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Bitcoin is the ‘Global Safety Net’

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#bitcoin #safety #Orwell

$BTCUSD $KNIGHTSUSD

If you are fortunate, when the going gets tough, you have people you can rely on to help you through a crisis, a safety net in bad economic and financial times can make the difference in peoples’ lives”— Paul Ebeling 

 In Y 2018 by Alex Gladstein, the chief strategy officer at the Human Rights Foundation analyzed how hyperinflation and authoritarian governments push radical alternatives to the foreground. 

He wrote: “Venezuela isn’t the only place where people can use Bitcoin as an escape valve. In Zimbabwe, Robert Mugabe printed endless amounts of cash and inflated the savings of his citizens into nothing, but his successors can’t print more bitcoin.

In China, Xi Jinping can track all of your transactions on Alipay and WePay, but he cannot orchestrate mass surveillance on all Bitcoin payments. In Russia, Vladimir Putin can target an NGO and freeze its bank account, but he can’t freeze its Bitcoin wallet.”

Today, Mr. Gladstein argues that Bitcoin will always exist as a means to exchange value. Acting as a global safety net, it may catch another group of people on the run: comfortable people, people who currently live in relatively stable countries, the very people who see no real need for Bitcoin or any decentralized currency that stretches beyond their government’s grasp.

He references a fictional future that has already arrived for hundreds of millions of people. It is the future described by George Orwell in his novel Nineteen Eighty-Four, published in 1984, where people only possess the thoughts in their minds, as everything else has been confiscated.

Mr. Gladstein has explored the intentions behind China’s social credit system, which culls financial data from social media platforms and other public portals in order to draft a detailed profile of an individual to then dictate 1’s financial options and freedoms, determining “what kind of loans you can get; what kind of internet you can get; what kind of schools your children can go to.”

Do not think this cannot happen in our country, it has and is as it spreads around the world.

Financial freedom is in DeFi and digital assets, your Bitcoins and stablecoins like KNIGHTS cannot be frozen in their wallets.

Have a happy Holiday week, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.