Bitcoin fans have developed into a political force. Is this the dawn of victory?

[Aliceooo78]

Bitcoin fans develop into a political force

Bitcoin's current rally is inseparable from the assists of the giants. On August 23, local time, the US payment giant PayPal announced the launch of a cryptocurrency service in the UK. Starting this week, it will allow UK customers to buy, hold and sell digital currencies. This action marks the first international expansion of PayPal's cryptocurrency service outside the United States, and the company first launched this type of service in the United States in October last year.

In addition to PayPal, last week United Wholesale Mortgage, the second largest mortgage lender in the United States, also announced a plan to accept bitcoin for mortgage payments, setting a precedent in the industry.

Walmart is hiring directors to develop a cryptocurrency strategy. A job advertisement on Wal-Mart’s website in mid-August showed that the company was hiring a senior director at its headquarters in Bentonville, Arkansas, who was responsible for “determining customer needs and converting them into product requirements,” and at the same time determining the relationship with cryptocurrency. Related investments and partnerships.

However, after Bitcoin's strong rebound broke through the $50,000 mark, the biggest risk facing the cryptocurrency market in the future is still regulatory issues.

If an organization composed of Bitcoin fans develops into a political force, I think that bringing new vitality and growth space to digital currency is also an important opportunity for the wider application of Bitcoin. I am looking forward to it. I even think this is a historic step. Imagine that if Bitcoin forum members (consensus) can form a community organization, will they be able to run for the president of the United States? If you want to be more exaggerated, a virtual sovereign state appears on the Internet. Just like in online games, you can even find a girlfriend, which feels amazing.

[defi-Dany]

However, after Bitcoin's strong rebound broke through the $50,000 mark, the biggest risk facing the cryptocurrency market in the future is still regulatory issues.

If an organization composed of Bitcoin fans develops into a political force, I think that bringing new vitality and growth space to digital currency is also an important opportunity for the wider application of Bitcoin. I am looking forward to it. I even think this is a historic step. Imagine that if Bitcoin forum members (consensus) can form a community organization, will they be able to run for the president of the United States? If you want to be more exaggerated, a virtual sovereign state appears on the Internet. Just like in online games, you can even find a girlfriend, which feels amazing.

I think this idea is ironic. Bitcoin is decentralized, but you said that the forum should set up a centralized organization, or even a virtual country.

[BitKongy]

I'm still a bit confused on the part on how BTC and other decentralized projects are going to be regulated, I guess we have to wait and see what the future will bring, the only thing that regulations can work on are centralised projects and crypto exchanges, or am I wrong ?

[Upgrade00]

Imagine that if Bitcoin forum members (consensus) can form a community organization, will they be able to run for the president of the United States?

Of what use would this be? Bitcoin forum is not a cult which wants to control the world or the US, members just want the freedom to be able to control their finances without interference from a third party. Being a member of the bitcoin community does not give you any political prowess.

the only thing that regulations can work on are centralised projects and crypto exchanges, or am I wrong ?

Pretty correct, if your coins are in a non custodian address the government has no influence over it. However, a lot of people do not want to go through the stress of being their own bank and would rather just allow someone else to do that for them, this is where exchanges come in and the key route for the government to control one's assets.
Government agencies can regulate exchanges and by extension regulate the assets they hold.

[Wexnident]

I don't even know why the last one was included, it's a crypto-related job advertisement, not Bitcoin specifically.

If an organization composed of Bitcoin fans develops into a political force, I think that bringing new vitality and growth space to digital currency is also an important opportunity for the wider application of Bitcoin. I am looking forward to it. I even think this is a historic step. Imagine that if Bitcoin forum members (consensus) can form a community organization, will they be able to run for the president of the United States? If you want to be more exaggerated, a virtual sovereign state appears on the Internet. Just like in online games, you can even find a girlfriend, which feels amazing.

Bitcoin isn't a cult, an organization with a clear-cut hierarchy, or whatnot, it's simply a community that advocates for the usage of Bitcoin. The community simply wants to use Bitcoin imo, and that's it. Fighting over political issues and whatnot? Why even? Could they even touch how people use the network if they really wanted to stay hidden? Centralized Exchanges are there for convenience, but if it disappears, it doesn't necessarily mean that Bitcoin would also disappear with it. And no, it doesn't feel amazing.

