At the start of the bitcoin (BTC) revolution, the idea that crypto as a whole would wrest monetary power from the state and hand it over to the people had been called utopian. But with time and a process of democratization underway, there is more agreement that this could happen. A reality whose occurrence worries the States. In recent years, they have stepped up efforts to either ban the use of crypto or regulate its use.
Bitcoin, a threat to the state
In publication made on Mediumcrypto influencer Nic Carter, showed how bitcoin (BTC) attacks head-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 to the state to control savings and spending. , etc. According to him, these elements of the monetary system keep savers and consumers of money in a slave system, which means that their finances do not really belong to them.
On the other hand, alternative currencies, BTC in particular, call into question the most precious privilege of the State, which is its ability to finance itself through inflation, indicates Carter, who continues that being very liquid and very Traded globally, BTC has the practical effect of shining a light on exchange rate manipulation.
“BTC envisions a system that enables unfettered commerce, provable-reserve free banking, makes capital controls obsolete, frees savers from state-sanctioned inflation theft, and ultimately disempowers accountability entirely. the state, by reducing its monetary toolbox”.
A face-to-face of the systems that the influencer qualifies as ” war “ with the bitcoiners who act as “dissidents”whose operations are already affecting the monetary system, including central banks.
Moreover, he explains, this justifies the bans on owning cryptos, the need expressed by states to regulate them, the criticisms of the intelligentsia dependent on the state, those of the press, of academics who benefit from the bubble of student loans guaranteed by the government or those of the economists “forced to peddle Keynesian narratives to get subsidies”.
The advent and development of the use of BTC clearly appears as a revolution that naturally attacks the interests of States and threatens their power over the monetary system.
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