Jimmy song, the Bitcoin developer has drawn everyone’s attention towards
Jimmy song, the Bitcoin developer has drawn everyone’s attention towards one of the biggest humanitarian crisis in France History, also known as Yellow Vest Protest. The protest is being carried out by the working class wearing bright yellow vests, against the government’s badly implicated Fuel Taxes.
Jimmy Song pointed out that governments monopoly over its citizens, and how mismanagement can lead to huge unrests like the current one in Paris. However, Song believes violence is never an answer.
The Bitcoin developer suggests that any nuisance or mismanagement should be handled with the right tools. In the case of Paris’s Yellow Vest protest, over increased taxes, Song suggests the use of cryptocurrency as the right tool to make the government pay for its mismanagement. Because violence against the government which has all the resources in their kitty would never help them get their terms.
Bitcoin: A Perfect tool cum ‘currency of resistance’
Song cited the example of Bitcoin as the perfect peaceful tool, to make the government listen to protestors concern. Since Bitcoin is decentralized, the government cannot hold a monopoly over it and as the number of people using the Bitcoin or cryptocurrency increases, government-owned central banks would collapse.
The only way these protestors can gain some voice of resistance is by taking the power away from the centralized institutions like bank, corporations, and industrialists controlled by the government. Jimmy says,
That’s the thing that a lot of people don’t recognize: Monetary power is the big force in the world.”
Violence is not the Answer
The outspoken Bitcoin developer says that protesting through violence is like playing in the hands of the government, as it gives them a reason to maintain a high-head. The protestors in Paris must focus on taking the financial power away from the centralized authorities, and Bitcoin is the perfect tool for a decentralized financial system.
Any amount of stones, sticks or guns won’t fetch you half of what you want, only if you could attack their power and monopoly, and see how things change.
When asked about the bearish market trends, Jimmy replied that its high-time people started looking at cryptocurrencies, be it Bitcoin or Altcoin, more than a form of digital currency.
Since the price highs make people go gaga over it and make absurd predictions and a similar routine of bashing when the bears take over, the real value of decentralization gets lost somewhere in between.
People must focus on the concept, the motive behind the formation of cryptocurrencies, if it would have been just for digital and cashless transactions, then we already had enough resources to make fiat digital.