[Ucy]

However, after Bitcoin's strong rebound broke through the $50,000 mark, the biggest risk facing the cryptocurrency market in the future is still regulatory issues.

If an organization composed of Bitcoin fans develops into a political force, I think that bringing new vitality and growth space to digital currency is also an important opportunity for the wider application of Bitcoin. I am looking forward to it. I even think this is a historic step. Imagine that if Bitcoin forum members (consensus) can form a community organization, will they be able to run for the president of the United States? If you want to be more exaggerated, a virtual sovereign state appears on the Internet. Just like in online games, you can even find a girlfriend, which feels amazing.

This risk will likely affect those who use crypto wrongly, or in centralized manner. Bitcoin has already provided a way to mitigate such risk for individuals,, organizations etc and that is by sticking strongly to its good Principles/rules.
If you decide to use it in other ways, then you should be worried about the future.
In regards to developing into political forces, I simply think the moral aspect and the principles are working more for Bitcoin than the political forces. If you take those away it can easily fall to superior forces no matter how brilliant the political forces are.

[bryant.coleman]

I think this idea is ironic. Bitcoin is decentralized, but you said that the forum should set up a centralized organization, or even a virtual country.

A truly democratic organization can never be centralized. Because centralized means only a limited number of people or entities taking all the decisions (federal government for example). What we are talking about is a decentralized lobbying group, which will be spread out across multiple countries. I will give you a recent example. In 2018, the financial secretary of India (Subhash Chandra Garg) came up with his stupid idea of jailing anyone having possession of cryptocurrency up to 10 years. The finance minister announced about implementing this plan in 2020, and the bill was listed in the parliament website in 2021. There was a huge campaign in social media campaigns such as Twitter against this bill, and finally the saner members of the government decided not to proceed with the bill in its present form.

[Kakmakr]

I think you have a wrong idea on how Presidents gets into power.... but it is good if the public still believe that it is done through pure democratic votes. In any way, there are only 3+ million users on this forum from all over the world and many of them are Alt accounts and inactive accounts. https://prnt.sc/1qgy5k8

In the US there are about 328.2 million people and of those people ...approximately 240 million people were eligible to vote in the 2020 presidential election.... so we need about 237 million people to visit this forum and more than half of them to vote for our President. 

Good luck with that... 

[paxmao]

We certainly make noise when we want to. Sometimes however is the wrong kind of noise, as it is much more difficult to convince others if you declare yourself as a maximalist or a fan and simply deny that crypto or bitcoin may actually not be perfect or could be somehow made better.  My view is that we should always be discussing weaknesses, opportunities and improvements rather than chanting and praising. An open political debate is much better than pure propaganda and political influence.

[Hydrogen]

Communities who communicate and discuss paths to accomplish shared goals, often come up with better and more affordable solutions than had they relied on governments or corporations to do the same job.

One example of this is the slew of locally run internet ISPs and cellphone services which are known to provide better service, speed and cost to consumers in contrast to big telcos or state sponsored ISPs.

How a group of neighbors created their own Internet service

Faced with a local ISP that couldn’t provide modern broadband, Orcas Island residents designed their own network and built it themselves. The nonprofit Doe Bay Internet Users Association (DBIUA), founded by Sutton, Brems, and a few friends, now provide Internet service to a portion of the island.

Though DBIUA's Internet service is a rarity, there are similar projects elsewhere. Brooklyn Fiber in New York was founded by two brothers to sell Internet access to the community. A volunteer project called the Red Hook Initiative buys Internet service from Brooklyn Fiber in order to provide free Wi-Fi.

In Germany, residents of a small town called Löwenstedt built their own Internet service. One Ars reader who lives in Norway personally installed fiber lines to his own property.

https://arstechnica.com/information-technology/2015/11/how-a-group-of-neighbors-created-their-own-internet-service/

Its really great to see people uncover the power to overcome obstacles that they never knew they possessed. I think this is perhaps one thing cryptocurrency demographics have to offer the world. We've seen the value of how a single idea can change the world.

