Whether you’ve followed Bitstocks from the start or you’re new to our fold, one word you’ll have come across fairly often is sovereignty. It’s a concept, and a promise, that I strive to ensure is at the heart of every business decision we make.

Gravity, our Bitcoin banking ecosystem, for example, is a tool designed with the explicit purpose of empowering people on a path to sovereignty. 

But sovereignty is one of those tricky concepts; it’s open to interpretation and often confused with an anarchist approach. This is most definitely not the Bitstocks way, and I’d like to take this opportunity to set the record straight on what sovereignty is and is not, as we see it, of course.

What Sovereignty Isn’t

Sovereignty doesn’t mean tearing down governments, all systems of hierarchy, and living without any central point of authority in place. On many occasions, I’ve warned of the dangers of blanketing entire governments as ‘bad’ or ‘evil’. This simply isn’t true, and they do have their place in society. The true gift of Bitcoin, and the possibility of these institutions eventually conducting their business using Bitcoin Satoshi Vision, is that we (the public) will be able to monitor and assess the polarity of their actions and intentions. For the first time, we have sight. And with that sight, comes the responsibility to hold malevolent actors accountable. 

But that’s a post for another day. 

So, sovereignty doesn’t mean the right to wreak havoc, infringe on the human rights of others, or to operate in statelessness. It doesn’t mean a disregard for all levels of authority, government or our fellow human beings. 

 

What Sovereignty Is

Before putting this post together, I asked my staff what sovereignty meant to them - I’d like to share some of their responses. 

“Knowledge, understanding and control over your decisions.” - David Arakelian, CTO 

“Being sovereign means independence to me, despite any country I live in or come from.” - Arianna Recchia, UX/IU Designer 

“Not having to justify or negotiate who I am and what my values are. This is my life, and I’m living it my way.” - Liz Louw, Digital Content Strategist 

“Being sovereign means that the power is limited by no one else’s.” - Julien Riposo, Quant Trader (R&D) 

“To me, being sovereign means self-ownership in all aspects. A sovereign individual is one who has the right to ownership of his/her property, data, money, time and most importantly, identity and self.” - Emmanuel Alamu, Head of Products and Sales 

“Full control of my decisions, Being fully independent without having to abide by the system, within reason.” - Dean Shillingford, Office Manager 

“The ability to exercise free will, acquire knowledge on my terms, access and interact with my money, and live my life according to my values, without infringing on the rights of others.” - Vee Tardrew, Marketing Editor and Support Lead 

“Sovereign means being the unequivocal owner of your time, possessions and mind.” - Anish Patel, Head of Compliance 

You’ll notice a common thread. Sovereignty, at its core, relates to individual ownership, accessibility and accountability across many, if not all, aspects of our lives. 

Sovereignty: Education, Information and Knowledge

I’ve often spoken about the importance of not taking information or education at face value and seeking knowledge outside of traditional structures. It’s equally important to share your views, irrespective of any fears you may have about being labelled as ‘controversial’, or just plain ‘crazy’. These judgments purely come as a direct result of the social conditioning the masses have, for the largest part, conformed to. We’ve been ‘trained’ from our youngest years to dismiss any information that challenges a commonly-held - and agenda-driven - narrative. 

To step outside your comfort zone of enforced knowledge and seek information that takes a broader view on the way the world really works is a crucial step in a path to sovereignty. And I don’t only mean political or economic matters.

I encourage people to start looking at knowledge and information holistically. Science, music, mathematics, the origins of humanity, religious studies - they’re all intertwined. As you begin to connect the dots, a vastly different picture begins to emerge than the one we’re led to believe is the truth. 

 

Bitstocks, as a whole, serves to be primarily an education house; a trusted voice in philosophy and thinking. We seek to offer information about Bitcoin as a financial mechanism and how and where this technology fits in as a solution to many of the global challenges we face. 

