According to recent news reports, governments around the world are using every available legal loophole and legislation in an effort to stifle cryptocurrency. Exchange crackdowns make headlines one day and blanket bans or “iris scans required for every Satoshi spent” the next. It seems like new regulations are being imposed at a rate greater than the minting of coins – check this out for more information!
But hold on a second: Bitcoin is unflappable. It refuses to stop chugging, becoming louder, more proud, and occasionally a little arrogant, like a cat that snatched your priceless vase and waltzed away unscathed. Cryptos ebb and flow; regulations deter some initiatives. The value of tokens rises, falls, and then disappears into thin air. Countless meltdowns and outlandish predictions occur weekly on crypto Twitter. The digital currency Bitcoin, however, continues to stand, tapping its digital foot in anticipation of the next attack.
What makes Bitcoin unique? To begin, Bitcoin is currently being led by no one. You can’t raid an office because there is no CEO or corporation. From Buenos Aires to Berlin, thousands of machines staffed by strangers are running the code. It is possible that the next block will be mined by someone in South Korea. Meanwhile, a student in Canada’s running a node for fun. Resilience isn’t even the right word. It’s more like cockroach DNA—good luck getting rid of Bitcoin.
Sure, governments can halt centralized exchanges or demand crazy paperwork. They threaten to unplug crypto on-ramps like a teacher snatching away a kid’s Gameboy. But Bitcoin’s peer-to-peer nature shrugs at these antics. You don’t need a Wall Street broker—just a phone and a connection. Bank freeze? Pop that seed phrase out of your brain and you’re still good. Nation states with infinite resources can battle with Bitcoin, but like attempting to squash water with your hands, it slips through every crevice.
China outlawed Bitcoin mining last year. Devices turned off, hash power stumbled, and media pronounced doom. One month later, hash rate rebounded. Bitcoin miners packed up, trekked off, or reassembled elsewhere within weeks. Central planning meeting not held. Simply say, “Get ready, we’re relocating.” Without passports, permissions, or boundaries, that is the power here.
Printing or sanctioning fiat money continues until muscles tense. Code caps and restricted schedules make Bitcoin laugh. That’s why it’s the go-to solution for people in Venezuela, Turkey, and Nigeria if their currency is in worse shape than last week’s leftovers. Passports are irrelevant to Bitcoin. It responds to math.
Novel legislation causes concern. Indeed, there are more complex matters. However, we should consider a worldwide ban on mathematics. Prohibit SHA-256 hashes all you want; promising a town hall meeting won’t help you explain your reasoning. Bitcoin is built on decentralized, open-source software that anybody can check. There is no country, not even North Korea, that can eradicate mathematics.
Politicians can certainly continue to stymie progress. Onboarding new employees may become more challenging. Like Prohibition, maybe you should keep your enthusiasm in Bitcoin under wraps. To be sure, word goes out. Somebody, somewhere, will execute the code and make sure that everyone who needs it can see the bat-signal.
So, Bitcoin is still available, even though governments are chasing their own tails and printing regulations at the rate of bills. Unfazed, unstoppable, and yet perpetually ahead of the curve—that’s the honey badger of finance.