July 4 Bitcoin financial independence
Part One: A Declaration of Independence
There is a lot of history to map when examining Independence Day. Some historians may refer to the 1940s, or July 4, which is recognized as a federal holiday; Maybe BBQs or fireworks would find their way into the conversations.
A military historian can dive into the American Revolution, 1776, the Continental Congress or the original 13 colonies as an excellent place to start boring your grandchildren. Bitcoin writers have also explored this topic from a variety of perspectives. I have to try an alternative approach; from a status quo perspective.
One aspect that many forget to mention is that only a small, fringe minority really sought complete and sovereign independence from Britain in 1775. The colonists who believed that “America” should be independent of Britain were considered a radical group that deviated from the law. norm. The masses consoled themselves, even in tyranny.
Thomas Paine’s “Common Sense” led many more colonists to take up arms as mistrust and anger grew against Britain. Paine’s work is similar to Satoshi Nakamoto’s White Paper on Bitcoin. Both documents sought to identify issues in the current status quo and suggested an alternative solution.
The challenge was that most of the population found solace in persecution, taxation, lack of representation and authoritarian rule. Many people shrug this off now as the years tick by and society is further removed from the past, but how would life change if people were genuinely sovereign in America?
What if no government intervention, no rescue operations, no safety nets, no welfare, no subsidies and no “free” trips were the norm? I guess if a census took place today, many Americans would be wrong on the side of tyranny versus sovereignty – as they did in the late 18th century.
I could suggest many reasons, but the majority of them hover around a fear of the unknown or really having to support themselves and those they care about with something more than common sense, hard work and determination. Bitcoin rewards all these human qualities with incorruptible, non-confiscable, immutable and eternal property.
Bitcoin’s proof-of-work model reflects the American spirit; even beyond the generation hope, Bitcoin represents American gravel. Bitcoin rewards hard work, because it was born of hard work, time, energy and sacrifice. Bitcoin is determination, because it was based on an alternative to the status quo. Bitcoin mirrors Independence Day in a profound way.
Bitcoin outwitted stupidity, arrogance, incompetence, laziness and greed. For individuals seeking sovereignty, there is no other option.
The irony is that everyone from liberals, moderates, libertarians and conservatives is represented in the Bitcoin network. Nevertheless, they are still a fringe minority in their respective communities. This common thread has pulled them together, even more so, in some respects, regardless of their political differences. Individual “Financial Independence Day” has not yet been identified by many individuals (non-Bitcoiners) – let’s change that.
Part two: Individual sovereignty
Many individuals, organizations, companies and nation states own bitcoin, or at least think they do. Unless these parties have their private keys, they entrust custodians, many of whom failed when the pressure came to push.
Many people reading this article may have kept their private keys for years, while others may have recently set up a hardware wallet … and connect it daily to make sure they understand how it works. Others either do not have their private keys, have their savings on a third-party exchange or are not exposed to bitcoin (yet).
I would encourage Bitcoiners to see if they can look back at the hardware wallet’s transaction history to see when their first BTC transfer occurred. The day these people took custody of their first satoshi or bitcoin is their financial independence day.
Then I would encourage families to make this date known to the people they care about, and at least use this date as a reminder to discuss the meaning and importance of Bitcoin, sovereignty, hard work, determination and independence.
Yes, July 4th is a federal holiday where families gather, break bread and enjoy time together; But meaning is lost if, even for a brief moment, no time is devoted to remembering the meaning and sacrifices made on your behalf.
When people identify the family’s financial independence day, I encourage them to celebrate as much as they would when they honor this country on July 4th. The significance of Independence Day is that individuals can OWN property; and what property is better to own than one that is completely non-confiscable by any entity?
Maybe, if you have not taken care of your bitcoin, maybe this 4th of July is a great day to start.
Happy 4th of July, and a tip for superb individuals with satoshis and Bitcoin in cold storage.
This is a guest post by Dr. Riste Simnjanovski. Expressed opinions are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.
