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Bitcoin was created by Satoshi Nakamoto in late 2008 to offer all humans an exit strategy from the current flawed, and not fixable, monetary and financial system. Bitcoin puts the power of money back in your hands by allowing you to take full advantage of the fruits of your labor. With the king of digital currency, you can protect your money from the ravages of monetary inflation in a way that is resistant to censorship.
By taking control of money out of the hands of the Nations and returning it to the people, Bitcoin is a weapon for peace, not war. Indeed, it will not have escaped your attention that it is the possibility of printing money out of thin air ad infinitum that promotes the arms race and endless wars.
With hard money like Bitcoin as the world's reserve currency, central banks would no longer be able to finance the wars waged by governments around the world. As such, Bitcoin has the potential to stabilize the world by pushing governments to employ diplomacy rather than give in to the violence of war.
While the people's currency is a neutral and apolitical weapon of peace, some would like to politicize it amid the current conflict between Ukraine and Russia. The first lessons that emerge from the role of Bitcoin in such a conflict are that both sides have a vested interest. The attacked camp to continue to fight, and the attacking camp to protect itself from economic and financial sanctions taken by the other countries to make it stop its war.
As I often say, the problem is not the Bitcoin technology itself, but its use by the wrong people. However, Bitcoin does not differentiate between good and bad people, since it offers the same opportunities to all its users.
And that is a good thing!
Thus, the request that the vice-price minister of Ukraine Mykhailo Fedorov just made does not seem relevant to me at all. He asked all cryptocurrency exchange platforms to freeze the accounts of Russian and Belarusian users, whether they are politicians or ordinary citizens:
Although the situation in Ukraine is dramatic, I find this request dangerous, because it is in the direction of the authoritarian drift that we saw in Canada at the beginning of 2022 with the Freedom Convoy. The first thing here is that these exchange platforms cannot act on their own by arbitrarily taking such a measure. They would risk sanctions afterward.
Secondly, if we go as far as that, why not freeze the cryptocurrency assets stored on exchange platforms of all American citizens when America unilaterally goes to war against a country? The same issue is at stake here.
Just because Vladimir Putin and his regime are waging war in Ukraine does not mean that the Russian people should pay. The Russian people are more than divided concerning this war. The economic and financial sanctions will hit the Russian citizens first. And this is where Bitcoin and cryptocurrencies should help them to better protect themselves from the flaws of the banking system. Russian banks will freeze their assets and limit withdrawals. This is where Bitcoin will have a huge role to play.
This role will be essential whether you are Ukrainian or Russian.
Bitcoin is anti-war. It's there to help people do that to the flaws in the current system, whether they are economic or political. For those who have not yet done so, it is therefore essential to take possession of their private keys to protect themselves from such demands that are bound to come sooner or later from America or the European Union.
In the face of the economic and financial sanctions that will continue to be taken against Russia by America, which dictates the game within the current system, Bitcoin will prove to be our best alternative weapon of protection as humans. This accelerating awareness of Bitcoin's usefulness to the world will have a huge impact on its adoption in the months to come
Bitcoin will be seen more than ever for what it is: an exit strategy for humans who no longer want a debt-based system that enslaves them.
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