This is an opinion editorial by Interstellar Bitcoin, a bitcoin pleb.
In a hypothetical world, imagine we are trying to stop Bitcoin. Why might we do it? How would we do it? What actions would we need to take? Where would this get us? To answer these questions, we first must talk about Bitcoin in a little more depth.
“If you know both yourself and your enemy, you can win a hundred battles without a single loss.” — Sun Tzu
Bitcoin is an idea. It is technology that provides property rights, rule of law, economic freedom, free markets and, ultimately, sound money to the individual.
Bitcoin is a fixed supply ledger, defining who owns what and enabling people to transact peer-to-peer. Its ledger is enforced by proof-of-work, a consensus mechanism that utilizes energy in a way that removes inefficiencies and creates abundance.
Fundamentally, Bitcoin is information and math, thus banning it would have wide implications.
We’ve outlined what Bitcoin is. So why ban it?
Control over the ability to print money and the resulting Cantillon effect. Control over what energy usage is “morally acceptable” and what is not, such as via “ESG” (environmental, social and governance) mandates. Control over a populace. Total authoritarianism.