Mr. Singularity | How Cryptocurrencies Can Influence the Future of Freedom @MrSingularity | Uploaded May 2021 | Updated October 2024, 2 hours ago.
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💠 How Bitcoin can play a role in human rights and offer more financial and political independence to people who use it. "This is the first time that humans have ever been able to send money around the world globally without anyone being able to stop it," he says. "Unstoppable money just didn't exist. I'm telling you that bitcoin is a groundbreaking upgrade to how humans will network," he adds. The role of technology in this crossroads is rather paradoxical; certain forms may act as a tool of influence for governments or corporations, while other forms place more power in the hands of people. The fact that it is owner-less and decentralized gives Bitcoin some uniquely resilient properties.

Bitcoin could do what the Internet did to knowledge monopolies to financial monopolies, he says. It was a critique of governments printing more money at the time of financial crises. Bitcoin is most useful in countries where citizens cannot trust the government or the banking system, he said. "Bitcoin is an escape valve for people in Venezuela," he said, "It gives them a way to store their money" and share value with relatives overseas.  Bitcoin's very presence is an insurance policy that will warn governments that the last thing the elite might regulate, namely the currency, is no longer a monopoly.

Lightning is a decentralized network that uses blockchain smart contracts to allow instant transfers between users, but transactions are settled off-blockchain. Even if Lightning Network fails, it is useful as a model for decentralized infrastructure scaling. The future of democracy relies on decentralized technology. Either way the cats out of the bag. There's no putting it back in it now.

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🎥 #Bitcoin #Lightning #Network

Sources:
⚉ https://lightning.network/

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