With all that has been happening in Canada lately allows yet again another opportunity to explain why Bitcoin fixes this.
(Art created by Longque Chen)
"Bitcoin fixes this" is a phrase that gets thrown around quite often. I will admit bitcoin does not fix everything neither does it intend to. What it does 'best' is why it is a solution to many issues. A decentralized immutable global monetary network secured by the consensus.
Recently we saw GoFundMe censor user's funds being sent to the cause of their choice! Over $8m of funds were withheld from being donated and now users are given until Feb 19th to request a refund. At first hand we are seeing centralized organizations censor user's funds.
In retaliation to the censored funds, we saw protesters organize donations to be sent via Tallycoin app which is built on top of the bitcoin network. Donators had the ability to send satoshi's through an immutable network knowing first hand they will not be censored
The Canadian Government's dystopian response to this was to freeze funds of all connected users for both currencies and digital assets. this kind of widespread censorship to tax-paying citizens is that of an authoritarian response, but don't forget, this could happen anywhere.
(If you're not familiar, Referring to the authoritarian regime from "V For Vendetta)
Societies are highly complex in their structure but at the foundation of all societies are hard working individuals. One would assume individuals would be able to spend their money as they see fit, sadly this is not the case in the world we live in. Not in it's current state.
Questions are now arising such as
"What are true property rights?"
"How do we combat censorship?"
"Why can't they stop bitcoin transactions?"
"If I'm not in control who is?"
"What is money?"
These are the questions that eventually lead one to Bitcoin.
One of Bitcoin's most crucial utilities comes from it's design. It is truly decentralized which makes it both highly secure and highly immutable due to their not being a central authority to make all the decisions. These 'decisions' are engraved in code.
These 'decisions' are written in code only to be executed when predefined conditions are met, this allows for full inclusivity to a global monetary network. This allows an honest network where users can stay fully anonymous, all due to trust guarantees not trust assumptions.
I think it's about time people start waking up to the philosophical aspect of bitcoin which leads to quite a paradigm shift in thought. No longer are we forced to trust third parties, governments, and central banks. We now have an immutable global network at our disposal.
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