The Concept of Freedom In Cryptocurrency: Important or Nay?

[Themepen]

No one will understand the valuable of cryptocurrency until they want to send money to someone leaving in another country and the banks disappointed them by not given them access or tell that the network is down and the person receiving really expected to the money and after everything you couldn't pay but you you then realize Bitcoin can go through for you, that's when yiu know the benefits of crypto.

Bitcoin has more and more advantages but it lies on the usage of the coin. If you use it then you will understand the benefit of using crypto and things they can do for you in reality.

You only truly understand value of cryptocurrency like Bitcoin when regular banking does not work. When sending money abroad banks can be slow or unavailable but Bitcoin works smoothly. This shows how cryptocurrency has many benefits like sending money anywhere easily. It is faster to transact there is no central control.

When people use cryptocurrency they see how helpful it is. More and more people are using Bitcoin and other digital currencies discovering their power in making financial transactions easier and safer and more transparent.

[hugeblack]

I'm pretty sure there was news saying that the US government wanted non-custodial wallet developers to force KYC/AML on users in the past. It was met with terrible reception iirc, so there was a pushback from the public if the government was open to critics. Not sure what will happen if you live in a dictatorial country though.

The weak link here is mining pools, which require physical resources and space, making them difficult to hide. If there is international cooperation to create a common database of banned addresses, it may be difficult to broadcast and confirm a transaction from blacklisted addresses, and then it will be easy for countries to force users to complete identity verification. This will require international cooperation, which is rare, but Bitcoin is almost not a political arena, so it is possible to see such legislation.

[Sim_card]

Cryptocurrency has a philosophical foundation of giving the people the freedom to decide for themselves financially...away from the total grip of the government and traditional financial institutions. For people who are usually experiencing strong, stable freedom environment in some countries, this may not be on the top of their concerns but for those who are on police state and dire economic circumstances cryptocurrency can be a good option to protect their wealth and the future.

When I entered cryptocurrency by buying my first Bitcoin, the concept of freedom has not come to my mind as I was not really oriented on the history and foundation of it but later on this concept started to seep into my consciousness and now I know why we have to take this opportunity of our lives.

I think that newcomers to cryptocurrency should start to explore this area so they will really appreciate more of what they got into...and not just throw it away like a candy wrapper.

You should be more specific on bitcoin and not altcoins because the word cryptocurrency is vague and if newbies are reading through, they might feel that it is all cryptocurrency that gives financial freedom unknown to them that it is only bitcoin that has the capacity to give people financial freedom. Financial freedom is what I really appreciate in bitcoin because it makes me feel safe with my funds since bitcoin gives you the opportunity to be your own bank. This is what the government don't like about bitcoin because is above censorship. Majority of cryptocurrency are centralized and are being controlled by the dev.

[Findingnemo]

Financial freedom in conducting transactions is different from protecting wealth. Many people use Bitcoin as an investment, especially with many local currencies losing their value, but most of us have not experienced Bitcoin in terms of financial freedom. With the few cases of using Bitcoin to make payments, I believe that many people still have to exchange Bitcoin to cash to conduct daily transactions or to buy goods and products.


Governments can still influence this.

Even if we can't use the Bitcoin to pay for something directly still is better alternative especially in the country where the inflation is out of control. We can think about gold but it's not convenient as Bitcoin so it's better tool we got for tackling the shitty fiat system which not only control the transaction but also making the value of it go down every year.

Well for some it's not the most important but eventually they will understand about the decentralisation part not just the volatile speculative asset.

[MrSpasybo]

Even if we can't use the Bitcoin to pay for something directly still is better alternative especially in the country where the inflation is out of control. We can think about gold but it's not convenient as Bitcoin so it's better tool we got for tackling the shitty fiat system which not only control the transaction but also making the value of it go down every year.

Well for some it's not the most important but eventually they will understand about the decentralisation part not just the volatile speculative asset.

