69 % Female Crypto Investors in U.S. Adopt Holding Strategy, Survey Shows

Female Americans continue to be resilient as cryptocurrency owners, despite the broad market turmoil being experienced, according to a survey by global crypto financial services company BlockFi. 

Through the latest edition of the Real Talk survey, BlockFi suggested that female crypto investors on American soil had a long-term outlook because they had adopted the buy-and-hold strategy. Per the report:

“When asked specifically what best describes their crypto investment style, the majority of female crypto owners (69%) said they hold crypto and remain hold-only.”

Flori Marquez, BlockFi’s founder and COO, added:

“The crypto landscape and the number of players look completely different than it did six months ago when we last issued this survey and yet the faith in the crypto markets and its potential as a long-term investment strategy remains. This resiliency is extremely promising.”

On the other hand, interest in this asset class has also not significantly decreased among female Americans. BlockFi noted:

“More than one in five women (22%) still intend to buy crypto in the next 12 months, down slightly from 28% the year prior.”

Some of the reasons why female investors in America are attracted to cryptocurrencies is because they believe it’s an inflationary hedge. Per the survey:

“When asked, one in five women believe crypto to be a good hedge against inflation. Even more, 20% of Gen Z women noted Bitcoin as the best long-term investment when presented with a list of options including individual stocks and real estate.”

Nevertheless, the study revealed a generational gap because one in ten women on American soil chose crypto as their first investment. 

Meanwhile, an Ipsos survey showed that the intention of investing in cryptocurrencies or using them as a payment option was higher among Americans compared to Canadians, Blockchain.News reported. 

Image source: Shutterstock


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24% American Households Purchased NFTs or Crypto, Study Shows

Cryptocurrencies and non-fungible tokens (NFTs) are emerging as some of the sought-after assets by households and sports fans on American soil, according to a poll by the Seton Hall University. 

Per the report:

“While the concepts of cryptocurrency and NFT may still be foreign to many Americans, 24 percent of households in the U.S. have owned either or both.”

The demographics were even higher for avid sports fans at 57%, whereas the rest of the sports fans acknowledged owning these financial assets at 34%. The poll added:

“When asked specifically if their holdings were cryptocurrency and/or NFTs, survey participants indicated stronger engagement with crypto. Of those who hold and/or sold either, 62 percent specified crypto only, while 31 percent specified NFTs only. Seven percent said both.”

Those aged 18 to 34 years had a higher participation rate in crypto and NFT trading at 42%. 

NFTs can become a game-changer in the sporting arena as an ideal source of revenue, according to Seton Hall Marketing Professor and Poll Methodologist Daniel Ladik.

He pointed out:

“If managed effectively, NFTs could become a major source of revenue as well as a new avenue of fan connection for sports brands. In a digital age, interactive assets like NFTs can drive a sense of holder equity and belonging – key attributes for brand success.”

The poll noted that sports fans got inclined toward NFTs based on some of the benefits accrued, like getting discounts when a team scored and upgrading a ticket.

Charles Grantham, the Director of the Center for Sport Management at Seton Hall’s Stillman School of Business, acknowledged:

“The numbers would seem to indicate that NFTs represent fertile ground for leagues to enhance the fan experience.” 

Nevertheless, Grantham commented that more had to be done in the NFT space and said:

“But, perhaps because teams and leagues don’t fully understand the nature and potential of NFTs and perks like a digital VIP card, that ground has yet to be sown effectively by major sports organizations in the United States.”

Americans have shown their interest in the crypto space based on past research. For instance, Americans presented a stronger desire than Canadians for cryptocurrencies, according to a recent Ipsos survey. 

Furthermore, a FitRated study showed that 81% of Americans would be motivated to exercise if they got crypto rewards, Blockchain.News reported. 

Image source: Shutterstock


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20 % of American Adults Involves in the Crypto Space, Study Shows

One of five Americans has used, traded, or invested in cryptocurrency, according to a poll by NBC News.


These statistics show that cryptocurrencies continue to gain steam despite lawmakers warning about the risks involved as they craft measures to regulate the sector. 

Out of the 1,000 Americans polled from March 18 to March 22, 20% of them have dabbled in crypto, showing how the industry has soared in recent years despite being relatively young.

Half of the men surveyed between 18 and 49 years acknowledged that they had entered the crypto space, representing the largest share of all demographic groups. 

In addition, per the report:

“40% of Black Americans said they have traded or used crypto, while 42% of all people between the ages of 18 and 34 years said the same.”

Crypto advocates have opined that digital assets like Ethereum (ETH), Bitcoin (BTC), and stablecoins render security, privacy, lower costs, better transaction speeds, and give the underbanked financial services.

These are some of the factors that have triggered interest in cryptocurrencies on American soil. 

The crypto market in the United States has grown to the extent that President Joe Biden signed an executive order last month, directing relevant authorities to scrutinize the benefits and risks. 

This move marked the first step toward regulating how crypto assets are traded. 

Crypto adoption continues to gain steam across the globe.  According to a recent study by Arcane Research and Ernst & Young (EY), 10% of Norwegian adults own crypto, double the rate recorded in 2018.

Furthermore, a survey by crypto exchange KuCoin revealed that 44% of Germans see crypto as part of the future of finance, Blockchain.News reported.  

Image source: Shutterstock


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Bitcoin Revives The American Dream

Bitcoin revives the American dream.

It’s a strong claim, I know.

How would you describe the current landscape of relationship building, and family formulation? Typically within my circles it’s met with anxiety and a general lack of excitement. Why do we think this is?

I think that fiat problems have permeated every single inch of our lives. We (as a collective society) are spending more money than we have, to purchase goods that we don’t need, in order to impress people we don’t know, by pretending to live lives that aren’t real. All for clicks and attention.

I am of the opinion that this has caused the experience of attempting to find a mate to be so emotionally and intellectually draining that individuals are just completely abstaining from the process in general. Consider this; when large numbers of individuals are projecting lives that attract you and excite you, but then … once you gain access to one’s life, and you realize that the basis for the first impression(s) were a fiction. To the extreme end, this means that the basis for the relationship was established upon a lie. If anybody has ever seen a building collapse due to a shoddy foundation — it’s not a successful recipe for the future, essentially making the failure of the structure an inevitability, not just a possibility.

