Bitcoin is a tool against oppression

For Peter McCormack, Bitcoin has become a tool of the world’s citizens against government oppression.

The usefulness of Bitcoin and crypto-currencies has long been discussed worldwide. The debate usually focuses on the qualities of cryptoactives as economic and financial instruments. However, cryptoworld can also play a role as a tool to fight against authoritarian governments. As Peter McCormack comments in today’s Tweet, where he claims that Bitcoin Revolution is a tool against oppression:

Tell that to people in Nigeria and Belarus who are using #Bitcoin to survive while protesting against oppressive regimes.

You are full of Schiff!
– Peter McCormack (@PeterMcCormack) January 14, 2021

Bitcoin Hashrate Sets New Record

A tool against authoritarianism

Democracy is in crisis, and that is a reality that touches absolutely all of us, no matter what country we are in. Whether it is with spectacular events like the attack on the Capitol in the United States, or more subtle moves by authoritarian governments to undermine democratic institutions. It is clear that this is a complicated time for liberal democracy.

In this context, it is hard to imagine what role Bitcoin and cryptomonies can play. After all, BTC has usually been presented as a challenge against fiat money, and not exactly as a tool to fight for democracy.

However, this view can be misleading. For, at the end of the day, the decentralized nature of cryptomonies makes them fertile ground for use in the fight against authoritarian governments.

Because, the Blockchain technology places cryptoactives in a terrain impossible to manipulate by any government. This is why Bitcoin has become a tool against oppression in countries like Belarus, as Peter McCormack commented through his Twitter account.

“Tell that to the people in Nigeria and Belarus who use Bitcoin to survive while protesting oppressive regimes.

Thus, in the face of attempts by authoritarian governments around the world to subjugate the citizenry. People are using Bitcoin not only as a means to save, but as a tool for survival. Thanks to Bitcoin, activists around the world are confronting oppression, using Blockchain technology, in places as diverse as Nigeria, Belarus, and even Venezuela.


Crypto Market Cap komt binnen een steenworp afstand van $ 1 biljoen

Op 3 januari 2021 bereikte de cryptomarkt een nieuwe hoogste waardering ooit.

Met $ 910 miljard kwam de activaklasse in digitale valuta dicht bij de benchmark van $ 1 biljoen.

De dominantie van Bitcoin is ook gestegen naar het hoogste punt in drie jaar en komt uit op 68%

Wil meer weten? Word lid van onze Telegram Group en ontvang handelssignalen, een gratis handelscursus en dagelijkse communicatie met cryptofans!

The Trust Project is een internationaal consortium van nieuwsorganisaties die standaarden voor transparantie opstellen.

Op 3 januari 2021 steeg de cumulatieve marktkapitalisatie van alle crypto’s tot maar liefst $ 913 miljard, een nieuw record ooit.

Voor het eerst in bijna drie jaar kwam de crypto-activaklasse in de buurt van een waardering van $ 1 biljoen of hoger. Het vorige record voor de totale waardering van de cryptocurrency-markt werd behaald tegen het begin van 2018.

Met een top van ongeveer $ 830 miljard in die tijd, kreeg de activaklasse geen kans om de benchmark te overschrijden voordat ze een enorme correctie onderging tussen 2018 en 2020. Een sterke recente heropleving heeft echter de weg geëffend voor de cryptomarkt om eindelijk een waardering van $ 1 biljoen.

Bitcoin nu ‘s werelds negende meest waardevolle verhandelde activa

Volgens AssetDash, een website die ‘s werelds verhandelbare activa rangschikt op basis van marktkapitalisatie, is Bitcoin momenteel het negende meest waardevolle bezit ter wereld.

De cryptocurrency kwam onlangs in de top 10 en overtrof slechts een paar dagen geleden Berkshire Hathaway en Taiwan Semiconductor Manufacturing (TSMC). Met ongeveer $ 600 miljard is Bitcoin nu op een steenworp afstand van het inhalen van zelfs Tesla en Alibaba.

Met name Berkshire Hathaway wordt geleid door Warren Buffett – een beroemde investeerder die Bitcoin en de cryptocurrency-markt bij verschillende gelegenheden heeft afgewezen. In één geval, in 2018, ging de Amerikaanse zakenmagnaat zelfs zo ver dat hij het digitale activum ‘ rattengif in het kwadraat ‘ noemde .


Stellar (XLM) rocket takes off and climbs +130% in 24 hours

Long correlated with the price of XRP, the XLM of the Stellar blockchain has just taken off and entered the top 10 of the most capitalized cryptocurrencies. A substantial bullish movement fueled by the woes of its rival cryptocurrency XRP?

XLM takes off

Due to its technical similarities with XRP of Ripple , the XLM of blockchain Stellar has long been correlated with the asset. In addition, the Stellar network is a fork of Bitcoin Bank reviews created in 2014 under the leadership of its founders Jed McCaled , who is also the co-founder of Ripple.

For several years now, the prices of the two assets have known a significant correlation. But recent events have upset this peculiarity, allowing Stellar to take off.

At the time of writing, XLM is exploding upwards and posting a spectacular increase of over 150% on a weekly basis . How is such a progression explained?

On December 22, the SEC filed a lawsuit against Ripple for illegally selling the equivalent of $ 1.3 billion in XRP. Since then, the price of XRP has been steadily falling and has been halved until it stabilizes around $ 0.25. Many believe that a migration of funds from XRP to XLM then began .

Additionally, the Stellar network and XLM itself appear to be taking advantage of the recent decision by an American institution to allow all banking institutions in the United States to use public blockchains and the stablecoins they host to make payments.

Indeed, Stellar already hosts several stablecoins on its network, such as the famous USDC or the EURB, a stablecoin issued by a German bank

In addition, the XLM reacted quickly after Stellar’s announcement earlier this week that the Ukrainian government had selected its teams to help it create a central bank digital currency.

Since then, Ukraine has downplayed Stellar in this project, and said the XLM would not play any role in the creation of this digital currency. However, this has not stopped investors from rushing into cryptocurrency.

We must not forget that this is happening when the market is experiencing a substantial euphoric phase. Besides the fundamental aspect of Stellar, the technical plan was particularly favorable to such a rise.