Bitcoin only needs one thing to succeed, Edward Snowden says

Bitcoin Is Marked As A Survivor Of The Crypto Crash But Will It Last Long After This? According to whistleblower Edward Snowden, the small orange piece still needs to aim bigger.

Bitcoin: one last detail to save the coin

The first cryptocurrency is starting to recover after a last weekend characterized by huge losses for investors. Since then, Bitcoin has been clinging to $20,000 and the crypto sphere is already starting to talk about bottom. The future still remains uncertain for the coin and even if its survival during the crypto winter is not in question, it is the aftermath that worries.

For whistleblower Edward Snowden as for many crypto enthusiasts, the crisis hitting the industry is good news. Indeed, the least serious companies or those able to last go bankrupt. Those who profit from the crypto sphere in the one and only but make money are forced to change their plan. Small projects that only aim to make a profit should not survive. While serious projects work and build. But how to guarantee that after the crash, everything will not start again as before?

In a talk during TNW 2022 held in Amsterdam recently, Edward Snowden hypothesized. For him, it is urgent to think things differently so that the phenomenon does not happen again – although it has happened after each bear market. In order to make Bitcoin last, only one thing is missing: we must stop seeing it as an investment but as a functionality that benefits society. According to the whistleblower, only those who have understood this and want to have the coin appraised for the long term will survive.

Everyone talks about getting rich and going to the moon. How is it going to be if no one is actually using these things functionally? And they work well – they work better year after year for the purposes for which they are actually intended. […] Every expert understands that this is a problem, but – as experts – they themselves know how to offset the risk in their own personal interactions with Bitcoin, and therefore feel no urgency to solve it.

Excerpt from Edward Snowden’s speech at TNW 2022

Source: TNW Twitter account

In other words, the whistleblower urges getting back to Bitcoin fundamentals. This should not be seen as a speculative way to make money but as a digital design. The small piece being born in the but of being exchanged and discreet, it must therefore preserve its identity and its initial utility.

Edward Snowden’s request could be achievable

As the crypto sphere cleans up and the bigwigs call for more useful services for society, Edward Snowden’s proposal seems adequate. Bitcoin and other cryptocurrencies seem so close to the abyss that there is indeed an urgent need to rebuild the industry on new foundations. To survive, Bitcoin needs worldwide support. Its daily use will be a real change of mentality: the population will see that crypto is not just a venal industry but a technology that could save money.

The population, on the other hand, would be ready to use digital currencies as a means of payment. According to a report by The Economist carried out among 3,000 volunteers from around the world, 36.6% of participants said they were waiting for their government to make Bitcoin legal tender. In France, crypto is already offered as a means of payment in a shopping center. The functional use of the room is therefore far from a dream, although it still requires some effort.

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