Biden administration targets bitcoin mining in new report
- The Office of Science and Technology Policy at the White House published
- Report warns that mining
- Uses a great deal of energy
What can we do to
defend bitcoin against governmental intrusion?
8 September 2022, should be seen as the day the US government declared war on bitcoin and its supporters.
President Biden and the White House sent shockwaves through the bitcoin community with a proclamation manipulating the idea of a possible ban on mining to prove work, which is at the core of what gives bitcoin its power.
There is no error in this procedure
This is a blatant attack on bitcoin origin, bitcoin protocol, an industry that has grown organically since 2009 and, most importantly, bitcoin supporters.
The Biden administration is not interested in exceeding the size of Bitcoin Visa's annual settlement last year.
Did you know that
more than $13.1 trillion was settled in a series in 2021?
I guarantee that the old financial system loses sleep because of this and works overtime to put up barriers to bitcoin and try to kill them before they lose full control.
Banks, the Federal Reserve, and the federal government all depend on one another in order to survive.
They both draw such strength from each other that you don't know who's responsible most of the time.
Banks fund campaigns to
buy the politicians they want
and politicians pass laws that benefit banks.
- The Fed is the entity in the middle that facilitates this whole relationship.
- This is how the system works with banks and the political class.
- Both parties are motivated to attack bitcoin, of course.
The federal government uses the ESG novel (Environment, Social and Governance)
as an appropriate tool to make the wider public accept the government's arrogant intervention in business operations.
The fact that bitcoin is energy-secure makes it easier for the government to discredit bitcoin protocol as harmful to society.
This kind of propaganda is being put out in the world without much regression because bitcoin is still a relatively small asset class compared to the stock market or bond market.
The market value of bitcoin
at the time of writing, is less than $500 billion
so why are they going after bitcoin like this now?
Considering everything that is happening around the world lends credence to the idea that they are losing control of the situation and trying to block the exits.
- Think about this procedure
- As a kind of capital control.
- The government doesn't want dollars flowing.
- To an asset they don't control.
I think the Biden administration is putting forward this idea of a mining ban to prove action because they plan to implement this policy in the near future.
How can BITCOINERS be resistant?
As bitcoin customers, we can take a lot of action to stop this policy before it is implemented. The best course of action is to educate people about the ability to prevent them from moving forward.
Despite courageous efforts by supporters across the broader cryptocurrency industry, the infrastructure package ended up being signed by President Biden last November.
Although we lost this fight, the bright side of the loop is that we were able to mobilize thousands of people to make a phone call, which is a big problem.
Focus on States :
We need advocacy and education more than ever to help protect bitcoin from strangulation to death, in America there is a decentralized form of government. We have 50 state legislatures that should listen to what bitcoin workers say.
We must concentrate our efforts here.
- Advocacy and education can help at the federal level
- But I think it's a foregone conclusion that the current administration is anti-bitcoin.
- It will not be affected by its position because it values control and authority over Americans' well-being.
Bitcoin workers must rely on U.S. 10th Amendment authority to present their case to state legislators.
No place in the Constitution gives authority to
the federal government to regulate
how people or states use energy.
The so-called mining ban to prove work would be unconstitutional and should be abolished by the states in response.
Educating state legislators on both sides of the corridor about bitcoin mining and the benefits it can generate for their state will motivate them to defend bitcoin mining using the 10th Amendment.
If you don't want to work through state legislatures, citizens in these 26 states have the authority to defend bitcoin mining through the ballot initiative!
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