When bitcoin, along with all other cryptocurrencies, began to sink a few months ago, they are not among those who despaired. I hadn’t lost anything. While following the events with attention and curiosity, I have never invested a euro in the critpo. Anything. Nor am I among those who confidently say that this is a hoax or a danger: I simply did not understand the mechanics of cryptocurrencies enough to be able to make a judgment as sharp as that of Warren Buffett, the prince of investors, who recently said. : I wouldn’t trade all the bitcoins in the world (valued one trillion just six months ago) for $ 25. I mean, I’m trying to understand.
How to resist cryptocurrencies?
by Riccardo Luna
And I was very impressed by the open letter to the US Congress signed by twenty-one human rights lawyers from twenty countries. These are brave people who work in difficult places like Afghanistan, Palestine, Venezuela, Iraq, Nigeria, North Korea, Turkey and of course Russia and Ukraine. The meaning of the letter is that in authoritarian regimes or where there is very strong monetary instability, bitcoins and other cryptocurrencies anchored by the dollar (stablecoin) are a fundamental tool of freedom. in the words of the Ukrainian Lyudmyla Kozlovska, “Bitcoin is not just a technology, but a tool that literally saved the lives of many Ukrainian citizens” at the beginning of the conflict.
This does not mean, say the signatories of the letter, that cryptocurrencies are risk-free, but the creation of a decentralized monetary system is essential to challenge tyrannies and strengthen resistance for all those people who cannot have access to dollars or EUR. It’s an important, sobering letter as politics in various countries set about deciding the fate of cryptocurrencies.