How bitcoin powered Nigeria’s #EndSARS protests – Bitcoin thrives in the face of authoritarianism; these Nigerian protesters are experiencing it’s power first-hand. Make no mistake, any government has the power to slow & freeze bank transactions. When times get tough and the powers that be need to exercise control – they will. People should be using these 3rd world countries as a guide to the future, because the money is broken everywhere. Governments/central banks have an extremely tight relationship with retail banks. In fact, if you’ve been paying attention, you can see they have been calling first dibs to the ‘COVID bailout money’.
Bailout money is a tax to the people. It disgusts me how much of tax payer money goes towards the banking sector. Their days were numbered as soon as Bitcoin launched. Banks are completely irrelevant in Bitcoin – there is no intermediary. Central Banks are made redundant by Bitcoin, as the money supply is not centrally planned. Bitcoin’s supply is managed by code & math; a network of users, nodes, miners, wallet, exchanges etc. Anyone who is able to run some cheap hardware & an internet connection, has the ability to cast their vote. Bitcoin will completely reshape governments – perhaps even make them redundant one day too. It will completely reshape the world.
Money is power. When you are able to manipulate, create, & freeze money whenever you want – this is an issue. Money is the underlying issue for most of the world’s problems today. Bitcoin fixes a lot of this. Maybe not so much in the short-term, but it’s a foundation for a better world. Bitcoin strips power from the most powerful and puts everyone on a much more level playing field. Yes, there will still be rich & poor people, but the divide between them will not continue to grow. The poor won’t be penalized. Given the opportunity, anyone in the world could succeed. In a Bitcoin-based-world, there will be more incentive for entrepreneurship, to build, innovated, collaborate, hard work and saving. Look at history, when there was a gold standard, all these things flourished. Bitcoin is harder & better money than gold.
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