Bitcoin price continued to confound both bulls and bears on Monday trading. After emerging from the weekend in a definite downwards spiral from breaking the USD 8,000 support, price somehow found a way to recover yesterday and has since not looked back from above USD 8,100.
In fact, within a few more hours of Central Europe trading, Bitcoin will be well above USD 8,200 and will have not dipped below the crucial support level for a full 24 hours. It is a change of almost 2% on the previous day’s valuation and altcoins have seemingly taken this to be a great sign of progress for the week.
Ether finally breached USD 180, and after posting 3.5% gains is one of the strongest alt gainers, alongside EOS (5.4%) DASH (4%) and TRX (3%), according to CoinDesk at 11:00 am UTC.
While Swedish teenage activist Greta Thunberg may be wowing audiences (though not impressing a certain Russian president) everywhere with her decidedly rampaging attacks on governments and states for their perceived failures in addressing climate crisis actions, Bitcoin communities on Reddit are calling for tributes to one Victoria Grant.
In the YouTube video shared on the Bitcoin subreddit titled ‘Victoria Grant and Public Banking’, the young girl is asked to repeat a speech she had previously shared at a Rotary Club meeting, but this time at a Public Banking Institute event.
In her speech, she began by asking listeners if they ever wondered why Canada was in debt and why Canadians are forced by their government “to pay so many taxes”. But probably why she struck a note with Bitcoiners was because she asked:
“Have you ever wondered why the bankers from the largest private banks are becoming wealthier and the rest of us are not?.. the banks and the government have colluded to financially enslave the people of Canada.”
Many Bitcoiners — at least, the original cypherpunks and idealists — would have definitely loved her rhetoric, seeing as some of the common phrases in the cryptosphere goes along the lines of “Down with Bankers” or how many people see Bitcoin as the revolutionary money to overthrow the old financial system.
She presents three points that she hopes will encourage people to do their own research to help stop what she calls the government’s “criminal acts against the people of Canada”:
- An examination of the Bank of Canada, founded in 1934 and having manageable debt, until a modern banking system was implemented in the 1970s.
- An overview of how the banking system works today. The Bank of Canada borrows from private banks, lending it to the state with compound interest. Tax is levied on citizens to pay back interest on exponentially-growing national debt.
- A viable solution for the state to implement, where the state could borrow directly from the Bank of Canada, resulting in fair taxes to repay debt, with “real money” and not “debt money” running the economy.
It’s a lot of sentiment that echoes with how people believe private money should be free, the way Bitcoin aims to be, transparent, accountable and decentralized. Greta haters will probably also criticize Victoria’s obviously memorized speech, however!
But if that is not enough to make you love kid activists, then maybe the latest news to come out from Japan will!
Reuters Japan has reported that the Minister of Internal Affairs and Communications in Japan, Sanae Takaichi, has declared that crypto donations in the nation are legal, paving the way for new resources for political campaigns. She even clarified further, that all crypto donations made to individual politicians would not be subject to disclosure.
She referenced Japan’s Political Funds Control Act, which note that all donations made in cash or securities must be disclosed to the authorities for transparency. Takaichi declared:
“Cryptocurrencies do not fall under any of the above.”
Strictly speaking, she could be correct. However, Japan has since 2017 recognized Bitcoin as legal tender and a legal method of payment, which would technically mean that Bitcoin at least can be considered money. The same year, crypto exchanges were formally brought under new national laws for regulation AML and KYC compliance, being one of the few countries worldwide to bring such recognition for crypto.
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