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Ruby on Rails Creator Takes a Stand on Bitcoin after Seeing the Response of Canada to Freedom Convoy

Ruby on Rails Creator Capitulates on Bitcoin After Seeing Canadian Government's Response to Freedom Convoy

Ruby on Rails creator says that the current situation in Canada is terrifying and a wakeup call. He stressed that he would have doubted the credibility of a peaceful protest in Canada three weeks ago if he said it could have resulted in martial law, bank accounts being frozen, and terrorist financing laws being used to hunt down protest donors.


‘I Was Wrong, We Need Crypto’

David Heinemeier Hansson, the creator of Ruby on Rails (DHH), admitted that he was wrong about cryptocurrency and bitcoin.

Ruby on Rails (or Rails) is a web-based server-side application framework written in Ruby and released under the MIT License. Hansson is a Danish programmer and also a partner in the web-based software company Basecamp.

Hansson explained why he has changed his mind on bitcoin and crypto in an opinion article titled “I was wrong. We need crypto”, published Monday.

“To say I’ve been skeptical about Bitcoin and the rest of the crypto universe would be an understatement of epic proportions,” Hansson began, noting that he has been condemning bitcoin since the early 2010s. He cited many reasons for his opposition, including “Bitcoin’s grotesque energy consumption, the ridiculous transaction fees and low throughput, the incessant pump ‘n’ dump schemes in shitcoins,” and the Tether “fraud.”

But he now admits:

My bigger beef was actually fueled by a lack of imagination.

The programmer said that although he could see the advantages of cryptocurrency and bitcoin in countries such as Venezuela, China or Iran, he believes the majority of bitcoin boosters live in stable Western democracies, governed by the rule .”

However, recent events in Canada have changed his mind, led by the Trudeau government invoking the Emergencies Act in order to end the Freedom Convoy trucker protest. One of the provisions afforded by the Act is allowing financial institutions and crypto exchanges to freeze bank accounts and crypto wallets tied to the protest with no consequences.

Hansson stated:

A few months ago, I would not have found it credible if you said a three-week peaceful protest in Canada could have led to martial law, frozen bank accounts, and terrorist-financing laws being used to hunt protest donors. It was unbelievable then and it is undisputed now.

” This is insane. It’s absolutely absurd. He described the situation as “terrifying”.

” Is France really so different from Canada? Austria? Is Denmark? He exclaimed, “This is a wake-up call.”

” I still don’t believe this is the protest that would make every Bitcoin crank a prophet. Hansson admitted that he was wrong about crypto’s essential necessity in Western democracies and had to cut a piece of humble pie.

It’s clear to me now that I was too hasty to completely dismiss crypto on the basis of all the things wrong with it at the moment. Instead of appreciating that crypto allows us to transact freely, we should be grateful for the best chance at protecting it.

Does the situation in Canada change your mind about bitcoin and cryptocurrency?

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection of cryptography and economics.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the use or reliance of any content, goods, or services mentioned in this article.

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Borroe Finance draws attention in presale as Ethereum and BNB investors seek new opportunities

Ethereum (ETH) and Binance Coin (BNB) are among the best altcoins in the crypto industry, and investors will always have them in their portfolios. Even though these tokens are currently bullish, they will probably not deliver a triple-digit ROI to investors in 2024.  As a result, savvy investors turned to a fast-growing crypto token called Borroe…


Ethereum (ETH) and Binance Coin (BNB) are among the best altcoins in the crypto industry, and investors will always have them in their portfolios. Even though these tokens are currently bullish, they will probably not deliver a triple-digit ROI to investors in 2024. 

As a result, savvy investors turned to a fast-growing crypto token called Borroe Finance ($ROE). Keep reading to see expert opinions and forecasts on these tokens.   

Standard Chartered predicts a May Ethereum Spot ETFs approval

On January 30, analysts at Standard Chartered (one of the world’s leading financial institutions) predicted that the US SEC may approve Ethereum Spot ETFs by May 23. According to Geoff Kendrick (head of Digital Assets Research at SC), Ethereum will likely mirror BTC’s price movement in the weeks leading up to SEC’s approval for BTC Spot ETFs. Therefore, Kendrick predicts that ETH could trade for $4,000 before its approval.

Thanks to this positive Ethereum crypto news, ETH recorded a minor price surge in the last week of January. On January 24, ETH traded for $2,230. A week later, ETH gained 4.89% and sold for $2,336. According to crypto analysts, Ethereum may likely be one of the best crypto investments in 2024 due to landmark activities in the blockchain industry. BTC halving comes in April, and the resulting market volatility will likely push ETH to $3,200.

Binance Coin surges amid groundbreaking partnership

On January 27, Laika AI (one of the world’s best DeFi research platforms) announced a partnership with Binance Coin Greenfield. Binance Coin Greenfield is a sub-chain of the BNB chain built to provide a decentralized data storage system and thriving web3 data economy to the blockchain industry. In other news, Crypto Slam recently revealed that Binance Coin Chain NFT sales shot up by 688% in the last week of January.

Thanks to these favourable ecosystem developments, BNB went bullish in late January. On January 24, BNB traded for $292. Seven days later, BNB gained 4.84% and sold for $307. According to crypto experts, BNB is primed for a price surge in Q1 2024 because retail crypto traders will return to accumulate altcoins during BTC’s halving in April. Therefore, BNB will likely trade for $325 by March 2024.   