So, the next question is, “Why is this happening?” Why are individuals attempting to project false lives in order to garner attention? Well there’s a few answers to this, that are all playing out simultaneously. But I believe there is one, sole reason that is of the utmost importance when compared to all of the others — money. The average, single citizen can not afford to live a life that is not only socially desirable, but be capable of accumulating wealth at the same time. An individual has rent, phone bills, health insurance, car payments, etc., that all can run nearly at similar costs to each other. All the while wages have atrociously failed to keep up with inflation — shout-out to Ben Prentice & wtfhappenedin1971.com for their work detailing the disparities. When we take that into account, it is very easy to see how an average individual’s cost of living expenses can easily exceed average incomes.

All of this boils down to many barriers that provide lots and lots of friction, in the form of stress, to the very essential and important aspect of life – finding a partner, and raising children. What can be done to fix this problem? Fix the money. Fix the money, and return power to the nuclear family — shoutout to Marty Bent and Matt Odell for being the ones to attract my attention to the structure and importance of the nuclear family.

Marty touches on this subject in a podcast with Whitney Webb, — which can be found here — it should be known that this is not the only instance of the family discussion being brought up in bitcoin conversation, especially on the TFTC podcast.

I am of the belief that the importance of the nuclear family structure has been getting parsed in an intellectually — and philosophically — dishonest manner, and this is not with regard to what type of structure the family has, nor with regard to the sex/gender of the parents/gaurdians.

Having a structured familial environment plays multiple important roles, both in the aspects of child-rearing and special propagation but also from a societal angle. In order for humanity as a species, and America as a beacon of Freedom, to continue charging headlong into the future and further prosperity for all parties; we need healthy families. Why is this?

I am an individual that truly believes that each and every person is capable of greatness — this greatness is not a reflection of the morality of their impact, but of the scope. In order for said members of society to reach this potential, a structured home environment is necessary, not just for learning the basics of human functioning and socialization as a child, but in order to spark those moments of wonder and exploration that ultimately lead into what can become passions. These passions are what we humans base our entire lives upon — whether it be in the form of hobbies that blossom into careers, or simple enjoyments in the privacy of a mind. Passion is what makes the man or woman. These passions become capable of shifting the very fabric of history; we do not know of the technologies that may have been invented if only “x” individuals would have been pushed to focus on a hobby that brought them enjoyment.

Now, what gets complicated with our species is that each and every family environment is different, and I am not here to claim that bitcoin can fix those problems. But what bitcoin does do is create a monetary environment capable of allowing the individual to thrive.


Once a citizen is capable of individual wealth accumulation via a simple vehicle such as saving, and which doesn’t get rapidly diminished in purchasing power, it allows for one to build-up a capital cushion that can serve to provide both psychological contentment, as well as allow for the individual to look forward to the future – at seeing a better life ahead of them as an attainable possibility.

When this relationship is brought back to reality for the individual, it becomes an even greater force for allowing for a successful and happy family establishment. How many marriages have fallen apart due to money problems? Arguments over money is a significant root cause for a large percentage of divorces amongst Generation X and boomers alike.

Bitcoin is the asset that can pull the American Dream out of the filth of nihilism (which we currently find ourselves in), and elevate it onto the horizon of the rising sun (“…at dawn, look to the East”), placing a better future in view, worthy of optimism. It is a dark moment in history when an entire population — or an entire society — begins to believe that the future amounts to nothingness, to the point of this belief becoming commonplace. For without belief in a future being better, and without the perceptiveness to see a “way out” of their current environment — this is what many would call a “devil’s playground.” Where cases of depression run rampant as individuals lose hope, and where cases of drug abuse and addiction skyrocket as people seek to flee their current environment through an altered state of mind. A society where monetary flourishing is capable may not be completely free of these scenarios for all of her citizens, but it can dramatically reduce them. How many of us have friends, family and loved ones that are plagued with depression or addiction and just cannot see a way out? How many do we know that are putting off family formation due to economic hardship?

I believe that if we Fix the Money, we can indeed Fix the World. Bitcoin brings a worldview of family life back to those glory days of Post World War II America. Where families are booming, communities are thriving, and each of our futures are only limited by the scope of the imagination.

It bears mentioning that this also makes the “American Dream” attainable to anyone and everyone, regardless of geographic location because of bitcoin’s decentralization, uncensorable nature, and incapability of being seized.

Bitcoin brings the American Dream back into relevance for today, on a global scale.

Bitcoin provides optimism for a wealthier, more efficient, more fair tomorrow.

Bitcoin is hope for a better future.

This is a guest post by Mike Hobart. Opinions expressed are entirely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.


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A Bipartisan Case For Bitcoin

Bitcoin need not be a politically splitting idea, as there are benefits to be had from progressives and libertarians alike.

As the U.S. Senate approaches the finish line of the upcoming infrastructure deal, Coindesk has reported that congress is considering legislation with an escalating adversarial posture against the nascent digital asset industry. These policy changes need to be thoughtfully scrutinized rather than rushed, as they risk creating unintended consequences.

Physical infrastructure does not need to compete with emerging digital financial infrastructure. Like the early days of the internet, Bitcoin represents a digital infrastructure that can unlock economic opportunities for progressives and libertarians alike.

Approximately 1 in 6 Americans now owns cryptocurrencies, and nearly 80% of millennial consumers are interested in learning about cryptocurrency to understand them better. You do not want to demonize this voting block as “shadowy super coders.” Policy leaders would be well served with a reminder that Bitcoin is a liberating technology that holds appeal across the political spectrum. Here’s a brief reminder of Bitcoin’s bipartisan appeal:

Why Progressives Like Bitcoin:

Financial inclusion: Bitcoin can bank the underbanked – creating a more inclusive financial services infrastructure where anyone can store and send money, unencumbered by discrimination. Over 14 million Americans are unbanked and nearly 50 million Americans are underbanked even in 2021, and these figures disproportionately impact Black and Hispanic households. Rather than leaving these households to be serviced by predatory lenders, progressives would be well served by embracing a technology which makes access to financial services as easy as access to the internet.

