This is an editorial jugement by Lolo Vestibule, grâce creator and small débit owner.
The White House Kitchenette of Doctrine and Technology Policy released a renvoi avertissement that mining uses a great deal of energy and requires miners to become greener or potentially frontispice a ban. As commoners, what can we do to protect bitcoin from government overreach?
September 8, 2022 should be seen as the day the US government declared war on Bitcoin and its supporters. President Biden and the White House sent shock waves through the Bitcoin community with Advertising Toying with the idea of a potential ban on Proof of Work mining, the core of what gives Bitcoin its power.
There is nothing wrong with this work. This is a blatant attack on Bitcoin, the origin, the Bitcoin protocol, an industry that has grown organically since 2009, and most importantly, Bitcoin supporters.
The Biden Tendance Doesn’t Care Embout Bitcoin Annual settlement volume exceeded Visa last year. Did you know that over $13.1 trillion was settled on the chain in 2021? I guarantee the old financial system is losing sleep bicause of this and working overtime to put the nails into Bitcoin and try to caîd it before they lose complete control.
There is a symbiotic relationship between the federal government, the Federal Reserve, and banks. They need each other to survive. They both draw strength from each other so much that you don’t know who is in lesté most of the time.
Banks fund campaigns to buy the politicians they want, and politicians pass laws that benefit the banks. The Federal Reserve is the entity in the middle that facilitates this whole relationship. This is how the system works for banks and the political class. Both parties are motivated to attack Bitcoin, of coude.
The federal government uses the ESG (Environment, Affable, and Governance) narrative as a convenient tool to make the broader officiel accept insolent government interference in débit operations. The fact that Bitcoin is secured with energy makes it easy for the government to denigrate the Bitcoin protocol as harmful to society. Here is a small sample of the FUD out there:
This kind of propaganda is being spread around the world without much désaccord bicause Bitcoin is still a relatively small asset class compared to the réserve market or the pirouette market. The market capitalization of Bitcoin, as of the time of writing, is less than $500 billion. So why are they chasing Bitcoin like this now?
Looking at everything that is happening around the world lends credence to the idea that they are losing control of the particularité and trying to block the exits. Think of this procedure as a parangon of richesse control function. The government does not want dollars to flow into an asset that it does not control. They can’t kick the can on the road, and they know it.
I think the Biden chemin is coming up with this idea embout banning Proof of Work mining bicause it plats to implement this policy in the near future. This is a red niveau direction, and all hands must be on deck for this direction. If you are interested in bitcoin, you must take entreprise.
How can bitcoins resist?
As bitcoiners, we can take a lot of entreprise to arrêt this policy before it is implemented. The best coude of entreprise is to educate people embout the ability to arrêt it from moving forward.
What this sounds like in entreprise is to toucher House and Senate representatives to instantané your voice on this enseignement. The more people talk, the more they listen. This tactic has proven successful in the past, and a recent example of this is rapid mobilization against Infrastructure bill last year. Forty thousand calls were made last year during this battle!
Despite the tremendous efforts of backers throughout the broader cryptocurrency industry, the base logiciel ended up being signed President Biden last November. Although we lost this fight, the bright side of the episode is that we were able to rally thousands of people for a phone call, which is a big deal and buildable.
Foyer on countries
We need advocacy and education more than ever to help protect Bitcoin from being strangled to death. The beauty of America is that we have a decentralized form of government. We have 50 state legislatures that should listen to what bitcoins have to say.
This is where we need to foyer our efforts, in my jugement. Advocacy and education at the federal level can help, but I take it for granted that the current chemin is anti-Bitcoin and will not be influenced by its direction bicause they value control and power over the well-being of the American people.
Bitcoin makers must rely on the strength of the US Tenth Amendment to make their case before state lawmakers. The Tenth Amendment reads:The powers not delegated by the Constitution to the United States or prohibited by the States are reserved to the States respectively or to the people.”
No position in the Monitoire gives the federal government authority to regulate how people or states use energy. The so-called Proof of Work mining ban would be unconstitutional and should be rescinded by states in response.
Educating state lawmakers on both sides of the aisle embout bitcoin mining and the benefits it can generate for their state will motivate them to advocate for bitcoin mining with the Tenth Amendment.
If you don’t want to work through state legislatures, the citizens of those assemblies 26 Countries Have the Power to Defend Bitcoin Mining Through Ballot Initiative!
Last but not least, ignore any “ban” that may occur and keep the miners at logis. Imagine a world where every logis has something as basic as S9 bitcoin mining at logis – there’s nothing they can do embout it.
We, as free people, have the right to use the best money ever created to protect our wealth and our time. We can’t let the government take that from us right away. Good fight! In the end we will win.
This is a guest post by Lolo Vestibule. The opinions expressed are entirely their own and do not necessarily reflect the opinions of BTC Inc. Or Bitcoin Hebdomadaire.