BTC/USD $ 26712.9
|ETH/USD $ 1796.60
|LTC/USD $ 92.39
|DASH/USD $ 44.41
|DOGE/USD $ 0.07324
|FIL/USD $ 4.45
|ADA/USD $ 0.3676
|USDT/USD $ 1.00
|SHIB/USD $ 0.00000866
|HOLO/USD $ 0.003566
|BTT/USD $ 0.00000060
|WINK/USD $ 0.0001995
|YFI/USD $ 6739.04
|PAXG/USD $ 1995.93
|MKR/USD $ 630.44
|BCH/USD $ 117.30
|WBTC/USD $ 26739.6
|COMP/USD $ 35.00
|AAVE/USD $ 62.48
|ZEC/USD $ 33.10
|ICP/USD $ 5.19
|TRB/USD $ 11.87
|ETC/USD $ 18.36
|NMR/USD $ 13.50
|BAL/USD $ 5.42
|LINK/USD $ 6.62
|REP/USD $ 6.88
|UNI/USD $ 5.15
|ATOM/USD $ 10.78
|UMA/USD $ 2.12
|SNX/USD $ 2.18
|SUSHI/USD $ 0.8944
|BAND/USD $ 1.47
|EOS/USD $ 0.8928
|OMG/USD $ 0.8033
|RLC/USD $ 1.56
|MIR/USD $ 0.05600
|BNT/USD $ 0.4149
|XTZ/USD $ 0.8899
|CGLD/USD $ 1.74
|1INCH/USD $ 0.4109
|CRV/USD $ 0.8177
|KNC/USD $ 0.6039
|ENJ/USD $ 0.3523
|MATIC/USD $ 0.8601
|STORJ/USD $ 0.3080
|ZRX/USD $ 0.2240
|ALGO/USD $ 0.1679
|GRT/USD $ 0.1221
|OGN/USD $ 0.09479
|CTSI/USD $ 0.1985
|MANA/USD $ 0.5062
|BAT/USD $ 0.2212
|DAI/USD $ 1.00
|USDC/USD $ 0.9998
|REN/USD $ 0.07770
|XLM/USD $ 0.08778
|NKN/USD $ 0.09859
|OXT/USD $ 0.06790
|LRC/USD $ 0.2967
|SKL/USD $ 0.03220
|CVC/USD $ 0.08861
|SAND/USD $ 0.5290
|NU/USD $ 0.1500
|GNT/USD $ 0.00000001
|DNT/USD $ 0.02720
|ANKR/USD $ 0.02588
|LOOM/USD $ 0.05156
|AMP/USD $ 0.002960
|MANY/USD $ 0.3509
|WTK/USD $ 0.02170
|POSI/USD $ 0.02355
|WINR/USD $ 0.00003100
|DEFT/USD $ 0.00002080
|ISA/USD $ 0.0001070
|RULER/USD $ 0.006669
|SPORE/USD $ 0.9137
|DEFLCT/USD $ 0.7343
|HVE/USD $ 0.0004395
|JCB/USD $ 0.00004900
|FWC/USD $ 0.00000000008000
|FDC/USD $ 0.00000021
|YETI/USD $ 0.003856
|SMR/USD $ 0.06492
|BTC/USD $ 26712.9
ETH/USD $ 1796.60
LTC/USD $ 92.39
DASH/USD $ 44.41
DOGE/USD $ 0.07324
FIL/USD $ 4.45
ADA/USD $ 0.3676
USDT/USD $ 1.00
SHIB/USD $ 0.00000866
HOLO/USD $ 0.003566
BTT/USD $ 0.00000060
WINK/USD $ 0.0001995
YFI/USD $ 6739.04
PAXG/USD $ 1995.93
MKR/USD $ 630.44
BCH/USD $ 117.30
WBTC/USD $ 26739.6
COMP/USD $ 35.00
AAVE/USD $ 62.48
ZEC/USD $ 33.10
ICP/USD $ 5.19
TRB/USD $ 11.87
ETC/USD $ 18.36
NMR/USD $ 13.50
BAL/USD $ 5.42
LINK/USD $ 6.62
REP/USD $ 6.88
UNI/USD $ 5.15
ATOM/USD $ 10.78
UMA/USD $ 2.12
SNX/USD $ 2.18
SUSHI/USD $ 0.8944
BAND/USD $ 1.47
EOS/USD $ 0.8928
OMG/USD $ 0.8033
RLC/USD $ 1.56
MIR/USD $ 0.05600
BNT/USD $ 0.4149
XTZ/USD $ 0.8899
CGLD/USD $ 1.74
1INCH/USD $ 0.4109
CRV/USD $ 0.8177
KNC/USD $ 0.6039
ENJ/USD $ 0.3523
MATIC/USD $ 0.8601
STORJ/USD $ 0.3080
ZRX/USD $ 0.2240
ALGO/USD $ 0.1679
GRT/USD $ 0.1221
OGN/USD $ 0.09479
CTSI/USD $ 0.1985
MANA/USD $ 0.5062
BAT/USD $ 0.2212
DAI/USD $ 1.00
USDC/USD $ 0.9998
REN/USD $ 0.07770
XLM/USD $ 0.08778
NKN/USD $ 0.09859
OXT/USD $ 0.06790
LRC/USD $ 0.2967
SKL/USD $ 0.03220
CVC/USD $ 0.08861
SAND/USD $ 0.5290
NU/USD $ 0.1500
GNT/USD $ 0.00000001
DNT/USD $ 0.02720
ANKR/USD $ 0.02588
LOOM/USD $ 0.05156
AMP/USD $ 0.002960
MANY/USD $ 0.3509
WTK/USD $ 0.02170
POSI/USD $ 0.02355
WINR/USD $ 0.00003100
DEFT/USD $ 0.00002080
ISA/USD $ 0.0001070
RULER/USD $ 0.006669
SPORE/USD $ 0.9137
DEFLCT/USD $ 0.7343
HVE/USD $ 0.0004395
JCB/USD $ 0.00004900
FWC/USD $ 0.00000000008000
FDC/USD $ 0.00000021
YETI/USD $ 0.003856
SMR/USD $ 0.06492
Eva Vasileiadou 26 Oct, 2021 Bitcoin magazine Views: 321
As the world population increases (the global population passed the 7 billion mark in 2011), the percentage of people who live under a democratic regime decreases. It is estimated that if things continue as they are now, in the years’ time, those who live under democratic principles and the rule of law, will comprise merely 26% of the global population, as for now India remains democratic. A report from freedomhouse.org tells us that 2021 is the 15th year in a row that global freedom deteriorated and that authoritarian regimes, like the Chinese Communist Party, are rising. In the same report, it is mentioned that 75% of the global population lives in a country where democratic principles are deteriorating.
These significant numbers are very much a result of major countries that have abandoned democracy openly like China, or secretly like Turkey, or that are thinking about it, like India and Brazil, who's next move is anticipated. However, authoritarianism has seeped into Europe as well with countries such as Belarus and Hungary.