Incentivize greener energy: Bitcoin’s incentive design rewards cheaper energy production. Climate change advocates would be happy to understand how this design can accelerate the global energy transition to renewable energy, particularly solar and wind energy. This represents an opportunity for Americans to make productive use of excess energy, to create jobs, and to continue to lead with innovations that help the transition to a greener future.

Why Libertarians Like Bitcoin:

A free market of sound money: Libertarians looking to minimize government intervention should be attracted to the free market nature of Bitcoin. As early as 2021, the European Central Bank recognized Bitcoin as an asset built upon Austrian economic principles – principles which embrace a market based approach to creating financial wealth for the next generation of Americans.

– Strong property rights: The right to own property is enshrined in Article 17 of the Universal Declaration of Human Rights, and similarly emphasized in the United States constitution. Defenders of civil liberties will find that Bitcoin supports the Fifth Amendment (right to private property), and the Fourth Amendment (protection from unreasonable searches and seizures). Private property ownership is the basis for economic prosperity, and digital assets represent a new frontier to extend these modern civil rights.

Accenture: Bitcoin Helps Young Girls In Afghanistan

Accenture: Bitcoin Helps Young Girls In Afghanistan

Regardless of your political beliefs, Bitcoin represents an opportunity to liberate people from authoritarian suppression. As early as 2013, young girls in Afghanistan without access to banking services were able to make money online by accepting Bitcoin. PayPal wasn’t available in the country at the time – but Bitcoin gave them a permissionless path towards prosperity. These are the very human faces of the people we are looking to liberate – you do not want to demonize them.

Yes, we need regulatory clarity and we need to pay our fair share of taxes. But you need to be thoughtful not to destroy an emerging digital financial infrastructure by pitting it against physical infrastructure. This industry enjoys bipartisan support from voters – and lawmakers should be well served by embracing this innovation rather than antagonizing this voting bloc.

This is a guest post by Ammar Naseer. Opinions expressed are entirely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.


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Bitcoin And The American Idea

Today, Americans celebrate 245 years of independence from the British Empire.

On this day in 1776, our Founding Fathers declared:

We … the Representatives of the united States of America … in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these United Colonies are, and of Right ought to be Free and Independent States; that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do.

This was a bold and risky action. Never before had a colonial state defeated its overlord, especially one at the apex of its global power.

Against all odds, the Founding Fathers rallied a young nation and won freedom. The Fourth of July is still, nearly two-and-half centuries later, a cause for great pride across our country. The idea of America, and the values on which it was founded, animate resistance struggles around the world. The principles of free speech, property rights, equality of opportunity, individual liberty, and checks and balances on government power are ones to aim for and live by.

But for some, the Fourth of July seems like a hollow festival. America the idea has grown distant from America the reality.

Our history is in many respects shameful: We enslaved African Americans; we pursued a genocidal conquest of Native Americans; we interned Japanese Americans in prison camps; we invaded Vietnam and Iraq and launched the “forever wars”; we backed coups against democratically-elected leaders; we have an ongoing War on Drugs and prison industrial complex; and we have developed a sophisticated surveillance state. These are just a few examples of how we have strayed from the breathtaking words of the Declaration of Independence.

At the base of the Statue of Liberty in New York Harbor rests a bronze plaque with the words of “The New Colossus,” a sonnet by Jewish American poet Emma Lazarus. The last few lines read:

“Keep, ancient lands, your storied pomp!” cries she

With silent lips. “Give me your tired, your poor,

Your huddled masses yearning to breathe free,

The wretched refuse of your teeming shore.

Send these, the homeless, tempest-tost to me,

I lift my lamp beside the golden door!”

As essayist Allen Farrington has pointed out, the United States has, in many ways, lost this generous founding spirit. Over time, that spirit has been sacrificed on the altar of the self-interested schemes of politicians and elites and on the pacts that our leaders made with dictators to secure U.S. financial dominance. But could the Scarlet Letters on America’s history be dimmed by a new act of rebellion — a declaration of monetary independence?

If the 1776 declaration was a document of political freedom, then in 2009 came a document of monetary freedom: Satoshi Nakamoto’s Bitcoin White Paper.

As noted by Joseph J. Ellis in “Founding Brothers,” a Pulitzer Prize winning–history of America’s first leaders: “The creation of a separate American nation occurred suddenly rather than gradually, in revolutionary rather than evolutionary fashion, the decisive events that shaped the political ideas and institutions of the emerging state all taking place with dynamic intensity during the last quarter of the eighteenth century.” Many of the lasting pillars of American society and governance were established in the span of just a few short years.

This is happening once again. Not with politics, but, this time, with money. As Ellis writes, the framework for America “was built in a sudden spasm of enforced inspiration and makeshift construction,” as is happening now with Bitcoin.

The quest of the Cypherpunks and Satoshi to establish digital cash beyond the control of the state was animated, not by fear of an imperial power, but by the nascent threat in the 1980s and 1990s of the electronic surveillance state, and of the looming loss of our liberties as we entered the digital age.

In 1961, President Dwight D. Eisenhower gave a powerful farewell speech. He noted proudly how America was “the strongest, the most influential and most productive nation in the world,” but he also warned how the military-industrial complex that had grown as a result of our wars abroad posed existential dangers. If one had told the Founding Fathers that, 150 years after their passing, the following words would be uttered by the leader of America to its people, it would have chilled them to the bone but probably not surprised them:

“This conjunction of an immense military establishment and a large arms industry is new in the American experience. The total influence — economic, political, even spiritual — is felt in every city, every state house, every office of the Federal government. We recognize the imperative need for this development. Yet we must not fail to comprehend its grave implications. Our toil, resources and livelihood are all involved; so is the very structure of our society. In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted.”

Eisenhower also noted the technological revolution underway and warned against the rise of a “scientific-technological elite” uncaring to our founding freedoms.

