Bitcoin has seen an unidentified US adoption that established a “strategic bitcoin reserve,” but some well -known Bitcoin advocates believe the project has moved away from its roots.
Earlier this year, Jack Dorsey, a Bitcoin proponent and founder of Twitter, Says That he believes that Bitcoin has become just a form of “digital gold” then the project fails. He said a national bitcoin national reserve could be “good for the country-state, but I don’t know if it’s good for Bitcoin.”
Dorsey argues that Bitcoin needs to return to white paper and work in being a peer-to-peer cash form that can be explained worldwide if it wants to be a success.
Worldwide, a number of “circular bitcoin economies” are only working – the development of local economies that use Bitcoin as money in an attempt to show flexibility and what BTC will look like.
Bitcoin White paper puts a cash system. Source: Bitcoin.org
Bitcoin Circular Economies and Wall Street
The Bitcoin Federation Call A bitcoin circular economy a “local economic ecosystem where bitcoin (BTC) is used as a medium of exchange, an account unit, and a store value.” That is, a place where Bitcoin fulfills three duties of money, as it understands.
There are different Bitcoin communities and circular economies around the world, but their goal is that they all believe that Bitcoin is the better form of money and it should be used “as a means of payment for goods and services and for regulating other financial obligations.”
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This method of using Bitcoin as a currency is diverting from an existing attitude to the United States, where crypto advocates view it as a reserve owned by maard -similar to digital gold. President Donald Trump told the Nashville Bitcoin Conference in July 2024, “Never sell your Bitcoin.”
https://www.youtube.com/watch?v=SDC7DFUFUFTC
In a lecture of March 17 at the Bitcoin Policy Institute, Strategy CEO and Bitcoin Maximalist Michael Saylor Compared The digital currency in an investment asset. A significant stake, each Saylor, will allow the owner – like the United States government – to control the digital economy with another “manifest destiny.”
When asked if the mass of the masses of a country like the US takes on Bitcoin from the principles of founding, Isa Santos, founder of the Bitcoin Isla project on Isla Mujeres, Mexico, said:
“Yes, but that’s the beauty of Bitcoin. It’s for your enemies too.”
Stelios Rammos, the founder of the Bitcoin Crowdfunding Project Geyserfund, said good or bad, the adoption of governments is “inevitable.”
“Bitcoin is for everyone, and the main principle of its establishment is not permission to have less money. The adoption of Bitcoin of governments is inevitable, and if there is a button we can press to say that governments are banned from Bitcoin, ‘then it will not be Bitcoin,” he told Cointelegraph.
However, he believes that the Bitcoin community has a basic set of values that promotes indigenous people’s adoption of the government’s well -being, adding that Bitcoin is at a stage where bitcoiners should be more concerned about how it was adopted than if it had been adopted.
“Circular economies will play a major role in playing a future in which Bitcoin is held and used by day -to -day people, and not only held as a purely owned within digital vaults to large banks and governments, “Rammos said.
However, both said there were visible benefits to the Bitcoin government’s adoption. Santos said adoption from a large country like the US can still be positive for many to look at the US as leader in the financial world.
Rammos said the US who adopted Bitcoin will increase awareness of seminal cryptocurrency, which benefits the entire network and has knock-on effects for circular economies around the world.
What does Bitcoin do for these communities?
Bitcoin’s circular economies are present worldwide. They get a particular basis for developing economies where local currency is not reliable as a value store.
In Cuba, where inflation is Runaway and the salary is in irreversible lows, bitcoin and bitcoin circular economies allowed local to protect their savings.
In the countryside of Peru, where most people do not change ie do not have a bank account or access to financial services, Bitcoin has provided One way for locals can save their money and pay for school and sunny costs.
There are challenges, however. In particular, Bitcoin’s well-known volatility makes it difficult to sell as an instrument for saving in rural communities, according to Valentin Popescu, co-founder of motivated motivations-a Bitcoin education and Peru advocacy group.
Bitcoin communities are also faced with the challenges of growing outside the group of expats and lovers of Bitcoin already present. Bitcoin advocates have locked El Salvador, where Bitcoin Beach provided the first prototype for a bitcoin economy. However, it was not translated to local bitcoin users.
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Bitcoin circular circles spread around the world. Source: Geyser fund
In addition to the successes and challenges facing these communities, many of them also offer financial education programs and community development initiatives.
Santos said “every circular economy has its own unique features. They need to serve the needs of the communities that make them.” He said that a common factor in such communities volunteered.
Bitcoin Ekasi, a bitcoin circular economy in South Africa, supports the local Surfer Kids community project by paying the salaries of Bitcoin coaches while simultaneously riding local shops and sellers to accept Bitcoin payments.
Rammos said these communities could place less known locations on the map, which attracts tourism through “Bitcoin expats” who want to spend their Bitcoin and grow the local economy.
“Ultimately, local populations are derived from being a circular bitcoin economy as long as Bitcoin networks benefit from having them, this is a real symbol,” Rammos said.
Whether it’s Wall Street or Main Street that drives the adoption of Bitcoin, the end of the goal for the organizers who run these communities is the fully integrated with Bitcoin in the financial world.
Rammos concluded, “There will be a point in the hope that it will not be a very distant future, where we will no longer need the term circular economy, it will only be the Bitcoin economy, or justly, the economy.”
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