Nigel Farage talks Bitcoin at Amsterdam BTC conference
In an interview with Peter McCormack, Nigel Farage characterized Bitcoin as the ultimate freedom. In his view, Bitcoin provides an apolitical path toward economic liberation.
This (Bitcoin) is an economic insurgency that is being driven and led by people that are worried about the size, scale of big government. They want to be free, they want to be independent. Masters of their own destiny. ~ Nigel Farage.
He observed that it is going to take a lot of effort for Bitcoin to become mainstream. According to him, a great deal of educational effort is necessary to familiarize the masses with Bitcoin's value. The extent of ignorance about Bitcoin is deep, extending its reach even among the political and policy-making circles. Which is a recipe for potential over-regulation.
Nigel pointed out that whenever the mainstream media covers Bitcoin, it's almost always in a negative context. For example, whenever the price of Bitcoin sees sharp declines, it will be reported as a scammy project where people lose their money. In other cases, it will be branded as a product with no real utility outside criminal activity. As a result, people still associate Bitcoin with illegal activities.
The worry, I think with Bitcoin, is painted as the wild west, the haven of criminals. All these negatives; so I think the education campaign cannot come soon enough.
I think Bitcoin is completely apolitical, but a big job needs to be done.
Still, he argued that those who say Bitcoin is worthless ignore the weaknesses of the legacy fiat system. Which in his opinion has alienated the economic options of the majority.
He lauded Bitcoin as the ultimate freedom, as governments cannot directly 'touch' it. The direct opposite of Central banks digital currencies (CBDCs). He expressed his fears that concerns that CBDCs would be used by governments to erode economic freedoms of their citizens, further.
He encouraged Bitcoiners to explore 'clever' routes of lobbying for sensible regulation. In his opinion, such opportunities are possible in the USA, the UK, and perhaps in Latin America.
Nigel Farage & Peter McCormack discuss Bitcoin during Amsterdam's BTC conference
First published on Oct 14, 2022