The Cypherpunks witnessed the realization of Eisenhower’s dark vision, as by the 1980s, they felt the surveillance state creeping in and laying down roots for future expansion. They also recognized the limits of what could be achieved at the ballot box. There were diminishing returns to asking the government to protect our freedoms. Some liberties would have to be seized with open source code.

Bitcoin is the instantiation of a revolutionary idea: a system that cannot discriminate; that does not wield violence; that does not have special rules for the rich; that does not require identification or a particular status or level of wealth or race or creed to use; and whose rules cannot be manipulated by governments. Satoshi arguably took the best ideas from Thomas Jefferson, John Adams, and their colleagues and gifted them to people around the world.

As the Declaration of Independence says, “When a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce [people] under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.”

Our “new guard” is Bitcoin. Not just a founding document, but a network designed to fight the despotism of central banking and financial surveillance, a despotism set in motion hundreds of years ago.

A debate over the money system was at the heart of America’s founding. One of Jefferson’s biggest regrets was that, in securing the capital’s shift south from Philadelphia to Washington, he compromised with Alexander Hamilton and agreed to assume individual state debts into a national debt, centralizing the American financial system. This centralizing momentum grew over the decades, finally manifesting in the Federal Reserve arrangement we have today, which gives unelected bureaucrats control of the monetary system.

Another item that gave the Founding Fathers pause was the weak performance of pre-revolutionary state paper currencies (which saw price inflations ranging from 800% to 2,300%) and the Continental dollar, which was printed into oblivion and lost 99.9% of its value during the Revolutionary War. Maybe in that one case, some thought, it was worth it to debase a currency to win a war, but in the future, the same action of being able to debase the currency may launch many new, unnecessary wars. Those that followed this line of thinking would have neatly predicted America’s current predicament — the “forever war” phenomenon, where the last three presidents have been at war every day of office, even though the domestic nation seems to be at peace.

What if our monetary future does not continue down this path of centralization and debasement but, rather, follows a new path of decentralization and growing value? Today’s dollar hegemony was engineered by Richard Nixon and Henry Kissinger. Tomorrow, the currency of America could be based on the twin ideals of the Founding Fathers and Satoshi Nakamoto.

Unlike America, which lost its first battle over centralization just a few years after its founding, Bitcoin won its first battle over centralization during the Blocksize War, where user control and personal freedom defeated business interests and the concentration of power.

On July 4, 1821, Secretary of State John Quincy Adams warned of an America that would become a global imperium “in search of monsters to destroy.” An America where the “fundamental maxims of her policy” have “insensibly changed from liberty to force,” where we have become “the dictatress of the world.”

Perhaps Bitcoin can help Americans reflect on our history and remember that our true glory, in Adams’s words, is “not dominion, but liberty,” and that our true march is “of the mind” and not the sword.

To help ponder this, I spoke to two people whose families and ancestries have borne the brunt of America’s worst, who carry two strikingly different perspectives. They carry contrasting assessments of American history, and of our founding story, but own a similar optimism about the future of America, powered by Bitcoin.

Bitcoin And Black America

Isaiah Jackson is an entrepreneur and the author of Bitcoin and Black America, a searing critique of how the U.S. financial system systematically discriminates against African Americans to this day. The book is also a rallying cry for the black community to explore using Bitcoin as a way out of a system that unfairly benefits elites.

Jackson writes how “before Bitcoin, no matter how much money you raised to support a liberation plan, civil rights movement or march, ultimately you had to use the banking system … you continued to feed a system that did not have our best interests at heart. All of those deposits would enrich banks who encouraged redlining, denied loans to qualified applicants, and, even beyond race, bankrupted the entire financial system in 2008 [and then] gave themselves bonuses to celebrate.”

Bank after bank, Jackson points out, have been caught and fined for holding blacks to different standards than whites. In one recent study, “Borrowers in upper-income black neighborhoods were twice as likely as homeowners in low-income white neighborhoods to refinance with a subprime loan.” As a result of the legacy of slavery and practices like these, he writes that “black households have the lowest median wealth among races in America.”

His plan to change the fate of his community? To spread the word about “how Bitcoin could spark a revolution among regular, working class people.” He says: “I specifically showed how we could gradually reject fiat currency, use Bitcoin, and start or own local economies … I propose that we build our foundation of social change and protest by steadily moving our funds out of the banking system.”

Because of Bitcoin, forced dependency on a system that keeps black people down is, he says, no longer the only option. He summarizes his mission simply: “Hopefully, during the period of the biggest transfer of wealth in human history, the black community won’t be last to the party.”

I reached out to Jackson (or Zay, as he’s often known) to get his perspective on the Fourth of July as an American holiday, and his thoughts on the idea of America versus the history of America.

Jackson is half African American, and half Native American, with a family tree partly tracing back to slaves that were sold from Africa to Barbados and then onto South Carolina, and partly tracing back to Native Americans persecuted in Florida and Oklahoma.

He says that “growing up, in a black family, we’re celebrating on July 4th, but it’s not exactly a patriotic holiday. Hot dogs and cookouts and fireworks are fun, but for me, it’s about being with family and enjoying the time off, not paying tribute to the founders.”

Jackson says that July 4 really has become a “consumerist memorial,” and not something that carries a deep meaning. He points to Junteenth as something that resonates more, as it celebrates the emancipation of slaves and the liberation of humans.

Even on the idea of America, Jackson says that it was “their idea” of America. “Imagine,” he says, “if they allowed black people or women to sit in on the creation of the Constitution. We wouldn’t have had to wait around decades for the 13th or 19th Amendments.”

No, in practice, Jackson says, America is not the “land of the free.”

“We’re at a point in history,” he says, “where we’ve gone away from that completely.”

Jackson says that millions of Americans have been brainwashed by a broken public school system. He calls it the “Pocahontization of history,” where many kids think that the relationship between the European settlers and the Native Americans was as depicted in the Disney movie, as opposed to the brutal conquest that actually happened.

“As a former public school teacher, and as someone whose mother and grandmother were public school teachers,” he says, “let me just say: We didn’t teach kids about the real history of America.”

