In 2020, everybody has heard of Bitcoin, the unstoppable financial tool that has increasingly gained independence and recognition on a global scale.

It seems that the revolution against government restraints has triumphed, as we now have a currency that continues to resist oppressive financial institutions’ regulations. Thanks to cryptocurrency, money can be exchanged directly and is outside of governmental control as “The People” hold complete authority, and no bank can ever get their grubby hands on what is not theirs.

Owning Bitcoin has become a statement of independence, a rebellion against all institutionalised hegemony — a truly beautiful narrative where the little guy stood up against the big man and won. 

Or at least, that’s the narrative that we like to believe in…

It all started in October 2008.

The first paper mentioning Bitcoin was shared with the world.

What seemed to be an introduction to a solution for easier online payments, was, in fact, a tool that could be used to replace traditional financial institutions. After reading the paper, some critical thinkers started speculating about the possible opportunities that this tool could introduce. An idea to break away from shuttered and corrupt banking infrastructure by giving the power to the masses was born. At first, it was discussed in small circles, whispered about in dark corners, but eventually, talks sparked and started spreading across the globe like wildfire; nobody realised that at that moment, this was indeed a declaration of independence from the strenuous global banking regime. The first adopters were oppressed, persecuted, and outcasts of society. Little by little, the general public joined, and in the blink of an eye, a new financial infrastructure had taken shape.

This was no longer a movement; this was a revolution.

But unlike traditional revolutions, this one could not be contained; there were no headquarters, no leaders, and no targets that could easily be taken down in order to halt the movement.

Governments had a hydra on their hands; for every head that was cut off, two more grew in its place…

All of this started over ten years ago, and after all this time, Bitcoin has still not been exploited to its fullest potential. In fact, governments have turned the revolutionary narrative into a fairy-tale and buried it behind the bars of insurmountable laws and policies.

Here are some obvious facts that make the statement of Bitcoin nothing more than another fable that has crumbled over time, and no longer represents what it was meant to.

Here is the simple story of what it really means to be a holder of Bitcoin.

To purchase Bitcoin, you need to go to an exchange. 

Before being able to make a purchase, you have to verify your identity: this requires you to provide a government-issued ID, and usually includes requirements for proof of residence, proof of income, and additional paperwork. The process is not much different from that of opening a bank account. The excuse for these requirements is to comply with: KYC (Know Your Customer), AML (Anti Money Laundering), and CFT (Combat the Financing of Terrorism). This goes against core principles of Bitcoin; to be anonymous, non-discriminatory, and to have no borders. By having these restrictions in place, Bitcoin can no longer be purchased by anybody from anywhere, for any reason.

If you are already in possession of Bitcoin and would like to sell it for fiat cash, the process is just as difficult; you would have to go to an exchange to sell your Bitcoin.

The same KYC, AML, and CFT requirements are put in place. But an additional obstacle comes into play: you are required to provide proof of how you came into possession of the Bitcoin… Once more, this violates another very core principle: the freedom to sell your Bitcoin.

To add insult to injury, every Bitcoin transaction is being carefully tracked and mapped out by the government.

If the coins you own, at any point in time, went through a blacklisted or flagged wallet, you could potentially be detained and investigated on why you were to try selling the Bitcoin, leaving the burden of proof on you. You could then even be considered guilty of one or numerous crimes, until you succeed in sufficiently arguing and proving your innocence.

This does not just violate the principles of Bitcoin, but it violates your personal rights as well.

It would almost seem that a sandbox was created for this "Bitcoin rebellion". One where you would need to be checked in and out by your parents every time you came to play. When it comes to Bitcoin users, governments have made it implicitly clear that they see nothing but a guilty party attempting to do something illegal, which is why they have cleverly created complications/pitfalls with every step of the way for the adoption of Bitcoin by an average consumer. As a holder of the coin, you are automatically stigmatised as holding a dubious distinction of being up to some sort of suspicious activity, one of which the burden of proof of innocence falls on you, each and every time that you transact.

But what if you wanted nothing more than complete control over your own legit transactions? What if the beautiful narrative Bitcoin promised you was your key to independence?

One should obviously not have to prove their innocence every step of the way. In the past eleven years, Bitcoin has gained more popularity and credibility as a financial advancement, but unfortunately, it has not yet become the ultimate financial solution it was intended to be. And that is, for the simple reason that it is not fully operational unless converted into fiat currency, at least until it can maintain a self-sustainable economy.

The ultimate Bitcoin revolution is facing obstacles, and at this point, it requires strategic alliances to prevail in its fight.

Cashing out through cash-for-Bitcoin trade deals has been a popular way to outwit prying banking and KYC requirements for a while now. However, the struggle of finding a buyer to meet in person and making sure you don’t get swindled, makes it almost worth the invasive banking procedures and the three-day wait for wire transfer verifications.

The near future looks promising.

Up-and-coming organisations are the hidden weapon that will help Bitcoin not only survive the metaphorical war with government restrictions, but to also vanquish imposed regulations and fulfil its long-awaited destiny.

We must not forget that the war is as of yet not over, that many battles will still ensue, and until the final victory call rings across the globe, we will need to rely on the help of supporting entities that do everything in their power to make life a little easier for all Bitcoiners.