Ten years ago today, the infamous and mysterious Satoshi Nakamoto brought Bitcoin to the world in the wake of a worldwide financial crisis that was caused by central bankers. In this short decade, the innovation of cryptocurrency has become a viable alternative to the traditional financial systems for those who choose to use them.
Now when an economy collapses, and the official currency faces hyperinflation, as we have seen in places like Venezuela or Ukraine, there are already a number of established currencies for people to choose from.
There is no doubt that the current financial crisis in Venezuela would have been way worse if residents of the country did not have cryptocurrencies to fall back on. In fact, Dash has become so popular in the region that the government cloned the blockchain for their own fiat cryptocurrency, which has been largely ridiculed by Venezuelans and the world at large.
The socialist regime in Venezuela has implemented harsh laws against the use of crypto, obviously to prop up their own fiat currency, but people are disobeying the laws in large numbers and rejecting any currency with government or banker ties. Even merchants are refusing to comply with the laws, as the country has seen a spike in merchant adoption of Dash and Bitcoin Cash.
Long-time readers of The Dollar Vigilante newsletter (SUBSCRIBE NOW) will remember that I have been pointing to crypto as an exit strategy for struggling economies since the Cyprus bank runs of 2013 where banks were freezing their customer’s savings to pay off cronyist deals.
Blockchain tech has come a long way in the past ten years and has given many anarchists a tangible tool for peaceful revolution. Before Crypto (B.C.) many libertarians spent a lot of time begging the government to audit the fed, but After Decentralization (A.D.), we are now left with a viable alternative that allows us to live our principles while diminishing the power of the state in our lives.
If you want to learn more about crypto and rub shoulders with the mover and shakers in the industry, don't miss out on The Dollar Vigilante’s fourth annual Internationalization & Investment Summit, February 12th and 13th, 2019.
The summit will take place in the days leading up to our four-day anarcho-capitalist conference, Anarchapulco in Acapulco, Mexico. Experts in the fields of money, precious metals, stocks, investing, cryptocurrencies and internationalizing of assets and Permanent Traveler/Prior Taxpayer (PT) lifestyle will give you direct insights and interaction that you cannot get elsewhere. Included in the ticket price is a gala dinner to be held on the evening of February 12th.
You can get tickets now at https://TDVsummit.com
Happy Birthday Bitcoin! Here’s to a peaceful and prosperous future for all.
About the Author
Anarcho-Capitalist. Libertarian. Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks. Jeff Berwick is the founder of The Dollar Vigilante and host of the popular video podcast, Anarchast. Jeff is a prominent speaker at many of the world’s freedom, investment and cryptocurrency conferences including his own, Anarchapulco, as well as regularly in the media including CNBC, Bloomberg and Fox Business. Jeff also posts exclusive content daily to the new blockchain based social media network, Steemit.