Jackson tells a story about his youth, when he was 14 years old and the U.S. government invaded Iraq. He remembers watching the TV screen and seeing estimates that the military operation would cost more than a trillion dollars. (To date the U.S. has spent more than $6 trillion on the War on Terror). He was stunned.

“A trillion dollars? I was sitting in a neighborhood filled with poor people. We had no infrastructure, terrible education, terrible healthcare. Even as a young kid,” he says, “I knew we should have used that money domestically, instead of using it to destroy another country.”

Jackson says he has one uncle who “doesn’t believe anything in the media.” Everyone, he says, thought this particular uncle was crazy for questioning the Iraq War, which was very popular at the time. His uncle told Jackson that the war would never end, and that even though they promised it would be short, that it would be long, and that the leaders of America want to be at war.

“I thought he was a crazy person, but he was right. That was 18 years ago,” Jackson says, “and we’re still fighting in Iraq today.”

Jackson says he is privileged to live in America. “Here,” he says, “we take indoor plumbing, air conditioning, having a robust transportation system, and even having a relatively stable currency for granted. Many people around the world lack these things.” He stops short of saying he’s proud to be American.

But, not wanting to depress you on your Independence Day, Jackson says despite the past he is hopeful for the future — because of Bitcoin.

Bitcoin, he says, is “more American than apple pie.” It is “based on the initial ideals, where we started with a revolution, an overthrow of oppressors taking taxes without representation, challenging tyranny.” He says Bitcoin “is doing the same thing, just in a global manner.”

Could bitcoin give real freedom where a piece of paper failed?

“The reason why the revolutionary dream remains unfulfilled,” he says, “is because the money is flawed. We have to fix the money.”

While Jackson feels no deep connection with July 4, he does celebrate January 3, which is the birthday of the Bitcoin software. Jackson actually helped advocate for this date to be celebrated, to remind Bitcoin users to withdraw funds from exchanges into self-custody. In a meme popularized by Jackson, “No keys, no cheese.”

Jackson tells stories of people in the black community who have had their lives changed by Bitcoin. One of his favorites, he says, is a 15-year-old kid, who came to one of Jackson’s presentations in 2016 with his mom. The mom thought Jackson’s lecture on Bitcoin was interesting, but it was the son who called him every day for a full month after the class. The kid ended up buying bitcoin after working small jobs. By the time he was 17, he had made enough money through bitcoin to pay for college. Now he is 22 and runs his own web development company.

Another story Jackson tells is of his friend Justin, who went to jail for two years, but then when he got out, got into bitcoin. He learned about dollar-cost averaging, mining, trading, and even started a food truck in Charlotte, selling food for bitcoin. Five years later, Justin has his own book, his own series on Clubhouse, and a program to help inmates earn bitcoin while they are in jail.

“People don’t like to talk about the prison system,” Jackson says. “I have a cousin and a friend who are both in jail. They are trapped, but they have cellphones, and they can hold Bitcoin.”

Justin has helped many prisoners find a future through Bitcoin. The prison guards do search the belongings of inmates, of course, but many are allowed to have cellphones, and the guards are not always combing through their phone apps.

“From the time we had slave patrols,” Jackson says, “we’ve always had police that were there to keep the lower classes away from the higher classes. That ended up becoming racial. We do need our police, but for the black community, they have been the victim of the double standard of crack and cocaine laws, which put black men in prison for 40 years, while only giving 1 year for white men. There are millions of black people in American jails today for non-violent drug crimes. I’d like to see these people who are locked up supported by Bitcoiners.”

Even if that does not happen, Jackson says, they are finding support in Bitcoin. “Every great leader in the black community knows we need allies,” he says. “With Bitcoin, we have allies everywhere.”

Jackson sees Bitcoin as remedying some of the worst aspects of jingoism and nationalism that have plagued America over the decades, whether it be the warfare state or the prison-industrial complex. In his mind, Bitcoin can help us achieve a greater connection with the world around us.

“Technically,” Jackson says, pointing to his Native American descent, “my people were here first. Whatever this plot of land was, it wasn’t called America. And it may not be America forever.”

Bitcoin, he says, helped him change his perspective. “If you look at a map of the world,” he says, “most of the lines were drawn by a group of colonizersa long time ago.”

“These lines,” he says, “have nothing to do with me or my generation. But I’m a citizen of the world now. The lines don’t matter anymore.”

From Baghdad To Bitcoin

“My first introduction to America,” Faisal Saeed Al Mutar says, “was a tank in front of my house.”

Al Mutar was born during the first Gulf War, and his first contact with the Americans was during the invasion of his country Iraq in 2003, when he was 12 years old.

He had grown up under the dictatorship of Saddam Hussein, in an education system whose goal was to “create as many ignorant people as possible,” teaching only “how to be loyal to the president.” He says you always had to worship, and you always had to say Saddam was right, no matter what.

To illustrate the climate of fear he grew up in, Al Mutar says, “Let’s say that your father was against the president … he’ll ask the son to kill the father with a pistol, and ask the son to pay the price of the bullet that he killed his father with. That is the way that he could instill fear in the son and [force him to] show his loyalty to the president.”

Al Mutar could not access the internet or watch more than two state-controlled TV stations under Saddam. “It was hell,” he says.

But eventually, Al Mutar broke through the firewall. He called the open internet a “black market” for knowledge, which helped him develop a belief in using “reason, evidence, and scientific methods of inquiry — rather than faith and mysticism — in seeking solutions to human problems.”

The first foreign political text he came across was Thomas Paine’s “Age of Reason.” Al Mutar actually found it, along with writings from Orwell, on a heavy metal message board. This was his rabbit hole for discovering freedom. He became more inspired, starting a blog where he explored secular ideas, and even distributed copies of the American Bill of Rights to classmates.

Al Mutar credits his father for instilling in him the values of critical thinking. He would tell Al Mutar that if he was going to form a belief, then he would have to build the supporting evidence for that belief. You cannot just blindly believe. From these words, Al Mutar said he followed “a life of learning and not hating.”