Investors back $ROE, presale raises over $2.7M in four stages

Borroe Finance ($ROE) is the world’s first web3 blockchain invoice discounting NFT marketplace. As a decentralized fundraising marketplace, Borroe Finance allows web3 businesses to raise instant cash by minting future earnings into NFTs and selling them to supportive communities at discounted prices. To ensure the safety of the fundraising process, Borroe Finance incorporates AI-risk assessment and efficient payment solutions into its protocol.  

$ROE’s fourth presale stage is ongoing, and the token is selling for $0.019. So far, $ROE has completed 85.7% of its current presale stage, and the platform has raised over $2.7 million. When all presale stages conclude, $ROE will surge to $0.040 and deliver a massive 110.5% ROI to early investors. Furthermore, experts believe $ROE will record quick market acceptance in 2024 and likely trade for $0.190 by the end of the year.  

To learn more about Borroe Finance, visit Borroe Finance Presale, join their  Telegram Group, or follow Borroe Finance on Twitter


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Why experienced investors are turning to NuggetRush amidst the meme coin frenzy?

Shiba Inu burned billions of tokens in January. BONK could fall further amid growing competition from meme coin rivals. NuggetRush (NUGX) could become the most in-demand play-to-earn network after its 80% price increase. The price of SHIB is still struggling despite over 9 billion SHIB tokens being burned by Shiba Inu in January 2024. On…


  • Shiba Inu burned billions of tokens in January.
  • BONK could fall further amid growing competition from meme coin rivals.
  • NuggetRush (NUGX) could become the most in-demand play-to-earn network after its 80% price increase.

The price of SHIB is still struggling despite over 9 billion SHIB tokens being burned by Shiba Inu in January 2024. On the other hand, competition from other meme coins could push BONK down in the market.

Now, investors see NuggetRush (NUGX) as a last hope to secure stable returns and gold rewards. The project has sold nearly 169 million tokens. Yet, can NUGX become a better investment than top altcoins like SHIB and BONK? Let’s hear from market experts.

NuggetRush: matching expectations with high-value gold rewards

Speculation in the NFT gaming industry is rising NuggetRush prepares to launch the first-ever blockchain mining game. While gamers are thrilled by the prospect of an immersive strategy-based game, investors and crypto enthusiasts are more excited about earning NFT rewards that can be traded for real gold.

NuggetRush players primarily aim to become the game’s best miners and sit atop its leaderboard. To achieve this, players will set off on their journey with only miners and equipment while upgrading them as they progress. 

With better NFT characters and machinery, a player’s mining efficiency will increase, boosting their chances of completing quests and earning financial rewards.

As for wealth-building, NuggetRush (NUGX) offers staking and trading of NFT assets. Rare in-game rewards called RUSHGEMS can be swapped for real-world gold at the game’s P2P marketplace. On the other hand, NuggetRush (NUGX) players can earn up to 20% APY rewards by staking their NFT assets.

NuggetRush is now in the last phases of its presale, and investors have already swooped up over 168 million NUGX tokens. In that time, NUGX’s price has risen by 80%, moving from $0.010 in round one to $0.018 by round five of its presale. 

Investors are already anticipating another 11.1% rise to $0.020 as NUGX is gearing up for its listing. Furthermore, it is showing strong signs of becoming one of the top DeFi projects.

Shiba Inu burns 9 billion tokens

Shiba Inu has kept its word of increasing the SHIB burn rate in 2024. Reports from ShibaScan show that Shiba Inu has burned over 9 billion tokens in January 2024. It comes amid the widespread bearishness that has suffocated the progress of many altcoins. 

Shiba Inu (SHIB) has also succumbed to the bearish pressure. As of January 1, SHIB traded at $0.00001069. It fell by 10.9% to $0.000009516 on January 17. SHIB fell by 6.8% to $0.000008861 on January 25, before recovering by 3.8% to $0.0000092 by January 30.

Shiba Inu (SHIB) first unveiled its policy of increased token burns in late 2023, following the launch of Shibarium. 

Furthermore, Shibarium’s network activity has risen since the end of 2023, increasing demand for Shiba Inu’s services. This could push Shiba Inu’s SHIB token up by 52.3% to $0.00001402. Analysts say Shiba Inu’s (SHIB) increased token burn rate could make it one of the top crypto coins.

BONK expects competition from meme coin rivals

BONK has enjoyed spectacular growth in the past few months. Yet, the network is gearing up for a possible downturn amid competition from community-driven meme coins. In late January 2024, meme coin investor sentiment rose for networks like Dogwifhat.

Despite the market-wide price drop-off, BONK remained very popular among many crypto users. It traded at $0.00001494 on January 1. BONK jumped by 19.5% to $0.00001202 on January 18 before falling by 6.3% to $0.00001126 on January 30.

BONK could rise further if the meme coin sector reaches its 2023 highs. The network has already upgraded its mobile wallet features to allow smooth and seamless trading of tokens. This could further boost BONK’s trading activity while pushing its price to $0.00001509.

For more information bout the NuggetRush presale, visit the NuggetRush Presale Website.


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Former Coinbase CTO Balaji Srinivasan: Bitcoin Is a ‘Political Revolution’

Balaji Srinivasan, venture capitalist and former CTO of Coinbase, has highlighted the real purpose of Bitcoin and its implications for geopolitical and financial issues. Srinivasan stated that Bitcoin at its core is a “political revolution,” because it challenges the centralized states’ business model, and the change brought by it will be fought by states who [……
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