The creator of the Ruby on Rails web framework, David Heinemeier Hansson, has said that the negative position on Bitcoin amid the situation with protests in Canada is erroneous:
“I still can’t believe that this is the protest that would prove every Bitcoin crank a prophet. And for me to have to slice a piece of humble pie, and admit that I was wrong on crypto’s fundamental necessity in Western democracies.”
Actions against anti-COVID restrictions initiated by truckers have been taking place in Canada since the end of January. On February 15, the country’s Prime Minister Justin Trudeau invoked the Emergency Act of 1988, which gives the government enforcement powers and allows banks to freeze the personal accounts of anyone associated with or supporting demonstrations without a court order.
Canadian Finance Minister Chrystia Freeland said that this law covers “crowdfunding platforms and payment service providers, all forms of transactions, including digital assets such as cryptocurrencies.”
Hansson has recalled that since the beginning of 2010, he was skeptical about Bitcoin and the crypto industry as a whole. According to him, the main arguments against were “energy consumption during mining, transaction fees, lack of real decentralization, alleged fraud using the stablecoin Tether (USDT)” and others.