Global Protests Reveal Bitcoin’s Limitations

  • Protests in Hong Kong, Lebanon and Iran have forced cypherpunks to test censorship-resistant technologies in the wild. 
  • But protesters on the ground found they lack internet access during times of civil unrest.
  • Bitcoin has mainly proven useful for receiving value from abroad to hold and privately store.
  • Sources in Lebanon and Iran said there is scant liquidity, and since they are cut off from global exchange platforms, digital assets are rarely useful as currency.

In the face of censorship and isolation from their countries’ financial and communication systems, protesters across the globe are testing out bitcoin and other decentralized technologies – then promptly discovering their limitations. 

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