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𝕏Ɖ Is The Resistance
THIS is why Doge and 𝕏 are the answer to financial censorship
The practice of de-banking is a growing scourge: with alarming regularity, Banks are cutting people from essential services for the crime of having the wrong opinions.
As de-banking has worsened, a countervailing force has emerged: 𝕏 is becoming a censorship-free digital bank, and Doge a censorship-resistant form of money.
Let’s take a look at why 𝕏Ɖ is the resistance movement to financial panopticon.
Last Tuesday, I posted a video of Elon saying that 𝕏 will fight financial censorship.
Elon wrote back, “Lot of merit to decentralized control.”
Financial censorship sounds dystopian, but it has become increasingly common in recent years.
2022 was bookended by big public episodes of de-banking: the year started with Canadian banks freezing donations to the Canadian Trucker’s Protest, and ended with JPMorgan Chase booting Ye and his Yeezy brand. We also saw PayPal institute a bizarre policy that allowed it to fine users $2500 for “misinformation.”
This year, Chase shut down the business bank accounts of alternative health practitioner Joseph Mercola, one of the White House’s “Disinformation Dozen.”
Around the same time, British politician and Brexit leader Nigel Farage uncovered evidence that his Coutts bank account was closed because of his political views. Farage launched a petition on his website accountclosed.org calling for an inquiry into the practice of de-banking.
We know about these cases of de-banking because they involve public figures. It’s anyone’s guess how prevalent financial censorship is among regular folks who don’t make it onto the radar.
De-banking is spooky because it removes a person’s ability to participate in public life.
Access to banking services is a required for everything from getting a credit card to making purchases like a house/car to running a political campaign.
Big banks have been propped up by taxpayer-funded bailout programs in recent years. They shouldn’t be allowed to shut off an essential service just because they don’t like someone’s opinions.
One of the promises of 𝕏 is that it offers the possibility for a censorship-proof banking system.
Simply by existing as an anti-censorship bank, 𝕏 could discourage de-banking because competitors know they’ll lose customers if they get a bad reputation.
Thinking bigger, 𝕏 could become an entire uncensored economy. The platform’s new branding suggests a limitless digital emporium the likes of which humanity has never seen.
Dogecoin is an important part of this equation.
Unlike most forms of money, Doge doesn’t belong to any one country. Instead, it runs on decentralized nodes across the world.
Dogecoin is as borderless and global as the Internet itself. That multiplicity makes it resistant to censorship.
It’s relatively easy for a few big banks to gang up and de-bank someone. Pulling off the same thing with Dogecoin would require a coordinated effort to shut down Doge nodes everywhere in the world at once.
Dog money isn’t what what most folks have in mind when they imagine fighting Big Brother, but it’s the most entertaining way to oppose dystopian censorship.
Resistance movements sometimes take on a dark quality that comes from fighting long battles with steep odds. Doge benefits from a natural levity that keeps the revolution positive and peaceful.
Dogecoin is at its strongest when it’s in constant circulation.
A likely first step for 𝕏 is to integrate tipping, which would get Doge moving on the platform.
Tipping represents the informal and unconstrained movement of money between people. When given as a gift, money is harder to censor.
Tips brighten everyone’s day. The more folks receive Doge tips, the larger the community becomes.
Over time, as the daily volume of tips grows, people build positive associations with the currency. These good vibes are often expressed through memes, the community’s essential creative activity.
Last Wednesday, Elon revealed that 𝕏 is working on implementing tipping. When tipping goes live, it will take the platform to the next level.
De-banking is a growing scourge in the world. Banks are playing god by deciding who does and doesn’t have the right to get paid.
𝕏 is a counterbalancing force to this destructive practice, holding the promise of a free marketplace of ideas, goods, and services.
To truly break free of Big Brother, the Internet economy needs an alternative form of money with inbuilt protections against censorship.
Doge is the world’s leading decentralized dollar alternative. Tipping is the best way to onboard millions to the Dogeconomy.
As the Doge community swells to millions or even billions of people, it will become impossible for state actors to control, the sum economic activity of its participants greater than any single nation.
For maximum freedom, 𝕏 is the bank. For max fun, Ɖ is the money.
Dogey Treats: News Bites
Jack Dorsey and Brian Armstrong continued their conversation about using crypto to upgrade global payment infrastructure. Armstrong agreed to implement Bitcoin Lightning Network on Coinbase.
Coinbase filed to dismiss its the SEC’s lawsuit against the company. In a post, Coinbase legal officer Paul Grewal said the SEC violated its own precedent in bringing the lawsuit: “By ignoring that precedent, the SEC has violated due process, abused its discretion, and abandoned its own earlier interpretations of the securities laws. By ignoring that precedent, the SEC has trampled the strict boundaries on its basic authority set by Congress”
PayPal announced a plan to issue its own dollar-backed stablecoin, called PayPal USD.
Australia is making efforts to eliminate cash.
A new Futurama episode featured a town called “Doge City.”
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This article was written in collaboration with @CryptoDogDivine, give them a follow!
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Disclaimer: This is not financial advice and I am not a financial advisor. The article above references an opinion for entertainment purposes only and it is not investment advice. Always assume that the author of the article is actively trading and that the opinions expressed may be biased towards the author’s holdings. Do your own research and consult with a licensed financial adviser before making any investment decision. Do not treat any opinion expressed in this newsletter as a specific inducement to make a particular investment. Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or cryptocurrency or to engage in any particular investment strategy. The information provided is not warranted as to completeness or accuracy and is subject to change without notice. The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, are not guaranteed for accuracy or completeness, do not reflect actual investment results and are not guarantees of future results. All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, cryptocurrency, or financial product does not guarantee future results or returns. Dogecoin is a speculative and highly volatile asset susceptible to pump-and-dump schemes.
At the time of publication, Dogecoin is around $0.08 per coin.