Mickey Koss is a West Point graduate with a major in Economics. He served in the Infantry for 4 years before moving to the Finance Corps.
In my first article, I compared Bitcoin to the US Constitution and talked about the properties of the asset that make it so suitable for service members. This Memorial Day, I’d like to take a moment to explain what the day is all about. More than just another federal holiday marking big sales in refrigerators and mattresses, it’s a day to remember those who fell while serving the country. Definitely a serious tone, but I think a day is best served with a cold beer and a few friends. Service members I know would have appreciated that.
The US military is the last line of defense for freedom and defends the Constitution against all enemies, both internal and external; Bitcoin can serve as the first line of defense for freedom – a nonviolent tool that can deter violence and control. It is not only a hedge against currency devaluation, but also a hedge against tyranny.
Freedom as Responsibility and Moral Obligation
Owning Bitcoin allows you to be your own bank and is a heavy responsibility, just like protecting freedom. Ironically, on this holy day, the banks we rely on to hold our money for us are often closed during the day, keeping us away from what we have by extending those awkward and inconvenient weekend hours. Bitcoin never sleeps. It operates 24/7/365 on a more reliable network than the Federal Reserve’s own wire system.
While it is very easy to leave your coins on an exchange, if you only buy bitcoin and never store it, you leave yourself open to numerous attacks. One of the most insidious in my eyes is the self-custodial ban or takeover of exchanges as a sort of regulator, the potential to effectively turn bitcoin into another meme stock that must be held by a third-party custodian. In the process, the peer-to-peer decentralized nature of the network breaks down for millions of potential users across the country, if not the world.
The Freedom Convoy truck driver protest in Canada was a prime example of something along these lines. The protesters’ bank accounts were frozen and their wallets flagged, making daily life nearly impossible. Additionally, subsidiaries who donated as little as $50 have also seen their accounts frozen. Some were poisoned or even lost their jobs.
You see, when your money is in banks and investment accounts, it’s not actually yours. It is owned by the banks – the custodians – and you have been granted access at their behest and the government. For these custodians, allowing access to your funds is an improper privilege that can be revoked at a moment’s notice. It is a testament to how powerful Western nations have become, and a cautionary tale of what can happen if you find yourself in the outgroup in case of heated conflict.
While the First and Fourth Amendments to the Constitution guarantee freedom of speech and protect against wrongful searches and seizures, they are still a possibility and are largely the purpose of the law and the court system. Even if you’re within your rights, getting justice done can cost months, if not years, of court cases and millions of dollars in attorney fees.
From Anarcho-capitalists to Communists, whatever your views, whatever your political leanings, Bitcoin has your back. It is a completely voluntary censorship-proof, peer-to-peer, electronic money system. It is a digital carrier instrument if you use it correctly. This is just a tool; A tool that doesn’t discriminate and doesn’t care who you are or what you believe. Bitcoin is just a tool; just a tool that does. It exists everywhere and nowhere at the same time. All you have to do is learn.
While the Second Amendment types will say it exists to protect all other rights through the implicit threat of violence, Bitcoin is fundamentally different. It actually deters violence because it cannot be forcibly removed from the population on a large scale. Large-scale search and capture is becoming prohibitively expensive. It is perhaps the largest peaceful protest in human history and the best way to preserve freedom. Loss of freedoms typically requires violence to restore; Choose peace by buying and holding Bitcoin.
Freedom Requires Evidence of Work
Not just bitcoin and HODL can be bought with a roller coaster ride. About a month after my wife and I decided to save our money in bitcoin, we had a pretty bad crash. The most interesting aspect of the accident was not the fear and uncertainty I experienced, but rather the excited indifference of my wife that suggested we should get some more.
When I first presented the idea to him, he had reservations to say the least. He pulled back, asked great questions, and got me digging. I researched more, dug together, and after doing the work, we were able to decide together. It was a requirement to build faith and confidence to withstand the storms and to build the foundation of freedom. I wouldn’t have been able to do this without his skepticism. I couldn’t have lasted without his support.
If you can’t give your wife the orange pill, you probably don’t understand bitcoin well enough to withstand the storm. Whether out of your own fear or their fear, you will inevitably sell at times when opportunities are highest, locking in losses and sealing your destiny. If you want to be your own bank, you must do the work first and build faith if you want it to last. Even better, if you’re married, it’s probably best for you to do this together.
Reviving the Dream: Bitcoin and the American Spirit
For many, it’s no secret that the American dream is getting harder and harder to achieve. Millennials, in particular, feel the pressure as they delay milestones such as getting married, having children, or buying their first home. I see it every day with my friends and colleagues.
Buying Bitcoin can and will help you get closer to your goals. Lasting long enough to make a difference just takes a little bit of work and proof of work. So where to start? Do your homework. I like to only recommend Bitcoin companies now to help curb marketing and scam. River Financial and Swan Bitcoin are two of the best. I also love BlockfFi’s credit card, Lolli and Fold, to get Bitcoin back the money I would spend. An example would be purchasing Amazon gift cards on Fold with my BlockFi card, saving cash on all our Amazon purchases with a combined 3% bitcoin return rate.
Another challenge for you is to form a habit of historical and financial literacy. Once you’ve established your baseline, you can graduate to holding your own keys. BTC Sessions taught me everything I know about it and has helped others do the same. But once you have your own keys in hand and understand the past, you will truly be able to HODL through the storms and become a sovereign and free individual, which will make it much more difficult for your freedoms to erode over time.
Every purchase you make is a vote for the future you want. By buying and holding bitcoin, holding your keys, and reclaiming your own sovereignty, you bring the country back to a solid monetary standard that could do a lot to solve our divisive problems. You also make it harder for tyranny and government to go to extremes. You are planting seeds for a better tomorrow. You are re-enacting the American dream.
This is a guest post by Mickey Koss. The opinions expressed are their own and may not necessarily reflect the views of BTC Inc. or Bitcoin Magazine.