Bitcoin developer Jimmy Song says the original cryptocurrency can be a powerful tool to usher in a “peaceful revolution.”
“The biggest thing bitcoin brings is the decentralization of monetary power,” Song says (see video starting at 13:40). “If you have government and big business get together, they usually get what they want.”
‘Currency of Resistance’
Song says crypto can elevate the individual over the dominance of corporations and the government because it’s decentralized.
“When you’re talking about governance, and you’re talking about the user winning out over the monoliths, the corporations, the plutocrats….It seems as though bitcoin is the currency of resistance,” Song said. “Bitcoin should be the currency for all these global movements to unify.”
Song pointed to the protests of the Gilets Jaunes (or Yellow Vests) in Paris, who don’t realize that crypto can help them topple the entrenched corruption of big government, big business, and legacy banks that they’re protesting.
“That’s the thing that a lot of people don’t recognize: Monetary power is the big force in the world,” Song explains. “It’s the people who control the purse strings who really run the world.”
‘Take the Power Away’ From Banks
Jimmy Song says if the Yellow Vests really want to bring about change, they should start by decentralizing the legacy financial system.
“All of these protest movements — what they are doing is going after who’s in charge. What they should really be doing is taking the power back for themselves, decentralizing power. And it starts with bitcoin.”
Instead of protesting on the streets, where they risk getting hurt or killed, Song says the Gilets Jaunes should be working behind the scenes to free everyone from the shackles of big government and big banks.
“This is a much more peaceful revolution that’s possible with bitcoin,” Jimmy said.
Interestingly, a Yellow Vest protester in Paris was recently spotted wearing a “Buy Bitcoin” jacket.
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Song: Stop Obsessing over Crypto Prices
When asked to comment on the crypto bear market and the recent price swings, Jimmy Song says it’s better for developers like him to ignore that static.
“I think [BTC] is a Cypherpunk ideal, so it’s not really necessarily about what the price is at the moment,” Song says. “The people that are working on it believe it in long-term. We’re in it for the long haul.”
Song says if anything, bear markets are better for productivity than bull runs.
“The bitcoin price going up can actually be a very big distraction for a lot of developers,” he said “When the price is going up, we’re all thinking about how much bitcoin we have and what we can buy, so it’s very easy to get distracted when there’s a bull market.”
Song added: “During a bear market, you don’t want to think about the price that much. Instead, you get down to work and build all sorts of goods and services that might be useful to people, and that’s a good thing.”