But what is democracy? Well, the simple definition is that democracy is the rule of the people. The word comes from Ancient Greek and it is a derivative of two words: demos, meaning the populace, the common people, and Kratos, which means power, or strength. In ancient Greece, on the hill of Pnyx in Athens, Athenians would gather to discuss the issues of the city, which was a revolutionary approach back then. There, on that hill, anyone of those thousands could take the stand and share their opinion on the current issues. Decisions were made based on the merit of each option, not merely the social standing of the idea’s presenter.
Thousands of years later, societies grew larger, and the concept of representative democracy evolved We began electing certain people to the job of carrying our opinions to the legislature, and making decisions on our behalf. Eventually, societies and populations continued to grow and people had to come up again with a way to share the same reality, to find a new way to agree. This is where television and the mass media made their appearance. People were able to learn about the reality of the rest of the world. We now relied on the news reports to tell us about the world outside of us. However, the news had to be simplified, had to be packaged in neat, disentangled, 60-minute discussion topics, so that everyone would understand, regardless of education, age, IQ, or socioeconomic status. Now, the ones making the decisions are the few, the experts who are standing between the people and reality.
Later, with the advent of the internet, some would claim that this invention would bring democracy back to the hands of the people.
With the internet also came another type of freedom — financial freedom. On January 3, 2009, the Bitcoin network came into existence. Those who hold bitcoin see it as many things. It is potential, it is hope, it is independence. But is it democratic? Do the values and principles of democracy apply to the functions of cryptocurrency, and specifically of Bitcoin's?
Andreas Antonopoulos once said during a Q&A session:
"Bitcoin is a system that decentralizes power radically. Politically many people call that cypherpunk, crypto-anarchy, other words we don't yet have. Bitcoin is redefining political and organizational systems, not just bitcoin, open public blockchains. This technology born out of the internet and expressing some of the radically egalitarian open philosophies, a free flow of information, freedom of speech, freedom of association on a transnational basis that transcends not just borders but every aspect of identity, without identity. That's a radical new political system, it started with the internet, it's now happening to money, and we don't yet have good words for it. Erm, some people might call it democracy, I don't think that's what it is."
Bitcoin offers a way out to many living in democratic and undemocratic, financially oppressive regimes. El Salvador has recently rolled out bitcoin as an official legal tender. President Nayib Bukele claims that this will help the country, since many El Salvadorans work abroad and send money back home with huge transaction costs, and almost 70% of the population do not have a bank account. However, his critics say that bitcoin’s adoption may be a distraction from the steps he has taken towards dismantling democracy. In this case, Bitcoin offers freedom, and also is potentially used as a means against it. One can't help but wonder whether the adoption of bitcoin as an official currency negates the purpose of its existence in a way.
Bitcoin, in the end, can mean a lot of different things for different people. For some, i.e., those who have been “cashing in” bitcoin has simply been a great way for them to make money. For others bitcoin represents hope for the future: a future where even if someone lives in one of the most authoritarian regimes, they hold a piece of freedom in their digital wallets. Something that cannot be controlled by the few. If the history of humankind has taught us anything, it is that all things can be used for good or evil. It always depends upon in whose hands they end up.
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