Bitcoin Is Your Best Defense Against the Mass Surveillance Society
By: Sylvain Saurel
Tags: Blockchain, Privacy, Investing, Bitcoin, Cryptocurrency

Bitcoin Is Your Best Defense Against the Mass Surveillance Society

Few understand this.

Illustration by Sylvain Saurel

The Bitcoin price reached a new All-Time High on December 1, 2020, just under $20K. Bitcoin has experienced an incredible bull rally since the beginning of October 2020 as its price went from $10.5K to almost $20K in a few weeks.

During this bull rally, the Bitcoin price has increased by almost 90%. Since the low of $3.8K reached in March 2020 during the liquidity crisis that hit the world, the Bitcoin price has increased by +425%.

At the time of writing, the Bitcoin price has begun what could be the beginning of a major correction with a price just below $18K. If this changes slightly the increase figures I have just presented for the Bitcoin price, my message is still relevant.

This sharp increase in the Bitcoin price is due to what is called smart money. Whales, institutional investors, or even billionaires were the main players in this bull rally.

Retail investors have not yet returned en masse to the Bitcoin world, as was the case during the 2017 Bull Run.

The current price of Bitcoin at around $18K appears to be much more sustainable than it was at the end of 2017. We are not in the middle of a speculative bubble that will eventually burst. If the correction in the Bitcoin price continues, we will not go lower than the $13.5K — $14K zone in my opinion.

The next step will be a return to a bull market for Bitcoin in the year 2021.

Bitcoin’s excellent performance in the midst of an economic crisis of a magnitude not seen in decades has changed the mindset of many legendary Wall Street investors. Bitcoin has imposed itself in their eyes as the best hedge against monetary inflation.

Wall Street’s biggest dogs all need Bitcoin for the upcoming years. A majority of these investors decided to choose Bitcoin over gold.

Bitcoin is seen as a 2.0 version of gold capable of delivering a 25x gain over the next decade, as the Winklevoss twins recently reminded us.

The arrival of PayPal has been a key catalyst in this bull rally. Throughout November 2020, PayPal would have purchased for its customers the equivalent of 70% of the newly issued Bitcoins. This is huge, and it makes many people forget that the purpose of Bitcoin is not simply to be a high-performance asset.

Bitcoin’s biggest value proposition in 2020 is clear: Bitcoin protects your wealth from the ravages of monetary inflation in a way that is resistant to censorship.

Everyone who comes to buy Bitcoin today understands the first point. However, many forget the second point, which I believe is even more essential.

In the world of the future, everything will be digital. The money will end up being fully digital at some point. At that point, your alternatives will be more than limited. On the one hand, you will have central bank digital currencies (CBDC) and on the other hand probably corporate digital currencies such as Facebook’s Diem.

Whether you use one or the other of these digital currencies, you will face mass surveillance from States or large companies.

Governments around the world see CBDC as a tremendous opportunity to better monitor (and censor if they need) all of their citizens’ financial transactions. A unique opportunity to put an end to cash. Without realizing it, you can be censored even more easily than with the current banking system.

Your wealth may be confiscated for arbitrary reasons and you will not be able to carry out the transactions of your choice.

I have already warned you about the dangers of buying Bitcoin via PayPal. At the end of November 2020, we had the first example with a user who had his account banned and his funds confiscated for 180 days. Guess the reason that was given by PayPal? This user made too many transactions in one week.

For PayPal, it seems that making 10 transactions with cryptocurrencies is too many. It is rather ridiculous you will admit it.

In any case, this user had every right to do that. It was his hard-earned money. So he can use it any way he wants. However, this is not guaranteed with a platform like PayPal. Buying Bitcoin with intermediaries like PayPal therefore places you at the same risk as with the current banking system.

You are protecting yourself from monetary inflation, but you are locked into a system where censorship can reach you at any time.

Satoshi Nakamoto created Bitcoin to allow humans to regain control over their future money. This means owning the private keys to your Bitcoins to have total control. To achieve this level of control, you must accept responsibility for the security of your wealth.

By supporting the Bitcoin revolution, you are helping to build a system that will allow you to protect yourself from the mass surveillance society that will come in the future. With Bitcoin, you acquire a weapon that will allow you to use your money as you wish without the risk of being censored.

Many people seem not to understand this yet. Yet it is an essential part of Bitcoin. To open your eyes to this point, you need to be able to see Bitcoin beyond the mere financial investment. I must admit that this is not always easy, as the Bitcoin price tends to attract our full attention.

Nevertheless, this is what you need to do to really become aware of the importance of Bitcoin for the world of the future. If you can do this, then you will understand why you must always be in control of the private keys of your Bitcoins.

This will give you access to the best defense against the mass surveillance society that is being built for the world of the future.