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(Kitco News) – Nick Spanos, Founder and CEO of Bitcoin Center in New York, said he was on a mission to help bring about the demise of the Federal Reserve due to the financial wreckage it has caused over the years. year.
Spanos first realized the Fed was a problem during the stock market crash of 1987, which evaporated the wealth of blockchain innovators and forced him to become a commercial fisherman to pay the bills.
Years later, Spanos recalled hearing a reporter say that if Alan Greenspan’s briefcase was wider, we might not have had the crash.
“Allen Greenspan’s briefcase made me a fisherman,” Spanos said, which ignited the fire of anger inside that led the Coin Center creator to decide he wanted to “do something.” to get rid of the Federal Reserve”.
“It sounds a little crazy, but I’m crazy,” joked Spanos.
This led to years of working with politicians to start a Fed movement that led to the creation of a Ron Paul-drafted bill calling for an audit of the Fed. It passed in the House but ultimately failed after it failed in the Senate.
“I spent many years, over 20 years, fighting the Federal Reserve in my own way, organizing protests and organizing legislation,” Spanos said. “And nothing happened. I thought I had ruined my life at some point.
But the more he thought about the situation – how hard people work their whole lives to have it all taken away “with the snap of a finger” – the more determined he became to make a difference.
It was then that Spanos decided to take a different route which ultimately resulted in the creation of Bitcoin Center in 2013, the first live cryptocurrency exchange in the United States with an office just 100 feet from the Stock Exchange. from New York. A Netflix film titled Banking on Bitcoin documented this journey.
“I brought Francis Suarez into Bitcoin. The Mayor of Miami opened the first blockchain center in Miami,” Spanos noted to show the positive effects of his new course of action.
It also led to a wider understanding that what Spanos was fighting against was centralization. “With centralization, the world is a delimitable place. So before centralization, you know, people weren’t really working that much, I don’t think,” he reflected.
Spanos went on to cite centralization as the cause of many things, including the deaths that resulted from the creation of the Great Pyramids and the introduction of the wake-up bell to go to work during the industrial revolution – which they then introduced into the school to get people used to working on a fixed schedule.
Fast forward to today and you have the implementation of smart cities, which Spanos calls “watch cities,” as well as central bank digital currencies (CBDCs), which it calls “security currencies.” surveillance”.
“There are places you won’t be able to shop and some things you won’t be able to buy,” he warned. “They will control what you want to buy.”
But there is a silver lining to CBDCs, according to Spanos: they will attract more people who want to avoid oversight and limitations in Bitcoin and decentralized currencies. “It will bring adoption. So it will be a better, easier and faster on-ramp,” he said.
He went on to refer to people’s use and provision of the central bank system as “Stockholm central bank syndrome”.
“People think they can store their work through time in these lithographs of deceased people. And if time is money, as they say, every time they print more money, they rob you of time,” he warned. “Everyone has to embrace decentralization.”
This brought the discussion back to the subject of Bitcoin – which Spanos says is “one hundred percent totally decentralized” – and to the broader crypto market, which has been under pressure lately.
Much of the conversation at mainstream outlets has confused recent issues with the FTX cryptocurrency exchange with Bitcoin, giving blockchain technology a bad name.
“FTX is not Bitcoin,” he exclaimed. “It’s a database that a kid controlled. And the assets, he did what he wanted. You must promote decentralization. Because it’s the only way to survive here.
More than anything, the collapse of FTX is the same old story that has been happening in the mainstream financial system for decades. “Centralized exchanges collapsing, spending other people’s money – it’s an old thing that’s been happening forever,” Spanos noted.
“You have to control the narrative in your mind and move forward now, because the future depends on you. There are generations after that depend on this moment in time right now. Because if we don’t break free not with the open blockchain and permissionless, they are going to imprison us and oppress us with the closed data silos – like the one that just collapsed,” he said, referring to FTX. “Data silos which they are going to call blockchain.”
“So if we don’t get free with the one without permission, they’re going to imprison us and control us with the closed one,” Spanos warned. “It’s our chance, it’s the chance of humanity. It is your responsibility.
He then called on a new generation to take up the torch and continue this fight and not suffer the oppression that has weighed on humanity for centuries.
“All that happened is the legacy financial system. FTX is a legacy financial system. It’s not bitcoin. It is not a blockchain.
The Bitcoin Center founder went on to explain how blockchain actually played a role in FTX’s downfall in days, as opposed to the 10 years that Bernie Madoff got away with his fraud despite reported suspicions to the SEC.
“No one has done anything to [Madoff] because they couldn’t prove it. As for Sam Bankman-Fried, “he fell in an afternoon,” Spanos said.
“So the blockchain works, everything works, we are right. We must be bold, tall and be a beast” capable of devouring the other beasts among us, referring to the centralized printing press and central banks.
Above all, Spanos called on everyone to fight for “self-sovereignty and ownership of our lives and our future”.
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