Sovereignty: Finances and Economics

Gravity, our Bitcoin banking ecosystem, fulfils another part of our mission: to empower individuals on a global scale. While still in its infancy in terms of application, Gravity is envisaged to be a tool of financial sovereignty, offering a host of everyday financial products, backed by the power and scale of the Bitcoin Satoshi Vision (BSV) network, and plugging the holes of the traditional financial system. 

Failures of Fiat Currency

One of the (many) downfalls of fiat currency is that its value is localised, depending on the country. When you consider this from a global perspective, and each currency as a frequency, it creates distortions in the way that people can price their services, goods, or products. And while the Internet may have provided a wider landscape for trade, the comparative value of local currencies, combined with the high volatility of bitcoin, continues to put those in countries with already weak currencies at an economic disadvantage. 

Money is Time

When we truly consider what money is, it boils down to time. 

The more skilled you are, the less time it takes you to complete a task, project or outcome, and as such, you can charge a higher rate for your time. But this doesn’t help in a global landscape where the value of local currencies differs from region to region. 

Now imagine tokenising all local fiat currencies on the Bitcoin network. Each Euro, Pound, Dollar or Yen (and others) in existence represented on the immutable BSV blockchain. Because of the transparent and, therefore, verifiable nature of BSV, we (as the public) can independently evaluate the live reserves of the banks’ assets. This accountability is a game-changer, forcing banks to change their behaviour as customers choose to not bank with over-leveraged institutions. A beautiful feedback loop develops where central banks have to align closer to government policy, which in turn has to be more aligned with public liberty and freedom. 

At a technical level, this opens the door to something fiat currency does not allow - micropayments! On top of bitcoin, the smallest denomination of a fiat currency, a penny, for example, can be broken down to the eighth decimal, or £0.00000001. With this available, people are no longer restricted to charging for their time by the hour, or even the minute. Payments for seconds or even milliseconds become possible!   

When you hook this functionality up to something like, let’s say, for example, a streaming channel, this becomes powerful. Suppose that instead of tying yourself into monthly contracts, you only pay for what you watch. Get 45 seconds into that movie and just know it’s not going to cut it for you? No problem. Hit the stop button, and you only pay for your viewing time. 

It may not seem so groundbreaking when it comes to your Netflix fix, but what if we think bigger? Quantum computing, perhaps? 

Today, you can rent supercomputing power for around $2,000 an hour. Not too bad - if you’re a millionaire, that is! But what if you’re a university student writing your dissertation on quantum computing and you simply needed 5 minutes to test your hypothesis. You don’t want to sign up to long-term contracts, nevermind the fact that you simply can’t afford those rates. Enter micropayments! If the company providing the computational power offered non-contractual use with per-second billing via a bitcoin payment interface … voila ... our university student would simply pay for his usage, and get his gown at graduation! 

This type of model can be applied to hundreds of different services, many of which are currently inaccessible to most because of affordability restrictions, location or other political hindrances. But can you envision the potential innovation explosion when opened to the masses?

This is an element of economic sovereignty; where access is on equal footing, irrespective of your ticket in the geographical lottery of life!       

And then there’s the more traditional financial sovereignty of building your own wealth — money that belongs to you, and you alone.  

That’s what we’re looking to offer through our Introducer Programme. 

Gravity’s Introducer Programme

While at first glance you’d be forgiven for thinking this is merely another referral programme, (simplicity is the name of the game for us), it’s structured in such a way as to harness the brilliance of Bitcoin’s economic incentive system. Anyone you introduce to Gravity (your proof of work), becomes your referral and you’re paid in BSV, daily, a percentage of the transaction fees they’ve paid within the Gravity ecosystem (your economic incentive). Naturally, as you grow your network (building density in the ecosystem), you’ll earn more BSV, expanding your wealth, and as a result, establishing a greater level of financial sovereignty. 

The benefit here is that with more financial means, you free up more of your time, as you’re able to allocate the money to resources to outsource the work you would prefer not to do. In turn, your time can be used for activities you cherish, to pursue your passions and build on your dreams. 

And that situation is the ultimate blessing of true sovereignty. 

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