We can simply view BTC as an investment that generates returns similar to stocks or gold. Even in many countries where using BTC for payments is illegal, in those with hyperinflation, BTC is the best option they have to protect the value of their labor. For them, BTC is truly a lifeline to continue existing in a poor economy.

BTC and crypto are a new asset class that is much more accessible than gold, real estate, or stocks. This market operates 24/7 and almost anyone can participate. I think this could be part of financial freedom when people have the right to invest in the assets they want without having to rely on the permission of a third party.

[ZAINmalik75]

The financial freedom that bitcoin encompasses cannot be overstated but if we’re unable to use bitcoin for transactions at anytime and have to convert to fiat currency and spend it, it has tempered with the freedom in it since it already involved the third party government banks. It does provide freedom but that freedom can only be achieved fully when legalized for all global trades and transactions within the financial system. Bitcoin still stands to be a means of financial freedom as we can own and control when to send and spend it without interference from any authority on how to go about it.

It's not that easy to make Bitcoin legal for global trade although Russia has started to make international trades with other ally countries in BTC which is a big achievement for it they are also planning to start their journey with good platforms like exchanges in the crypto era. We cannot get total freedom from BTC because we can't use BTC to pay for everything banks and fiat currency come to use to pay for things that we can't pay with BTC.

Not every single person knows about BTC, so with time adoption is increasing. maybe in the next 100 years people will use BTC as the main currency but it's not that easy.

[Dr.Bitcoin_Strange]

Even if we can't use the Bitcoin to pay for something directly still is better alternative especially in the country where the inflation is out of control. We can think about gold but it's not convenient as Bitcoin so it's better tool we got for tackling the shitty fiat system which not only control the transaction but also making the value of it go down every year.

Well for some it's not the most important but eventually they will understand about the decentralisation part not just the volatile speculative asset.

We can simply view BTC as an investment that generates returns similar to stocks or gold. Even in many countries where using BTC for payments is illegal, in those with hyperinflation, BTC is the best option they have to protect the value of their labor. For them, BTC is truly a lifeline to continue existing in a poor economy.

Not to mention how convenient it makes it for people to move money internationally with lots of ease. Bitcoin has several advantages and we can’t begin to mention them all. And yes, it’s also a great way to secure your money and asset from the hands inflation which has proven to be a global pandemic that’s been tearing down several economies. But turning to Bitcoin as a store of value can really come in handy, and is even more cooler than gold which used to be one of the best way to protect funds from inflation, because it’s a lot more easier to move Bitcoin since it’s digital in nature, unlike gold which is tangible.

[libert19]

When I entered cryptocurrency by buying my first Bitcoin, the concept of freedom has not come to my mind as I was not really oriented on the history and foundation of it but later on this concept started to seep into my consciousness and now I know why we have to take this opportunity of our lives.

I came across crypto first before even having a bank account, and I did not know how beautiful it all is (and I'm not saying mere words here), then later on when I came to understand about traditional finance, the more I appreciated crypto.

 

[Sim_card]

Financial freedom in conducting transactions is different from protecting wealth. Many people use Bitcoin as an investment, especially with many local currencies losing their value, but most of us have not experienced Bitcoin in terms of financial freedom. With the few cases of using Bitcoin to make payments, I believe that many people still have to exchange Bitcoin to cash to conduct daily transactions or to buy goods and products.


Governments can still influence this.

Even if we can't use the Bitcoin to pay for something directly still is better alternative especially in the country where the inflation is out of control. We can think about gold but it's not convenient as Bitcoin so it's better tool we got for tackling the shitty fiat system which not only control the transaction but also making the value of it go down every year.

Well for some it's not the most important but eventually they will understand about the decentralisation part not just the volatile speculative asset.

That's one thing that makes me like bitcoin because it is an hedge against inflation. My country fiat currency is depreciating every time due to bad government, corruption and inflation. So using bitcoin or keeping your savings in bitcoin is good because in the future the value of your money will still be there with benefits which is the profit that your bitcoin investment will yield overtime.

