“It’s clear to me now that I was too hasty to completely dismiss crypto on the basis of all the things wrong with it at the moment. He noted that some of his biggest arguments against Bitcoin were the cryptocurrency’s energy consumption, transaction fees, the lack of real decentralization, supposed fraud involving Tether (USDT) stablecoin and many others.īut all these arguments do not provide enough reasons to disregard cryptocurrencies as a tool to support freedom and democracy in situations where countries like Canada impose martial law in response to peaceful protest movements, Hansson argued, stating: In a blog post titled “I was wrong, we need crypto,” the Danish programmer mentioned that he’s been skeptical about Bitcoin and the crypto industry in general since the early 2010s. And for me to have to slice a piece of humble pie, and admit that I was wrong on crypto’s fundamental necessity in Western democracies.” “I still can’t believe that this is the protest that would prove every Bitcoin crank a prophet. And for me to have to slice a piece of humble pie, and admit that I was wrong on crypto’s fundamental necessity in Western democracies,” Hansson wrote. What the hell is happening to Canada’s banks right now? on Rails creator makes a U-turn on Bitcoin due to Canada’s financial crackdown on COVID-19 vaccine protesters.Ĭanada’s move to freeze Bitcoin (BTC) wallets and bank accounts related to the COVID-19 vaccine protests is driving cryptocurrency adoption, with some crypto naysayers reconsidering their stance on Bitcoin.ĭavid Heinemeier Hansson, the Ruby on Rails web development framework creator, took to Twitter on Monday to tell his followers that he was no longer a Bitcoin skeptic. Related: Crypto community condemns Canada for freezing dissidents’ Bitcoin ( $0.00 ) walletsĪccording to some reports, Justin Trudeau’s financial crackdown on vaccine protesters could have triggered bank runs among the major banks in Canada and ATMs going offline. Morgan Creek Digital co-founder Anthony Pompliano also pointed out previously that authoritarian moves by countries like Canada are “Bitcoin’s marketing team.”Īuthoritarian governments are Bitcoin’s marketing team. But still shows the situation in Canada is going to accelerate Bitcoin ( $0.00 ) adoption,” crypto podcaster Neil Jacobs noted. “Tons of falsehoods in this article about Bitcoin. Hansson’s transformation from a Bitcoin ( $0.00 ) skeptic to a Bitcoin ( $0.00 ) supporter in response to Canada’s invoked Emergencies Act is another example of the growing crypto adoption fueled by the somewhat excessive involvement of the state. Instead of appreciating the fundamental freedom to transact that it’s currently our best shot at protecting.” He noted that some of his biggest arguments against Bitcoin ( $0.00 ) were the cryptocurrency’s energy consumption, transaction fees, the lack of real decentralization, supposed fraud involving Tether (USDT) stablecoin and many others.īut all these arguments do not provide enough reasons to disregard cryptocurrencies as a tool to support freedom and democracy in situations where countries like Canada impose martial law in response to peaceful protest movements, Hansson argued, stating: In a blog post titled “I was wrong, we need crypto,” the Danish programmer mentioned that he’s been skeptical about Bitcoin ( $0.00 ) and the crypto industry in general since the early 2010s. “I still can’t believe that this is the protest that would prove every Bitcoin ( $0.00 ) crank a prophet. Canada’s move to freeze Bitcoin ( $0.00 ) (BTC) wallets and bank accounts related to the COVID-19 vaccine protests is driving cryptocurrency adoption, with some crypto naysayers reconsidering their stance on Bitcoin.ĭavid Heinemeier Hansson, the Ruby on Rails web development framework creator, took to Twitter on Monday to tell his followers that he was no longer a Bitcoin ( $0.00 ) skeptic.
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