The Vote on the Repeal of Net Neutrality
Going through the government is a bill that would repeal net neutrality in its current state. Proposed by the FCC, it would change the management of network traffic to allow for restriction and control of websites and data users can view and receive, effectively allowing large companies such as verizon and comcast to manipulate speeds and what is viewed by their users. This can lead to a multitude of negative effects as it allows these companies to increase charges and provide favoritism to those carrying a heftier wallet, restricting many of those not as fortunate as others to access the plethora of information the internet has to provide. Although not a direct attack on human rights, such a measure would serve to limit our ability to express them as it restricts our access to the globe and its communications.
Recent Bitcoin Inflation
A recent trend in the crypto-currency market shows a heavy inflation and rise in the price of bitcoin, reaching thousands of more dollars in a relatively short time period. This trend can be attributed to the impending net neutrality vote, as it carries two possible effects. Firstly, if the bill is to be enacted, dark web transactions and usage will heavily increase as users flock to it in order to continue their browsing freedom and indirectly fight against net neutrality. Secondly, many users of bitcoin are seeking to complete transactions and purchases now just in case the dark web itself is to be targeted in these measures, creating an extreme demand for bitcoin which will cause heavy increase in its value (assuming that the value is not subject to being "sticky" as transactions are instantaneous.
What Does This Mean For Bitcoin?
Depending on whether the bill is passed or not, it is uncertain to tell what the long term effects and correlation of this bill and bitcoin are. However, currently it is in an extreme incline, and it is strongly recommended to invest in it currently as stable trends within the crypto-currency market are few in far between. Make sure to retain caution and watch the progress of net neutrality, as in an instant because of it the value could drop.
