Bitcoin dominates the US dollar: USD has lost 99% of its value since 2013

Bitcoin hit a new all-time high this year. The year 2020 turned out to be a driver for the BTC price and the combination of all external factors such as US monetary policy, rising household debt and global uncertainty caused by Covid-19 led to a veritable boom in demand for the number 1 crypto currency.

Edward Snowden, probably the best-known whistleblower in history, discussed the Bitcoin / US dollar trading pair in a recent tweet. Snowden showed that the leading currency of the 21st century can record a massive loss against Bitcoin Circuit.

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Bitcoin and US dollar: BTC shows strength

The Bitcoin software has been live since January 3rd, 2009 and thus this day counts as the birth of BTC.

Edward Snowden’s motivation to leave his previous life behind and to face enormous psychological and financial consequences was probably the goal of educating people.

To educate people about a policy of information gathering that has no privacy, but only national interest

And out of this motivation, Edward Snowden is also a proponent of Bitcoin. Because the cryptocurrency, which was designed by Satoshi Nakamoto in response to the financial and banking crisis of 2007/2008, is a digital concept of money that does without governments.

Bitcoin (BTC) is therefore the answer to economic repression policies that can be based on the strength of the dollar.

And so Snowden posted a tweet on December 7th about the dollar value in BTC via Twitter.

Crypto-technologies protection wall – Coinbase joins Square’s alliance

Coinbase wants to support COPA in its fight against the aggressive use of patents.

The „Cryptocurrency Open Patent Alliance“ (COPA), led by the payment service provider Square, has gained the large crypto exchange Coinbase as a new member.

Square had founded the „Alliance for Patent Freedom in Crypto Investor the Crypto Industry“ in September in order to establish a defence mechanism for the crypto industry against the restriction of innovation through patents.

Coinbase legal counsel and COPA board member Brittany Cuthbert announced the alliance in a statement on Friday:

„In an ever-growing crypto-economy, we believe it is important that all projects have the necessary freedom to build an open financial system. […] We look forward to working with the other members of COPA to create a protective wall for basic technologies in our crypto industry“.
A patent often provides the applicant with long-term protection for his innovation, prohibiting competitors from offering similar products and services or from using certain technologies. Since the crypto industry is originally based on a freedom concept, many technologies in the industry are open source, i.e. freely usable. However, many large companies have now filed patents for their innovations, including for example Block.one and Samsung.

In this context the statement explains:

„COPA is convinced that the success of crypto-currencies depends on the crypto-community joining together to build on existing technologies and to create new innovations. However, this will not be possible if some companies make basic technologies inaccessible through patents“.