The German financial metropolis Frankfurt am Main glows orange. The Bitcoin logo shines on the glass facade of the European Central Bank (ECB). “Bitmain” (@Bitman_bob on Twitter) sends a clear signal to Christine Lagarde and literally shows her a decentralized alternative. In addition to the monetary guardian of the euro, the bitcoin collective is also targeting the skyscrapers of Deutsche Bank. The banking crisis left its mark on the money house, the share price collapsed, a savior seems urgently needed: Bitcoin is ready.
“We want to get citizens we don’t reach through our social media channels to engage with bitcoin as an alternative to fiat currencies. Because the current system stands for inflation, centralization and power monopolies,” comments “Bob” from the “Bitmain” collective (name changed by the editors) on the action.
Banking crisis: Bitcoin as a solution?
After the collapse of several major US banks and the bankruptcy of the Swiss banking giant Credit Suisse, the financial world is in crisis. Because: The bank run makes it clear that the minimum reserve system can only function with sufficient trust.
Bitcoin has set out to solve this problem. One of his guiding principles: “Don’t Trust, Verify!” Users do not need to rely on a vulnerable system or a central administrative party like the state. Instead, trust in cryptocurrency arises from the transparency promise of blockchain technology. In addition, the definite scarcity of the cryptocurrency creates a demand to hedge one’s assets against inflation, similar to gold.
It is not without reason that Satoshi Nakamoto created the cryptocurrency in response to the Lehman Brothers bankruptcy. Now, around 15 years later, supporters like “Bitmain” are reminded again why Bitcoin as an alternative to fiat money is so relevant to society.
After conquering Berlin: Third Bitman action
It is not the collective’s first action. The famous Bitcoin-B was already projected onto the Berlin TV tower at the end of January. In mid-March, the highly frequented traffic hub at the Warsaw Bridge will be lit up in orange.
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