Bitcoin

Aarika Rhodes on Bitcoin Day

Aarika Rhodes on Bitcoin Day

Aarika Rhodes, an elementary school teacher turned congressional candidate, recently attended the Bitcoin Day Sacramento 2022 event to discuss the impact of Bitcoin (BTC) on local politics.

Speaking to Cointelegraph, Rhodes highlighted the difficulty for grassroots candidates like her to compete with established members of the US Congress.

“If it weren’t for Bitcoin and the Lightning Network, a grassroots campaign like ours wouldn’t have gotten this far with the amount of money available at this point in the race, especially as a teacher. full-time in elementary school,” she explained. Speaking specifically about his campaign, Rhodes added:

“This [BTC] has made us viable in our efforts to topple the incumbent for over 20 years.

Rhodes also believes that the role of local businesses in accelerating the mainstream adoption of BTC is “a simple matter of economics.” By allowing small and medium-sized businesses to accept payments in BTC, the community refrains from making Bitcoin purchases elsewhere, which is a way to revitalize local economies, according to the congressional candidate.

As a full-time elementary school teacher, Rhodes is a first-hand witness to the financial and societal challenges faced by students, families and educators:

“As a teacher living paycheck to paycheck with no family money, I’m risking everything to overthrow an incumbent who currently has just under $4 million in cash. We don’t need millions of dollars to win.

Rhodes also pointed to a lack of understanding among politicians who currently oppose and fear Bitcoin adoption. “Those who take the time to learn are beginning to understand that this is the future,” she added. Additionally, Rhodes believes that an integrated Bitcoin Lightning network could alleviate the cash shortage and market saturation experienced during the height of the coronavirus pandemic.

“Politicians who oppose Bitcoin are of the same brand as those who oppose the internet. This is also an indicator of where they get their money.

Rhodes further reiterated that the mainstream system, coupled with the disconnected mindset of American politicians, is designed to keep people poor, concluding:

“I want us to remember who we work for: the American people. I am committed to putting all good ideas on the table and risking everything to make a difference. I’m glad to see others doing the same.

Related: Senior Fed officials will soon be barred from trading cryptos, stocks and bonds

Just two days ago, the Federal Open Market Committee (FOMC) approved a ruling banning senior Federal Reserve officials from buying and holding cryptocurrencies and other investments.

As Cointelegraph reported, the FOMC announced that starting May 1, senior Federal Reserve officials and their family members over the age of 18 are “prohibited from buying individual stocks or funds.” sectoral; hold investments in individual bonds, agency securities, cryptocurrencies, commodities or foreign currencies; enter into derivative contracts; and engage in short selling or buying securities on margin.