Bitcoin Is An Unstoppable Non-Violent Resistance Movement

There is a new global civil rights movement that aims to protect the sovereignty of all  human beings.  The philosophical ideology of non-violent resistance was utilized by Martin Luther King to pass the Civil Rights Act of 1964. Non-violent resistance became a sociopolitical trend afterward. Civil Rights leaders all over the nation peacefully boycotted and marched all over America to countervail the control authority of a flawed justice system. From 1966 to 1999, nonviolent civic resistance played a critical role in fifty of sixty-seven transitions from authoritarianism.

Bitcoin is an asset that utilizes non-violent resistance by protecting a monetary network through electric power projection.

Instead of demonstrating sit-ins to expose the absurdity of 20th century Jim Crow Laws, bitcoin uses a proof-of-work consensus mechanism to protect a Trillion-Dollar monetary network without projecting kinetic (violent) power, simultaneously exposing the absurdity of 20th century monetary policy. 

Since the beginning of recorded history, the winners of large-scale violent periods in history (war) usually resulted in economic spoils and technological breakthroughs. There is a monetary and social incentive, however amoral it is, to conduct war operations.

However, war is a horrible reason to incentivize technological advancement. Why should humans have to kill other humans on a massive scale before new technologies are created and utilized? Bitcoin offers the world a much more attractive incentive to build on top of technological advancements.

Bitcoin adoption has the potential to bring large-scale violence to an end and may one day be considered the most efficient form of nonviolent resistance. 

Jason P Lowery has held the controversial contention that kinetic violent energy was the only way to countervail the attack of an oppressor until the creation of bitcoin

However, MLK and other Civil Rights Leaders in the 20th century utilized non-violent demonstrations to countervail control authority of an oppressor and amend laws. 

In regards to the Civil Rights Movement, Attorney Richard Cohen points out that “The violence was being perpetrated by the oppressors, not the oppressed. And that was an incredibly powerful message and incredibly important tool during the movement.”

Although we are fortunate to live in a country that has an abundance of energy and resources, it is obvious that the United States Government has been the oppressor when it comes to the overall strategy of monetary policy. By establishing a monopoly on violence, our government has been able to exploit American Citizens through taxation and inflation, among many other flawed forms of monetary policy.

Jamila Raqib, executive director of the Albert Einstein Institution, contends that “non-violent [resistance] works by destroying an opponent. Not physically, but by identifying the institutions that an opponent needs to survive, and then denying them those sources of power.” 

Satoshi Nakamoto understood that the government needs banks to control the monetary infrastructure. Bitcoin defies government protocols by taking the power out of the banks hands and allows self-sovereignty for all those who subscribe to the network.

Bitcoin is a new iteration of non-violent resistance. Non-violent resistance is just another “clever form of power projection.” 

The multidimensional characteristics of bitcoin are what make it so unique and special. A non-violent resistant protocol has been able to put the power back into the hands of the people it represents, which further indicates that non-violent resistance is in fact a valid protocol for positive change and innovation.  

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Record-High Ordinal Volumes Push Bitcoin Higher

Ordinals have continued to surge in popularity on the bitcoin blockchain in recent month. With over 520,000 inscriptions recorded as of March 21, 2023, the trend continues growing. Ordinal inscriptions enable the embedding of arbitrary data onto the blockchain, such as text, photos, music, video, and applications.

Ordinals: The Original NFT

Unbeknownst to many, Bitcoin ordinals are as old as the Bitcoin blockchain. Satoshi Nakamoto, the pseudonymous creator of Bitcoin, included a message in the coinbase parameter of the first-ever Bitcoin block (the “Genesis” block). The message read, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

Ordinals are the original NFTs and they will emerge as a leading factor in increasing the amount of volume procured on the Bitcoin network. Ordinal inscriptions basically enable anyone to put any form of information onto the Bitcoin blockchain. Text, photos, music, video, and apps are all examples of Bitcoin ordinal inscriptions. 

Increased Ordinals Volume Key Indicator to Bull Market

Bitcoin ordinals are a key indicator that we are heading into a new bitcoin bull market. On February 4, 2023, the total number of Bitcoin ordinals created on the blockchain was a mere 2,512. As of March 21, 2023, the total number of bitcoin inscriptions was about 565,686. An increase in the total number of inscriptions by over 22,000% in a little over 45 days. 

At present, text-based inscriptions account for over 40% of all Ordinal inscriptions, while PNG-based inscriptions make up 31.1%, with approximately 162,615 inscriptions in this format.

Ordinal transaction fees have also increased by a significant amount. On January 16th, 2023, Ordinal fees accounted for just $17 on the Bitcoin blockchain. Just two months later, on March 16th, 2023 Ordinal fees amounted to $91,700 and accounted for 11% of all daily transactions fees on the network — a 539,000% increase in Ordinal transaction fees.

Ordinals Could Enhance the Value of Bitcoin

While Ordinal skeptics fear that putting images on the blockchain have a number of downsides, the popularity of Ordinal inscriptions seems unstoppable. Galaxy Digital forecasts that Bitcoin-based non-fungible token assets using Ordinal inscription technology could reach a $4.5 billion market by 2025.

The massive increase of Bitcoin inscriptions are certainly based on market demand, though the question remains how sustainable it is. For many, the increase in inscription volume is seen as an additional layer of usefulness for people who are interested in leaving their mark on the Bitcoin timechain. 

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