When Saddam fell, he began to advocate for the separation of religion and state. “I advocated a lot for human rights, women’s rights, LGBT rights,” he said, “and that is not a friendly thing to do in the Middle East.”

At the time, Al Mutar often thought: “Why did America invade us, and not us invade them?”

After all, he comes from Baghdad, which was once the capital of the Ababasid Caliphate in the Golden Age of Islam. At one point, long ago, his people invaded and controlled a huge percentage of the planet, from the Atlantic Ocean to India.

“What the hell happened?” asks Al Mutar. “How did we move from a superpower to a failed state? How did we move from occupiers to occupied?”

When the Arab empire reached its peak, Al Mutar says, it built its power on science and inquiry. Algebra, the clock, the camera, paper maps, and surgery all came to the world through Muslim culture during its Golden Age. That, Al Mutar says, is when there was openness, inquiry, free thought, science and reason, and the separation of powers. And then, there was a long decay into religious dogma.

Al Mutar says he saw some of these same Golden Age attributes in the texts of the Founding Fathers. And this, he says, is why the U.S. is still dominating the world today.

During the occupation, Al Mutar would go up to American soldiers and ask a lot of questions.

“They would be sitting in a humvee and holding M16s,” he says, “but I was not afraid. I found the humanity in them. Some thought what they were doing was noble, others just wanted to pay bills. But after talking to so many of them, I didn’t see them as monsters trying to kill Iraqis. It was war. In war, it’s not good guys and bad guys, it’s very gray about who is good and who is bad.”

As he grew older, Al Mutar became a more outspoken atheist, founded the Global Secular Humanist Movement and became a target for Islamists over his writings and activities. “I survived three kidnappings,” he says. A Shiite by birth, Al Mutar and his family got fake ID cards made with Sunni-sounding names to clear Al-Qaeda–held checkpoints in their neighborhood.

Later, he said, his best friend was killed by radicals, possibly because they mistook him for Al Mutar. He ended up receiving death threats from Al-Qaeda and the Mahdi Army. His brother and cousin were killed in sectarian violence.

In 2012, Al Mutar finally fled Iraq and was admitted into the United States as a refugee. Over the past decade, he has founded and worked at a variety of organizations to connect activists from closed societies with Americans who can help them, and also to make knowledge and information accessible to individuals in the Arab World, who are, according to Al Mutar, surrounded by propaganda and fake news.

Most recently, Al Mutar founded the nonprofit Ideas Beyond Borders along with the Singaporean journalist Melissa Chen. Together, they have employed more than 100 young individuals to translate works on liberty, human rights, philosophy and science into Arabic, in total dozens of books and tens of thousands of Wikipedia pages. Al Mutar found inspiration for this work through the memory of the Bayt al-Hikma, or House of Wisdom, the storied Baghdad library that helped light up the Arab golden age.

Al Mutar tells the story of a famous bookshop that still operates in Jordan today, where Mein Kampf, the Protocols of the Elders of Zion and the Communist Manifesto are proudly displayed outside. Beyond the Quran, he said, these are the three most popular texts in the region. “This,” he says, “is the stuff people have access to. Maybe people at the American University of Beirut would disagree, but for the average person in the Arab world, this is the text they can access. It creates a climate of hate.”

Al Mutar says his goal is to “prevent refugee crises from happening in the first place, rather than dealing with refugees.” He points to the fact that less than 1% of internet content is available in Arabic. “Ideas and knowledge,” he says, “will defeat ignorance and extremism more effectively than tanks and guns ever could.”

Perhaps surprisingly, given his military introduction to America through an invasion of his homeland, Al Mutar has become a huge fan. He is immensely proud of becoming a U.S. citizen on June 26, 2019.

“America,” he says, “provided me and many others with a lot of opportunity and potential. I don’t think another country could have made the best of me. I’ve lived in Europe and Asia. There were always restrictions, always obstacles. It’s no surprise to me that immigrants can be so successful in America compared to other places.”

“I could focus on the negatives,” Al Mutar says, hinting at anti-Arab discrimination. “Yes, some people send me hate mail. But there are a lot of people who send me love mail. If you always think of yourself as a victim, you will only focus on the negative. I try not to do that.”

“The immigrant experience in America today,” he says, “is largely positive because of the opportunities that exist and the values that this country was founded on.”

“Look at gay rights,” Al Mutar says. “In the past 50 years, there’s been a huge change of mindset, and a sweeping trend in favor of legalized gay marriage. Compare that to countries in Africa or Asia or the Muslim world. There are still places where they have the death penalty for being gay.”

He argues that, despite all its flaws, the world is in a much better place because of American leadership. “The fact that you can not only protest but change policy is not available to the billions living under authoritarian regimes around the world,” he says.

“People disagreed with Bush, so they voted for Obama,” he said. “This option isn’t available for those living under Xi Jinping or Vladimir Putin. Will the Russians who were against the war in Syria ever vote him out? No, they don’t have that right. America is imperfect but the system allows for change which is different from the models of the other superpowers. We’d be living in a much worse world if the Soviets had won the Cold War,” Al Mutar says.

Looking back at America’s history, Al Mutar says that the evils that exist in the U.S. are not exceptionally American, that they, in fact, exist all over the world, and there is a case that can be made that America is one of the few nations that tried to move away from these evils.

“Yes, the Founding Fathers had slaves,” Al Mutar said, “but they also enshrined the concept of individual freedom. America leans good, because of its founding principles. To me, these principles are like the scientific method. They help the nation self-correct over time.”

“During their era,” Al Mutar says, “the thoughts of the Founding Fathers were absolutely revolutionary. The concept of individual rights was revolutionary. The world had never seen anything like it.”

“America,” he says, “was founded in a way in which the government should fear its people, not where the people should fear its government. This is the opposite of the society where I grew up.”

Recently, Al Mutar has grown an interest in how Bitcoin can play a role in helping to liberate people around the world. His organization handled the Arabic translation of “The Little Bitcoin Book,” and he has been exploring how to pay translators across the Arab world in bitcoin.

