This 4th of July is a time to reflect on how Bitcoiners have regained their own financial independence.
Part One: A Declaration of Independence
There is a lot of history that one could study when reviewing Independence Day. Some historians might refer to the 1940s or the fact that July 4 is recognized as a federal holiday; maybe barbecues or fireworks would end up in the conversations.
A military historian might delve into the American Revolution, 1776, the Continental Congress, or the original 13 colonies as a great place to start boring their grandchildren. The authors of Bitcoin have also explored this topic from various angles. I will try an alternative approach; from a status quo perspective.
One aspect that many forget to mention is that only a small marginal minority really sought complete and sovereign independence from Britain in 1775. Colonists who believed that “America” should be independent of Britain were considered as a radical group that was moving away from Britain. standard. The masses took comfort, even in tyranny.
Thomas Paine’s “common sense” enticed many other settlers to take up arms as distrust and anger grew against Britain. Paine’s work bears similarities to Satoshi Nakamoto’s white paper on Bitcoin. Both documents sought to expose the problems of the current status quo and offered an alternative solution.
The challenge was that most of the population found solace in persecution, taxation, lack of representation and authoritarian rule. Many ignore this now that the years are passing and society is moving away from the past, but how would life change if people were truly sovereign in America?
Imagine if no government interference, no bailouts, no safety nets, no welfare, no subsidies and no “free” rides were the norm? I posit that if a census were taken today, many Americans would opt for tyranny over sovereignty – as they did in the late 1700s.
I could come up with many justifications, but most of them revolve around fear of the unknown or really having to provide for themselves and those they care about with nothing more than their brains, their work hard work and their determination. Bitcoin rewards all of these human attributes with incorruptible, non-confiscable, immutable, and eternal assets.
Bitcoin’s proof-of-work model reflects the American spirit; even beyond generational hope, Bitcoin represents American courage. Bitcoin rewards hard work because it was born out of hard work, time, energy, and sacrifice. Bitcoin is determination, because it was founded on an alternative to the status quo. Bitcoin reflects Independence Day in a profound way.
Bitcoin outwits stupidity, arrogance, incompetence, laziness and greed. For individuals seeking sovereignty, there is no other alternative.
The irony is that everyone from liberals, moderates, libertarians and conservatives is represented in the Bitcoin network. Yet they are still a marginal minority in their respective communities. This common thread has brought them even closer together in some respects, regardless of their political differences. The individual “Financial Independence Day” has yet to be identified by many people (non-Bitcoiners) – let’s change that.
Part Two: Individual Sovereignty
Many individuals, organizations, businesses, and nation states own bitcoins, or at least they think they do. Unless these parties hold their private keys, they entrust guardians, many of whom failed when things happened.
Many of the readers of this article may have kept their private keys for years, while others may have recently set up a hardware wallet… and plug it in daily to make sure they understand how it works. . Others don’t hold their private keys, have their savings on a third-party exchange, or aren’t (yet) exposed to bitcoin.
I encourage Bitcoiners to see if they can check their hardware wallet’s transaction history to see when their first BTC transfer took place. The day these people took custody of their first satoshi or bitcoin is their financial independence day.
Then I would encourage families to let their loved ones know this date and, at a minimum, use this date as a reminder to discuss the meaning and importance of Bitcoin, sovereignty, hard work, determination and independence.
Yes, the 4th of July is a federal holiday where families gather, break bread and spend time together; however, the meaning is lost if, even for a brief moment, time is not spent remembering the importance and the sacrifices made on your behalf.
When people identify their family’s Financial Independence Day, I encourage them to celebrate as much as they would when they honor this country on the 4th of July. The significance of Independence Day is that individuals can be OWNERS; and what better property to own than property that is completely non-confiscable by any entity?
Maybe, if you haven’t taken custody of your bitcoin, maybe this 4th of July is a good day to start.
Happy 4th of July, and hats off to sovereign individuals with satoshis and bitcoins in cold storage.
This is a guest post by Dr. Riste Simnjanovski. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.