Academy she learns that while bitcoin is a savings technique, it is not even an investment. And the only way to lose money is to sell it at the wrong time. Or to lose your private key, but that’s a matter of another time.
“Nicea Figueroa, a 24-year-old resident who plans to work as a caretaker for people with mental disabilities,” another Marcy resident told The Guardian in an interview. She looks a bit lucky.
“Half of the people who are going to go to that class are probably going to go to the class for the $25 you get. The other half, they will probably take what they learn and forget it.”
That’s right, Miss Figueroa. Head to the Bitcoin Academy for $25, stay tuned for world-shattering savings technology promoting financial education.
The Guardian actually found one Marcy resident who views the program as a positive, with Luis Rivas saying, “I want to learn how they become millionaires, and learn what to trade and what not to trade. ” It’s okay, Mr. Rivas. Come for the easy and high expectations of high returns, stay tuned for this once in a lifetime financial instrument that can really help everyone in the world.
BTC price chart for 06/20/2022 on Gemini | Source: BTC/USD on TradingView.com
The Guardian Tried To Throw Bitcoin Under The Bus And Failed
Since the colorful article doesn’t really prove anything or talk anyone out, The Guardian goes for the throat with this little quote.
“Bitcoin Academy has suffered since it was announced last week” criticism From tech commentators, who have accused the project of hunting down the financially vulnerable. some Compare the marketing of crypto to how predatory lenders targeted people of color with subprime loans before the 2008 housing crisis.”
It’s funny that they join Vice, as if that secret source has any credibility left. Tech Crunch ArticlesHowever, it is equally disappointing. For starters, it talks about bitcoin and other cryptocurrencies as if they were one and the same thing. We can forgive this to The Guardian or Vice, but a publication specifically about technology and finance should know better. In any case, they quote “Tontzin Carmona, a fellow at Brookings Metro, who studies race, income inequality and social mobility.”
“I see cryptocurrency as part of that legacy of predatory inclusion. That access comes with a cost. They are saying you will have financial freedom, but it also means you have access to the volatility and complexity of cryptocurrency. Getting access. You’re accessing a place that’s full of scams, frauds, hacks and all kinds of things, because there’s not currently consumer protection in the form of technology.”
Obviously, Carmona is yet to realize that bitcoin and the rest of the cryptocurrencies are in completely different categories. Because of this his argument is invalid, but it is funny that he also overlooks that Bitcoin Academy offers free courses, that one of the main topics is financial literacy, and that one of the lecture topics is literally Means “how not to get scammed.” How can this guy, TechCrunch and The Guardian be against it? Well, they’ve been lied to about bitcoin. And they work for the companies that suffer the most after living in the world under the bitcoin standard.
Those companies and publications do not even suspect that when bitcoin manages to separate money and state, it will also bring infinite benefits to them. And to Mercy residents who work at the Bitcoin Academy.
Featured Image: The Bitcoin Academy logo from their site | Charts by TradingView