The post-pandemic world has flipped the way our society has worked for years now. While the world economies were receiving the blows of poverty and unemployment during the pandemic, cryptocurrencies proved to be a haven for investors that reduced the risks. It was not very long until these currencies caught the eyes of the world powers. While the governments of world countries, like the United States, India, and China, are constantly incriminating cryptocurrencies, the world is set towards the Great Reset intended to redesign our economy. This mammoth scheme has been brought to our attention due to the adverse effects of the pandemic on the world economy.
The Great Reset is a millennial knockoff of the good old communism promising a world of non-ownership, great happiness, fair chances, and a greener future. Experts around the world believe that this reset would bring us to a society similar to that of the Chinese social credit system. Officials around the globe are concerned about cryptocurrencies as it brings a viable alternative to the distant, utopian dream of the Great Reset. So, the assaults on Crypto powers like Bitcoin have increased in recent times. But many believe that these fortifications by world governments have only strengthened the impact of cryptocurrencies lately.
The anti-crypto groups have been trying to incriminate cryptocurrencies as enablers of illegal activities. But, in truth, cryptocurrencies are not anonymous but pseudonymous, and the details of every transaction are stored on the blockchain irreversibly. Fiat money, on the other hand, is one of the largest enablers of illegal activities currently. Despite the substantial answers to such allegations, the hostility towards financial freedom and decentralization keeps getting fiercer every day. These allegations essentially originate from a singular source, the central banks.
Another popular mechanism used against cryptocurrencies, especially Bitcoins, is the question of sustainability and energy consumption. Such narratives promoted by prominent personalities create doubts and fear in the minds of the investors. However, bitcoins are a digital currency whose infrastructure can be improved and made compatible with the needs of the time.
The bill passed in the White House on the 28 of July in 2021 offers new deals for the essential sectors for the development of the country. This package of 1.2 trillion dollars brings more funds and policies for industries ranging from transportation to construction. However, there is one controversial aspect to it concerning cryptocurrencies. The bill seems to have intentionally kept the portion about cryptocurrencies vague to have legal leverage over them. Anyhow, it is not the first attempt to curb the growth of cryptocurrencies through political measures. The Biden administration had passed the bill on ‘Domestic Terrorism’ in June, whose vagueness could easily define anyone with investments in cryptocurrency as a threat to the nation.
The pervasive belief among politicians and bureaucrats views cryptocurrencies as undermining the value of the central reserves. On the contrary, cryptocurrencies only promote independence and transparency during transactions. Despite such oppressing situations and natural calamities, Bitcoins have been more expansive than ever in the last couple of years. Backed by the online communities, the Bitcoin forecasts are positive about the currency reaching $100,000 in 2022.
The emergence of Bitcoins is believed to be a force of nature releasing us from the fear-mongering forces. Because the attempts of a cyber community soon reached such a level as more people actively invested and fervently defended the currency against all odds. With open, peer-to-peer, uncensored connections, Bitcoins emerged to be a tremendous force, even outdating the institution of central banks.