On Friday, GoFundMe froze the trucking convoy’s official campaign to raise funds.  Covered:  GoFundMe rug pulls campaign, freezes funds PR on a platter for Bitcoin, Monero GoFundMe Rug Pulls Campaign, Freezes Funds The need for crypto is displayed writ large in the decision by GoFundMe to freeze and even seize the funds of thousands of […] The post Opinion: GoFundMe Pulls Trucker Donations; Proves Dire Need For Crypto appeared first on CryptosRus.

Opinion: GoFundMe Pulls Trucker Donations; Proves Dire Need For Crypto

On Friday, GoFundMe froze the trucking convoy’s official campaign to raise funds. 

Covered: 

  • GoFundMe rug pulls campaign, freezes funds
  • PR on a platter for Bitcoin, Monero

GoFundMe Rug Pulls Campaign, Freezes Funds

The need for crypto is displayed writ large in the decision by GoFundMe to freeze and even seize the funds of thousands of people who donated millions to an ongoing protest in Canada of the Trudeau administration. Governor Ron DeSantis of Florida went as far as to call for an official investigation.

Subsequent to this tweet and extreme pressure on GoFundMe, they announced they would be issuing refunds, rather than seizing the money. The protest has garnered support from Elon Musk, who unabashedly sided with the protestors, calling those behind getting the funds seized “professional thieves.” 

It goes without saying that the protests aren’t without their complications. The convoy has forced small businesses to incur even more losses — and now face lawsuits. Not to mention, their blockades have foisted a whole host of issues for paramedics. Democracy is messy.

Still, the whole debacle with GoFundMe highlights the fundamental use case and need for crypto. As Bitcoin Magazine said: “the peer-to-peer, uncensorable nature of a Bitcoin transaction could be, should be and is being put to use by the thousands of convoy cohorts and their financial supporters across the continent.”

Recommended: Immutability, Decentralization, and The Bored Ape Yacht Club

PR on a Platter For Bitcoin, Monero 

This is, served up on a platter, a massive and accidental endorsement for crypto,  decentralization and DAO’s. Sending money to one central authority like GoFundMe who can arbitrarily seize it, cancel it, or redirect it seems insane on its face. Many people are starting to see the light. This is a great PR moment for crypto. 

The separation of state and money is what this is all about. The convoy didn’t break any TOS with GoFundMe, the company was coerced by the Canadian government to have the money frozen. The authorities in Canada more or less admit this outright, as seen in the below tweet.

Bitcoin and other very decentralized and private coins like Monero will shine in the face of ever-increasing scenarios such as this one. Everyone talks about the shiny new object, whether it be the metaverse, NFTs or game-fi. However, the main purpose of bitcoin and crypto all along was separating money and state and circumventing centralized bad actors.

There is no use case more important than that. The convoy and those who want to donate have already been orange-pilled, it seems. According to FinBold, “using Tallycoin, the fundraising campaign is now able to receive all Bitcoins straight into wallets in which they retain ownership of the keys.” The campaign has already raised more than 2 BTC and likely will explode as these stories continue to come out.

“All of the Bitcoin raised will be held in a wallet that will need several signatures to spend the funds raised.” The group now must coordinate how the funds will be used. It will be spent on purchasing fuel and food for the truckers who are lingering the bitter Canadian cold.

Whether you agree with the truckers or not, this is why crypto is necessary.

Recommended: Monero – One Of The Most Underrated Crypto Assets

The post Opinion: GoFundMe Pulls Trucker Donations; Proves Dire Need For Crypto appeared first on CryptosRus.