People use cryptocurrencies for many different things, legal and illegal. However, Jimmy Song says that Bitcoin can be used to promote peaceful revolutions.
Bitcoin as a mean of peace
Jimmy Song is a bitcoin educator, entrepreneur and core developer of the Bitcoin Blockchain. He has also recently released his new book, called “Programming Bitcoin.” In an interview with RT’s business host Max Keiser, Song said that there would be a lot of “cool” things happening to Bitcoin during 2019. One of them is the lightning network that will among other things allow instant transactions.
Keiser suggested that bitcoin is a currency of resistance. Economic models around the world are not working as well as they should, and the result is revolutions. In France, the Yellow Vests are roaming the streets because of raised taxes and are violently fighting the government. Yellow vest activists are now urging French citizens to empty their bank accounts. They want to spark a massive run on French banks in their fight with the government. Interestingly, people in France wore yellow vests with bitcoin on the back. Song argues that the biggest thing bitcoin brings the ability to decentralise monetary power. He says:
“The biggest thing bitcoin brings the decentralisation of monetary power. “If you have government and big business get together, they usually get what they want.”
Can people take power back with bitcoin?
Song says that the revolutions we are seeing are aiming at change who is in charge. However, what they should be doing is taking power back for themselves. It starts with bitcoin. If people would realise it, then the violence would not be necessary because they could take power away without the violence. It would be possible to change things for the better without putting lives on the line and risking jail time. It is possible to have “peaceful revolutions” with bitcoin. He stated:
“When you’re talking about governance, and you’re talking about the user winning out over the monoliths, the corporations, the plutocrats….It seems as though bitcoin is the currency of resistance. Bitcoin should be the currency for all these global movements to unify.”
Jimmy also states that investors should not focus on the volatility short term. The developers are in it for the long term and are building a different kind of applications that people can use. He does not care about the price going up and down even though it is difficult not to.
“I think [BTC] is a Cypherpunk ideal. It is not necessarily about what the price is at the moment,” Song says. “The people that are working on it believe it in long-term. We’re in it for the long haul.” Song says if anything, bear markets are better for productivity than bull runs.”
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Dennis Sahlström has been trading and investing since 2012 and has for the last two years been consistently profitable. He has been in the crypto- and blockchain space since the middle of 2017 and realized its potential for our world, not least how it is transforming the society we live in. He has now created an education platform, together with the wealth coach Marcus the Maria. They teach regular people how to invest and trade in the cryptocurrency market with proven strategies. If you want to learn more and feel like its time to get into this new asset class, download our free book and register to the next live training to get your future in cryptocurrencies started.