- Category: Blogs & Articles | Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides
- Author(s): Mark Shut
- Published: 24th September 2022 03:00
It is important for Bitcoiners to utilize existing systems of enacting change to create the best possible environment for adoption.
This is an opinion editorial by Mark Shut, a startup founder, educator, and content creator.
The conversation around economic policy and regulatory changes in addition to outdated money standards is one rooted in freedom and liberty through a new Bitcoin standard. The push for political involvement is not only necessary for freedom, but unavoidable in a revolution urging fundamental change of the monetary system.
At the forefront of this revolution are organizations dedicated to pushing Bitcoin and positive policy standards that provide greater liberties to citizens. They aim to correct inefficiencies and corruptions of the outdated monetary systems currently dominating the United States.
The whole purpose behind the creation of Bitcoin is to provide a new payment system free from central control, giving everyday people the opportunity to be involved in a decentralized financial system. The hope for this new currency is one of responsible financial systems and that begins with responsible legislation.
Lee Bratcher, president of the Texas Blockchain Council, led a conversation on the importance of political involvement, speaking with Bitcoin advocates, Bruce Fenton, Dennis Porter, and Jimmy Song on their involvement in the promotion of pro Bitcoin legislation.
The Texas Blockchain Council’s mission is to create a positive regulatory environment and become the leading jurisdiction of Bitcoin innovation.
“Bitcoin miners (are) trying to influence policymakers and regulators to adopt Bitcoin mining so they can bring in the jobs, investment, (and) innovation,” said Bratcher on “Bitcoin and the American Dream.”
Bruce Fenton, a Senate candidate for the state of New Hampshire, is a strong advocate for Bitcoin, emphasizing the importance of the separation of money and state. The current fiat standard has caused extremely high inflation rates and corrupt financial systems with many people suffering. “The root of many of the problems in the world, really, really serious problems. The root of it is bad broken money. And, you know, I go so far as to say evil. You know I think it’s really evil,” said Fenton.
Fenton believes that with new blood, America can change, bringing power and liberties back to the people. He poses the question, “What makes good money?” Bitcoin is all about economic independence, liberty and growth. This decentralized monetary system allows everyday citizens to have greater control over currency. The current corrupt fiat standard causes destruction while “Bitcoin is a sound money alternative with a limited supply.” Fenton argues that the difference is night and day.
The first step in the progression towards a society where Bitcoin is a dominant currency is through education. The Satoshi Action Fund is a non-profit educational organization whose sole purpose is to inform legislators and policy makers on the significance of Bitcoin mining, and how it can be used in support of other public policy goals. Dennis Porter, its Chief Executive Officer, believes educating policymakers on the benefits of Bitcoin mining is vital in the achievement of an innovative and productive regulatory environment.
Porter warns of the consequences when refraining from actively working to introduce legislation that supports the Bitcoin standard. He refers to states like Wyoming and Texas who are progressively adopting the Bitcoin standard, saying “But we also can see what happens when we don't get active enough. We see states like New York go the opposite direction.”
The end goal of the fund is to educate as many policymakers as possible in order to see the perks of Bitcoin mining, bringing in jobs, investment, innovation and so many more benefits. With legislators like Bruce Fenton and organizations like the Texas Blockchain Council, we can see real positive changes in our country. Bitcoin reminds us and challenges us to create an impact, bringing back freedom and liberty to the people.
The way to create an impact is to stand up for what is right and stay vocal. Jimmy Song, Bitcoin developer, educator and entrepreneur believes that one way of achieving this is through lobbying. Through lobbying, we can work towards achieving a more hands off government, which allows for natural innovation to happen.
Song educates people, and through Bitcoin, sanctifies their economic thoughts. He places emphasis on the importance of being prepared for the economic crisis coming our way. “From my perspective, we need to be ready with some concrete action steps that we can take,” says Song.
With Bitcoin and cryptocurrency, a new economic order is starting to emerge that calls for a decentralization, which directly takes power away from the state and federal governments, bringing it back to the people. We need “to show that we are a force, that we have a lot of votes, that we can, you know, affect things and sort of show our political muscle,” Song says.
In order to achieve a government that does not constrain people's liberties, it is crucial for individuals to be politically active. Through Bitcoin, people are able to effectively fight a corrupt old system based off of fiat. We must elect policy makers who fight for the people and introduce legislation that allows us to make real change.
Bitcoin allows for economic independence and job creation as a more hands off government creates natural growth and innovation. At the forefront of this battle, the leaders of these organizations are fighting to create a framework that separates state and money, giving people more control over their economic freedom. Bitcoin has large potential to create a new economic order and revolutionize the monetary system.
This is a guest post by Mark Shut. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.