[Lucius]

For me, that concept is important and makes sense, but unfortunately for a lot of people it is not the case because they look at BTC only from the perspective of profit. Of course, I have nothing personally against profit and I think that BTC has been an excellent hedge against inflation all these years since it has existed - but I think that everyone should use it as a currency from time to time, because in this way we show that BTC has its value in that segment as well.

The very idea that everyone can be their own bank (in the literal sense of the word), and that they can make a transaction with anyone at any time is, in my opinion, an incredible dose of freedom that in reality people did not have before the appearance of BTC.

If someone wonders why "they" are so against BTC, I would answer that it is precisely because of this freedom - because free people are difficult to manage, and those who are dependent are the most obedient.

+1

[Findingnemo]

BTC and crypto are a new asset class that is much more accessible than gold, real estate, or stocks. This market operates 24/7 and almost anyone can participate. I think this could be part of financial freedom when people have the right to invest in the assets they want without having to rely on the permission of a third party.

I forgot to mention that 24/7 open market which is available only on crypto nowhere else so it's truly a saviour especially in countries where the fiat value changes everyday. I heard in Cuba the price of their fiat even changes for every few hours so the menu cards doesn't include a fixed price on the list in that situations Bitcoin can be helpful or if they worry that everyday volatility is a problem for short term usage then they have Stable coins on various chains which can be used for day to day usage.

[Tribalchief]

~snip

I forgot to mention that 24/7 open market which is available only on crypto nowhere else so it's truly a saviour especially in countries where the fiat value changes everyday. I heard in Cuba the price of their fiat even changes for every few hours so the menu cards doesn't include a fixed price on the list in that situations Bitcoin can be helpful or if they worry that everyday volatility is a problem for short term usage then they have Stable coins on various chains which can be used for day to day usage.

Just imagine staying in a country where your fiat value keeps fluctuating every few hours, It's a pity for an average citizen that is trying to survive there. I don't really know if that's the same issue with my own country, because our currency depreciates nearly every week. I can get a product for $1 and the next time I go for it, it might have increased to $1.2 dollar or even more. And for the fact that crypto related services are always made available 24/7, it shows how well it can be effective in making the lives of surviving citizens better. Few weeks ago, I literally made a p2p transaction around 1AM. I didn't have any doubt because I believed that I will definitely find a merchant online at that late hour. I am not sure if we can get such service in 20% of the banks around the world.

[Z-tight]

BTC is freedom, but it depends on how you use it, if you store your BTC in a centralized exchange or custodial service, then it is no different from using fiat, if you lend your BTC out, to receive interest in return, you have no freedom. Not your keys, not your coins, the only correct way to use BTC is when you have your coins in your open source, self custodial wallet, only then can no third party confiscate your funds.

[Rubel007]

Bitcoin is definitely a freedom. When a person is stuck in the financial world without a third party now they have got a medium where they can transact through Bitcoin without fiat or any third party intervention. Still most of the countries in the world have not accepted bitcoin or it has not been legalized but people have got a solution which was not available before the invention of bitcoin. Not only that, a person cannot monitor his wealth properly due to various reasons. In some cases, a person may also confess to a political conspiracy. Bitcoin may be the only solution to escape from this situation. I can call it my freedom to do anything according to my own convenience and desire as well as protecting my privacy and Bitcoin is playing the only role for this freedom. Because of which we can call Bitcoin a symbol of economic freedom.

[JoyMarsha]

I think that newcomers to cryptocurrency should start to explore this area so they will really appreciate more of what they got into...and not just throw it away like a candy wrapper.

Not all newbies in crypto would come to terms with investing their money in what they have no total control over. Many newbies are just looking for ways to make quick profits from their Bitcoin investment, not to be patient and wait for so long before they can make many profits gains from their Bitcoin investment. That's why you see most newbies prefer to invest in shitcoin because it provides quick profits for them than Bitcoin that is expensive and has always goes by having a long term investment plan before seeing good profits in it.