At the beginning of the bitcoin (BTC) revolution, the idea that crypto would completely remove monetary power from the state and give it to the people was called utopian. But with the passage of time and the process of democratization, there is more agreement that this could happen. Something that worries the States for what happened. In recent years, they have stepped up their efforts to ban or regulate the use of crypto.
Bitcoin, a threat to the state
In a publication made on Mediumthe crypto influence Nic Carter, showed how bitcoin (BTC) attacks one on the interests of the state, including the monetary system controlled by central banks.
In his text, he questions the need for inflation in a free market economy, the legitimacy of central banks to arbitrarily set the price of money and the prerogative left by the state to control savings and spending. , etc. According to him, these aspects of the monetary system keep savers and consumers of money in a slave system, meaning that their finances do not really belong to them.
On the other hand, alternative currencies, BTC in particular, call into question the most valuable privilege of the State, which is its ability to finance itself through inflation, points out Carter, who continues that it is very liquid and Very Trade in the world, BTC is at the. the practical effect of shining a light on exchange rate manipulation.
“BTC is proposing a system that enables unrestricted commerce, defensible free banking, makes capital controls obsolete, frees savers from state-sanctioned inflationary theft, and completely disables state accountability, by reducing his monetary toolbox.”.
Face to face with the systems that qualify the impact as “war” with the bitcoiners which functions as “dissidents”whose operations already affect the monetary system, including central banks.
In addition, he explains, this justifies the bans on the ownership of cryptos, the need expressed by states to control them, the criticism of institutions dependent on the state, the press, students who benefit out of the student loan bubble guaranteed by the Commission. governments or those of economists “forcing Keynesian stories to peddle to get subsidies”.
The advent and development of the use of BTC is clearly seen as a revolution that naturally attacks the interests of States and threatens their power over the monetary system.
Get a summary of the news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!
Behind the generic signature “Redaction CT” are young journalists and authors with specific profiles who wish to remain anonymous because they are connected to the ecosystem and have certain obligations.
