Sunday, November 28

Bitcoin as sovereign and revolutionary money at bitconf 2021

From the Presidente Theater, which is located in the city of San Salvador, El Salvador began on the first day of the conferences of theBITconf 2021. The first panel was dedicated to talking about Bitcoin as sovereign and revolutionary money. Franco Daniel Amati, Diego Gutiérrez, Gabriel Kurman and Daniel Alos participated in it.

They began their presentation by expressing that Bitcoin is the most perfect version of sovereign money, which has been had in the history of humanity. They consider that it is a revolution that still does not know where it will go and how it will empower the citizens of the planet.

They also highlighted that, while this sovereign system grows and matures, the fiduciary system, imposed by governments, generating devaluations is constantly collapsing in our eyes. In this sense, they highlighted that the fact that El Salvador has adopted Bitcoin as legal tender gives a benefit to Salvadorans. Because it brings them closer and closer to this technology, making them financially free.

From left to right: Diego Gutierrez, Franco Daniel Amati, Daniel Alos and Gabriel Kurman

Bitcoin is a paradigm shift

They agreed that Bitcoin is a paradigm shift that has been revolutionizing the world, being a milestone in the financial system. For Daniel Alos, Bitcoin is the most important discovery of humanity, and he compared it to the discovery of fire by man in prehistory.

For Alos, “Bitcoin is a natural force, attracting everything,” he said. Likewise, he considers that it must be realized that the market’s leading cryptocurrency is the best form of money ever invented and that it will last for centuries.

For his part, Franco Amati, bitcoiner, highlighted that Bitcoin is resistant to censorship. Since it gives that possibility of having money without it being controlled by any government. Regardless of where we are, with Bitcoin you have the power and ability to transport this cryptocurrency anywhere in the world. It has incredible portability and that makes it more sovereign.

For Diego Gutiérrez, from IOV Labs, highlighted that since governments interceded with the countries’ monetary policies, the financial freedom of their individuals has been affected. For this reason, he mentioned that Bitcoin gives human value that possibility of exchanging value without intermediaries. Consider Bitcoin a non-violent revolution that will allow human beings to preserve the value we generate without anyone else being able to control it.

Bitcoin philosophy

During the panel at Bitconf 2021, the moderator asked them what they believed to be the philosophy behind Satoshi Nakamoto to create Bitcoin. In response to this, Gutiérrez for example, mentioned that on a personal level he thinks that Bitcoin does not hide another ideology and philosophy other than freedom. He also commented on his thoughts regarding Nakamoto’s hidden identity, expressing that according to his appreciations it should not be revealed. Since one of the greatest values ​​that Bitcoin has is precisely being a pseudonym. For him, Bitcoin is neutral, it does not have a political sign. However, he mentioned that Satoshi used crypto to empower the individual before the circles of power.

For his part, Franco, expressed that although at the beginning of the creation of Bitcoin, the people who were most interested in the cryptocurrency were related to the technological world, it later opened up. Today there are from libertarians to communists who support Bitcoin.

BTC has no political ideology

So, you also view Bitcoin in a neutral light, and consider that it has no political ideology. In this sense, he highlighted the position and mistake that many people had in El Salvador, after the recent law that adopted Bitcoin as legal tender. Therefore, he recommended to the people who will investigate to realize that BTC is neutral and has no political ideology. “It is designed to bring personal monetary sovereignty,” he commented.

But, he added that Satoshi before publishing the first block on the Bitcoin blockchain knew what he wanted to show the world. Since in Franco’s appreciations, he did it at a tense moment. Right after a headline appeared in The New York Times that dealt with the second bank sabotage, it was just at that moment, a few days later, that the first block publication was made on the Bitcoin blockchain. Although he does not know whether to link it to a political fact, he does consider that Satoshi would have waited for this moment of vulnerability to show this new financial disruption.

Precisely, because he was trying to bring to the world something that would free them from what banks, companies, and the state are used to doing. Known for bad deals, where money was lost. And, that later, the citizenship had to pay for or finance those bad businesses.

Finally, they shared some insights to close the presentation at the BITconf 2021 saying that it is important for society to get involved with this technology to build a better world. Highlighting that Bitcoin is a tool and that by itself it will not change the world, if society does not activate the corresponding sense of responsibility. Without it, its citizens will not have Bitcoin as sovereign money.

They added that they hope that for the next year of the BITconf 2022 the venue of this event will be held in the next country that adopts Bitcoin as legal tender.

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