At the 2024 Bitcoin event in Nashville, author and Bitcoin advocate Jimmy Song took the stage to criticize the topics presented on the first day. He targeted the involvement of the banking sector, institutional investments, and the introduction of exchange-traded funds (ETFs) in the United States, viewing them as attempts by multinational corporations and the administrative state to co-opt the Bitcoin movement.

During his panel, Song emphasized the importance of rugged individualism and the pioneering spirit, values deeply rooted in traditional American ethos and the Bitcoin community. He strongly criticized previous panels for deviating from these principles by featuring speakers from financial institutions such as BlackRock, the world’s largest asset manager.

“What makes Bitcoin great is liberty, freedom, self-sovereignty. These are the foundations of this country. Unfortunately, due to the power of money and the influence of the money printing press, we are now governed by an administrative state that believes it knows better than us,” Song asserted.

Fellow panelist and independent media personality Luke Rudkowski echoed Song’s sentiments. He highlighted that Bitcoin offers an incredible opportunity for people to recognize the issues created by government actions. Rudkowski explained that Bitcoin, as a scarce and decentralized asset, empowers individuals to help themselves and each other, independent of state structures.

Centralized Government: A Multi-Headed Hydra

The warnings from Song’s panel come at a time of increasing state surveillance and attacks on free speech, particularly in the United States, which has the largest government bureaucracy of any modern country.

In April 2024, whistleblower Edward Snowden raised alarms about the National Security Agency (NSA) nearing control of the internet due to the imminent reapproval of warrantless spying under FISA Section 702. This legislation was signed into law by President Joe Biden roughly a week after Snowden’s warning to the American public.

Crypto as a Solution

Decentralized technologies like Bitcoin have revolutionized money by removing the state’s monopoly on minting. Other crypto technologies and digital assets further the cause of freedom by neutralizing state surveillance mechanisms.

During an interview with Tucker Carlson in April 2024, Telegram founder Pavel Durov discussed how government tendencies to create a panopticon of surveillance are driving developers to innovate. Inspired by crypto wallets, these developers are working on novel communication devices designed to bypass state surveillance architectures.

Source: Cointelegraph