• Sat. May 21st, 2022

Big reset triggers Bitcoin network upgrade

The post-pandemic world has changed the way our society operates for years now. As global economies took the blows of poverty and unemployment during the pandemic, cryptocurrencies have proven to be a haven for investors who have reduced risk. It didn’t take long for these currencies to gain the attention of world powers. As the governments of countries around the world, like the United States, India, and China, consistently criminalize cryptocurrencies, the world is heading for the Big Reset to rethink our economy. This massive plan has come to our attention because of the dire effects of the pandemic on the global economy.

The Great Reset is a millennial imitation of good old communism promising a world of no-ownership, great happiness, fair opportunity, and a greener future. Experts around the world believe this reset would bring us to a society similar to that of China’s social credit system. Officials around the world are concerned about cryptocurrencies because they offer a viable alternative to the distant and utopian dream of the Big Reset. Thus, assaults on crypto powers like Bitcoin have increased in recent times. But many believe that these fortifications by world governments have only reinforced the impact of cryptocurrencies in recent times.

Anti-crypto groups have attempted to criminalize cryptocurrencies as a catalyst for illegal activity. But, in truth, cryptocurrencies are not anonymous but pseudonyms, and the details of every transaction are irreversibly stored on the blockchain. Fiat money, on the other hand, is currently one of the main catalysts for illegal activity. Despite substantial responses to such allegations, hostility to financial freedom and decentralization continues to escalate with each passing day. These allegations come mainly from a singular source, the central banks.

Another popular mechanism used against cryptocurrencies, especially Bitcoins, is the issue of sustainability and energy consumption. Such stories promoted by eminent personalities create doubts and fear in the minds of investors. However, bitcoins are a digital currency whose infrastructure can be improved and made compatible with the needs of the times.

The bill passed at the White House on July 28, 2021 proposes new deals for sectors essential to the country’s development. This $ 1.2 trillion package provides more funds and policies for sectors ranging from transportation to construction. However, there is a controversial aspect regarding cryptocurrencies. The bill appears to have intentionally kept the part on cryptocurrencies vague in order to have legal power over them. Either way, this is not the first attempt to curb the growth of cryptocurrencies through policy measures. The Biden administration passed the “domestic terrorism” bill in June, the vagueness of which could easily define anyone who has invested in cryptocurrency as a threat to the nation.

The pervasive belief among politicians and bureaucrats views cryptocurrencies as undermining the value of central reserves. On the contrary, cryptocurrencies only promote independence and transparency in transactions. Despite these oppressive situations and natural calamities, Bitcoins have been more expansive than ever over the past two years. Supported by online communities, Bitcoin forecasts are positive for the currency reaching $ 100,000 in 2022.

It is believed that the emergence of Bitcoins is a force of nature freeing us from alarmist forces. Because attempts at a cybercommunity quickly reached such a level that more people actively invested and fervently defended currency through thick and thin. With open, peer-to-peer and uncensored connections, Bitcoins have become a formidable force, even surpassing the institution of central banks.

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