[tulusikhlas]

Indeed, it can be a force to give a bigger push and spread this in all directions where Bitcoin offers the right economic solution at the right time as well.
It's just that after this, we are certainly more concerned with maintaining the good name of Bitcoin, for example contributing to education to the people around and telling them that Bitcoin is not as bad as the extreme government media talk about. We should be able to provide a more open understanding and explain why we should choose Bitcoin as a future financial asset.

[Kittygalore]

It's not political force, it's just people holding hands together to fight for their rights. Bitcoin is just a binder of the long lost unity against the oligarchs. To be honest, I don't want bitcoin to be the driving force behind a political group because it shouldn't be the focus in the first place, there's more pressing issues other than that. If the community gets bigger, we will see a change in the political landscape because a lot of politicians will want some sort of favor in the community to gather votes.

[Sterbens]

Unfortunately in my country there is no political party yet that focuses on crypto currencies. We have election next month and I don't know which party to vote for. The are all pretty similar and it hard is to choose between them if you don't like any of the candidates. I wish there was a forward looking political party with a strong focus on IT and Crypto Currencies.

Political power does not mean having to form parties and be affiliated under certain groups, isn't it in politics there are no friends or foes but for the sake of the interests of the group, by amendment political parties stand under the supervision of the government then what if a country whose government does not like Bitcoin.

Broadly speaking, this forum has become a political force, where we enthusiastically contribute both intellectually in the economic, social and political fields that are public. All point to Bitcoin's freedom to become a headless political force. We are the hands in charge of providing space for those who want to be financially independent in the future.

Maybe in terms of political integrity, we are more like individuals who represent what we want to achieve. As far as I am involved in politics, it all just depends on what policies are in line with the government, because if they are not in line, politics will bring you down as an unfriendly opposition to the government system.

[The Sceptical Chymist]

I mentioned something to this effect in a couple of posts I made last month:

What we need are crypto lobbyists, people advocating for crypto freedom to policiticans.  Unless that happens, banks are going to continue to own all of them courtesy of their own lobbyists.  Aren't there some bitcoin whales doing anything of the sort?  Unless people who believe in the freedom crypto provides are denied a voice, those corrupt politicians are just going to continue with this nonsense.

This is why I mentioned the need for crypto lobbyists in one of my recent posts, bitcoiners with deep pockets and political connections they can leverage to ease this sort of shit.  Big pharma, oil companies, you name it, they have lobbyists paying off politicians left and right--and none of that is ever going to change as long as politics exists.  So why not have some bitcoin whales beating these anti-bitcoin lobbyists (banks, primarily) at their own game?  I'm not saying it'd happen overnight, but steps have to be taken, lest crypto gets regulated to the point of uselessness.

Bitcoiners do need some political power IMO.  If they did, I don't think the US infrastructure bill would have passed as is, with all of that cryptocurrency language in it.  I think there used to be some fairly powerful old-school bitcoiners that did have access to banks and politicians back in the early days (according to the book Digital Gold), but I'm not sure what the situation is now.  It also seems like governments were much more open-minded about crypto early on, and lately they're beginning to regulate it into something that it was never meant to be.  Sad.

[Bitstar_coin]

I'm still a bit confused on the part on how BTC and other decentralized projects are going to be regulated, I guess we have to wait and see what the future will bring, the only thing that regulations can work on are centralised projects and crypto exchanges, or am I wrong ?

It is very is to get them regulated if the government will it, there is nothing confusing about it, all they need to do is impose laws on all the sources to get btc and they will have the upper hand, and you know such laws can have great impact, that will cause people to panic, the government can if they really want to.

[el kaka22]

I do believe that there is a good chance we could potentially see bitcoin reach to levels where it is a political thing as well. I do not know which party will be the one against it and which one will be supporting it but I can see it happening. Like for example in USA, we could see republicans supporting it or against it, supporting because many of their donors like super wealthy people are investing into bitcoin and that is a thing for them to support, but against it because it is decentralized and against banking to begin with.