“Bitcoin,” he says, “is a tool that could spread American values more effectively than any war or intervention. I have seen how it can empower and connect people.”

He says it has a similar combination of innovation, anti-censorship and openness that made the American idea so great.

As the world continues to turn geopolitically, Al Mutar says we should consider how Bitcoin may benefit more open and free societies like America, that despite its flaws is based on enlightenment values, and how it may cause fatal issues for dictatorial regimes.

“Bitcoin expands free speech, property rights, individual sovereignty, open capital markets, and checks on government power. America was founded on these values, and can thrive with them. The Chinese Communist Party, Putin’s dictatorship in Russia, or the Kingdom of Saudi Arabia?”

“Not so much,” he says.

When asked who his favorite founding father was, he instantly says, “Thomas Jefferson.” The first thing Al Mutar did when he got to America, he says, was go to Monticello. He finds Jefferson especially inspiring on the subject of freedom of religion and compares his push for separation of church and state with Satoshi’s push for separation of money and state.

“Jefferson was not perfect,” Al Mutar says, “but who is?” He says slavery and the depopulation of Native Americans are the “original sins” of the United States. “These stories need to be taught and remembered,” he says, “but we cannot judge the values of those living three centuries ago with the values of those living today.”

“In 100 years,” he says, “we may look back at today and say that the t-shirts we are all wearing make us all immoral because they are made with slave labor. So are we any more moral than the founding fathers? Consider that,” he says, “in my part of the world, Mauritania didn’t outlaw slavery until 1980, and today so much of the Gulf cities are built with slavery, including the infrastructure for the upcoming world cup. Some say that Martin Luther King Jr. was homophobic — is that what we should judge him on?”

“No,” Al Mutar says. “We should acknowledge the evil and the good.”

Saddles And Riders

In 1935, the African American poet Langston Hughes wrote “Let America Be America Again.” Here are the final few lines:

“O, let America be America again — The land that never has been yet — And yet must be — the land where every man is free. The land that’s mine — the poor man’s, Indian’s, Negro’s, ME — Who made America, Whose sweat and blood, whose faith and pain, Whose hand at the foundry, whose plow in the rain, Must bring back our mighty dream again. Sure, call me any ugly name you choose — The steel of freedom does not stain. From those who live like leeches on the people’s lives, We must take back our land again, America! O, yes, I say it plain, America never was America to me, And yet I swear this oath — America will be! Out of the rack and ruin of our gangster death, The rape and rot of graft, and stealth, and lies, We, the people, must redeem The land, the mines, the plants, the rivers. The mountains and the endless plain — All, all the stretch of these great green states — And make America again!”

Hughes’s words speak to the theme of this essay: that we have a constant tension in American experience between the animating idea so noble and the reality so flawed.

To celebrate the 50th anniversary of the Declaration of Independence in 1826, Thomas Jefferson wrote:

All eyes are opened or opening to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few, booted and spurred, ready to ride them legitimately by the Grace of god. These are grounds of hope for others; for ourselves, let the annual return of this day forever refresh our recollection of these rights, and an unfinished devotion to them.”

But today we still have saddles and riders.

Jefferson’s own words reflect the ongoing imperfection of the American experiment, which has been lofty in ideals, but darkly tarnished in execution. The lead author of “all men are created equal” — and even the hand behind the pen that inserted a harsh condemnation of slavery into the Declaration of Independence, which was later removed by others — enslaved more than 600 people in his lifetime and did not free any of them upon his death.

The nebulous idea of America continues to defy simple black-and-white classification today. Even as Al Mutar is able to defend the greatness of America’s vision and freedom, Jackson shows how the nation has a great rot inside and asks us to think about how its systems are fundamentally broken for so many citizens.

In an amazing coincidence, Thomas Jefferson and John Adams both passed away on July 4, 1826, exactly 50 years after the Declaration of Independence was signed. They could not possibly have predicted the struggles we face today, more than 200 years later, nor how the trade-offs they made to get America off the ground would evolve over time into civil wars, foreign occupations and an increasingly centralized financial system.

What Jefferson, Adams, Al Mutar and Jackson could all perhaps agree on is that, as we go deeper into the digital future, the original Declaration of Independence is not enough.

A new declaration is needed. One rooted in personal freedom, openness, prosperity, opportunity, property rights and free expression; one opposed to slavery, discrimination, theft, double standards, confiscation and censorship.

A declaration that could change America, just as its own people changed it from a place founded on slavery to a place where slavery was outlawed.

A declaration that can empower the black community, just as it can help immigrants connect to their families back home in countries far away.

A declaration that could credibly claim a place next to the Statue of Liberty, alongside Emma Lazarus welcoming the huddled masses, yearning to breathe free.

In the end, Bitcoin may be that declaration, in the original American tradition of anti-authoritarianism and personal freedom, that helps finally rid us of our saddles and riders.

This is a guest post by Alex Gladstein. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.


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Bitcoin 2021: Bringing Bitcoin Innovation Home To America

Allan Stevo, U.S. Senator Cynthia Lummis (R-WY) and Rep. Warren Davidson (R-OH) discussed their ideas for bringing innovation to America.

This conference session took place on day one of the Bitcoin 2021 conference in Miami on June 4 and 5. Make sure that you set a reminder for the Bitcoin 2021 day two YouTube live stream now. Experience the #Bitcoin2021 party from anywhere in the world by joining our conversation on Telegram, and be sure to subscribe to our newsletter to stay on top of the latest Bitcoin news and all the happenings at Bitcoin 2021.

Watch this Bitcoin 2021 conference recording here.

In this Bitcoin 2021 conference speaker session, the conference had the pleasure of hosting two United States government officials, Senator Cynthia Lummis and Representative Warren Davidson, alongside Allan Stevo, author of The Bitcoin Manifesto. They discussed “Bringing Bitcoin Innovation Home To America,” talking about what they can do to entice investors and entrepreneurs to their country, as well as protect their investment.

“If we don’t protect private wallets, someone is going to try to ban them…I wish people were as adamant about protecting the right to privacy as they were about the 2nd Amendment, the right to bear arms,” warned Rep. Davidson. His warning resonated with a group which defends the right to privacy ferociously.