However if they pick one side, then democrats pick another side that means that we are going to see stuff that change so quickly and suddenly and it will be a reason for voting for some people.

[Fortify]

Bitcoin fans develop into a political force

Bitcoin's current rally is inseparable from the assists of the giants. On August 23, local time, the US payment giant PayPal announced the launch of a cryptocurrency service in the UK. Starting this week, it will allow UK customers to buy, hold and sell digital currencies. This action marks the first international expansion of PayPal's cryptocurrency service outside the United States, and the company first launched this type of service in the United States in October last year.

In addition to PayPal, last week United Wholesale Mortgage, the second largest mortgage lender in the United States, also announced a plan to accept bitcoin for mortgage payments, setting a precedent in the industry.

Walmart is hiring directors to develop a cryptocurrency strategy. A job advertisement on Wal-Mart’s website in mid-August showed that the company was hiring a senior director at its headquarters in Bentonville, Arkansas, who was responsible for “determining customer needs and converting them into product requirements,” and at the same time determining the relationship with cryptocurrency. Related investments and partnerships.

However, after Bitcoin's strong rebound broke through the $50,000 mark, the biggest risk facing the cryptocurrency market in the future is still regulatory issues.

If an organization composed of Bitcoin fans develops into a political force, I think that bringing new vitality and growth space to digital currency is also an important opportunity for the wider application of Bitcoin. I am looking forward to it. I even think this is a historic step. Imagine that if Bitcoin forum members (consensus) can form a community organization, will they be able to run for the president of the United States? If you want to be more exaggerated, a virtual sovereign state appears on the Internet. Just like in online games, you can even find a girlfriend, which feels amazing.

So you start off the title of your topic by proclaiming a statement and then end your message by saying that an organization needs to be created. This seems very contradictory and just wishful thinking. It's a rather bizarre concept to think of anyone creating "political force" based solely around a currency. Do you think that Bitcoin is a currency? a commodity? a speculative asset? A political party needs more policies than just a single currency unit can provide, or what you're really after is a lobbying service, which would help prop up an asset that you have probably invested in? A lobbying angle is probably slowly being set up by investment banks and financial institutions who love to have another instrument to sell to clients while earning a fat commission.

[Silberman]

However, after Bitcoin's strong rebound broke through the $50,000 mark, the biggest risk facing the cryptocurrency market in the future is still regulatory issues.

If an organization composed of Bitcoin fans develops into a political force, I think that bringing new vitality and growth space to digital currency is also an important opportunity for the wider application of Bitcoin. I am looking forward to it. I even think this is a historic step. Imagine that if Bitcoin forum members (consensus) can form a community organization, will they be able to run for the president of the United States? If you want to be more exaggerated, a virtual sovereign state appears on the Internet. Just like in online games, you can even find a girlfriend, which feels amazing.

There is nothing for us to do, we must let bitcoin do its thing and just support it by using it as we have done for years, nothing more is needed from us, I know that this sounds very passive for some people that want to go out there and somehow show that bitcoin has a lot of support but it is not needed, bitcoin is based on solid principles while fiat is not, bitcoin is winning this, now this may take a year, a decade or a century but eventually bitcoin will win and that is what matters.

[hatshepsut93]

Good luck forming a political force when there's some 50 million people worldwide. It will be a bigger failure than all those internet parties or piracy parties. Best you can hope is some Bitcoin lobbyism coming from big companies that now have a skin in the game. Even then it's a big question if they would be able to successfully resist all hostile regulations and how far they would be able to go in defending Bitcoin, or to be more precise their interests in Bitcoin, which are not always the same as community interests.

[just_Alice]

I don’t see the need for such a political force. Cryptocurrencies need to be self-sustainable and independent. It’s good that companies adopt Bitcoin, and let it go on like this for a while, let other companies and governments join as well.

A political force like the one you’ve described would mean centralized control. Eventually, it would be no better than any other country with fiat financial system. Also, how would such a community function? Who would be the leader? And what if the largest investors just gain all the power, opening the doors for corruption and control?