Senator Lummis spoke of a potential bitcoin backed reserve currency; “It’s important to have bitcoin underpinning the US dollar, as a store of value, the way gold used to be.”

Although this idea and many of the others discussed may not be entirely accepted by Bitcoiners, who generally do not accept the government, it was extremely interesting to hear from two policy makers. 

Join the #Bitcoin2021 party from anywhere in the world by joining our conversation on Telegram. Plus, be sure to subscribe to our newsletter to stay on top of the latest Bitcoin news and all the happenings at Bitcoin 2021.


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Why Decentralization Is Uniquely American

Hello everyone,

First of all, I appreciate Joe Rogers, and the Bitcoin Magazine team giving me a chance to contribute, even though I am a total newbie to Bitcoin. I am a passionate student of history, so my interest in Bitcoin started because of my political philosophy and my natural bent against relying on centralized government systems to the best of my ability.

Joe shared an article, “The Political Theology of Bitcoin,” which was very interesting to me, as it blended some of the political theory I have read and other sources I have not. The author quoted Thomas Hobbes, whom the founding fathers and I have studied, from his seminal book Leviathan: “Auctoritas, non veritas, facit legem (authority, not truth, makes legitimacy).” In 1927, Mao said, “Political power grows out of the barrel of a gun,” and in the very next breath, “Our principle is that the Party commands the gun, and the gun must never be allowed to command the Party.” Both of these statements highlight the basic historical fact that “might makes right,” whether by means of arms, financial control, or other centralized power structures.

Americans’ views that decentralization and self-reliance are essential values began as Western Europe started to colonize North America. A consistent theme was the colonists’ reliance on various manufactured goods they needed from the old world, so they shipped raw natural resources back to Europe and got the needed items back at a premium. Over the years, the frontier spirit continued to persevere, and communities became more self-reliant and decentralized as the means of production in communities expanded. The natural bartering of goods and services enhanced their communities. The colonies continued to expand, gaining representative government along with industry and increased self-reliance.

The American Revolution was not a fly-by-night movement. Depending on the interpretation, there was at least a 20-year buildup before the “shot heard around the world” on Lexington Green on April 18, 1775, which was fired as the British military marched in an attempt to preemptively seize private arms and supplies. One of the seminal moments in the lead-up to the Declaration of Independence was the Stamp Act, which the British Parliament passed in 1765; it directly taxed all legal documents, paper, and other centralized means of licensing and communication. Further restrictions on various manufactured goods continued, and the colonies improved their supply chains.

Humans are inherently imperfect, and I am biased, but I contend that the Declaration of Independence and United States Constitution are the best founding documents that humanity has written and enacted thus far. They were not perfect and have been supplemented over the years. One part of the constitution that has been overlooked and commonly abused is the 10th Amendment, which reads:

This is the conclusion to the rather short Bill of Rights, and it is a shining example of how important the theory and practice of decentralization was seen to be.

As America continued to expand, self-sufficiency and decentralized means of production continued to be important, and indeed, they have been central to our growth and continued success. As the years have passed, power has become centralized in both government and industry. The effects of this were starkly on display through 2020 and will continue to reverberate for years to come. The weakness that results from our heavy reliance on critical goods from global sources, particularly from China, the arbitrary and—in my opinion—unconstitutional power seizure by central government agencies, tyrannical orders by governors, and unchecked market manipulation by the Federal Reserve have contributed to a larger awakening of the need to return to our roots and reclaim those natural rights.

Some had seen hard times coming prior to the pandemic, made adjustments in their lives, and sought to decentralize their dependence. This could take many forms, such as buying more locally sourced food; participating in the Twitter #betonmainstreet campaign, which encourages people to pay cash at local businesses; or exercising more caution regarding where purchased products are made. Another real-world effect of this desire for decentralization and lack of trust in “the system” has been the flood of new users to Bitcoin and the use of bitcoin to pay for goods and services.

While I have always preferred using cash or barter, the reality is that there needs to be a digital payment option for doing business in today’s world. I was finally pushed past my Luddite thinking about Bitcoin when I finally started to learn about its possibilities, specifically the solutions that continue to be added and will function as a complete financial suite, including the ultimate goal of a circular ecosystem. I have much more to learn about Bitcoin, and this young Luddite is looking forward to your help in catching up as we all work in our own ways to reclaim our natural rights and put the government back into its proper, limited, and enumerated role of governing with the consent of the governed.

This is a guest post by Trevor Zantos. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.


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US exchanges are suspending or delisting XRP left and right

Binance.US, the American branch of the global crypto exchange, and crypto-friendly asset trading service eToro are the latest platforms to suspend XRP trading in the U.S.

Announcing the news on Thursday, eToro revealed that U.S. customers will not be able to trade XRP on Jan. 3, 2021. Customers with existing trades at the time will have three weeks from that date to close all open positions, the platform added in its statement.

For Binance.US, the effective date of its XRP delisting is Jan. 13, 2021. However, the delisting will not affect the claim process for the Spark FLR token airdrop distribution event.

Binance.US and eToro now join the likes of Coinbase and Bittrex as major exchanges to halt XRP trading for American traders. Coinbase is also the subject of a lawsuit from a disgruntled trader accusing the platform of knowingly selling XRP as an unlicensed security to its users.

These actions have come in the wake of the enforcement action by the Securities and Exchange Commission against Ripple. The SEC is suing Ripple for violating securities laws in its sale of XRP tokens.

Aside from exchanges delisting or suspending XRP trading, U.S.-based investment firms with XRP positions have also liquidated their holdings. Digital asset manager Grayscale recently dumped about $5.77 million worth of XRP tokens following the SEC lawsuit. Earlier in December, Bitwise Asset Management sold off all its XRP, removing the token from its Bitwise 10 Crypto Index Fund.

Meanwhile, Ripple says it plans to fight back against the SEC’s accusations, urging investors not to accept the Commission’s stance in the matter. A virtual pretrial has already been fixed for Feb. 2021.