For years, Irish Bitcoin has been simmering quietly at the grassroots level, debated in pubs and meetups, debated in telegram groups, and sometimes splashed into headlines with predictable suspicion. However, recently the temperature has started to rise. With the release of “Sound Punt: Case of Ireland’s Interest in Bitcoin” by Bitcoin Network Ireland (BNI), and the weekend release that watches both the Bitcoin Ireland Conference and Aontú’s Ard Fheis, it’s clear that the Emerald Isle is gaining momentum.
Soundpants: Paper for Ireland’s citizens
A new paper released today by Bitcoin Network Ireland is a concise and accessible document created to get through the noise and present the benefits of Bitcoin to the general public and politicians alike. The purpose is simple. It offers a reasonable, jargonless entry point, especially in the age of euro decline and rising cost of living.
The name itself is a clever pun. It nods to both “sound money” and the Punt, the former Irish currency, but the majority view it as associated with risk, suggesting that it is downplaying what may be worth revaluing. This signal that it’s more than technology. It is about asserting financial sovereignty and reconsidering what makes money “good” in the first place.
What BNI is trying to achieve is to bridge the key gaps in understanding and to help citizens seeking change and government officials looking for solutions that recognize that sound, stateless money is valuable to everyone. As Parker Lewis famously said, “Like all successful money, Bitcoin is money for the enemy” – a neutral system that serves all participants regardless of political stance.
Long and complicated relationship with Irish money
To understand the importance of this moment, it is worth noting that the relationship between Ireland and money is always different from its European neighbours. The Romans introduced money to Britain more than 1,000 years before it was adopted in Ireland. Native Irish people resisted state-issued money and instead relied on barter and bullion to rely on the second millennium.
In ancient Ireland, the lack of money was a testament to a stateless, highly decentralized society, embracing multicenter legal systems that differed between clans. The ideal of that society was that the people of society did not rule over others, and that even the king could be disposed of if they abused their power.
It is therefore no coincidence that Ireland was the last European society to adopt money. Ultimately, it was forced into the land by the British crown in 1601, coinciding with the final stages of the nine-year war (1594-1603) and the increase in British rule in Ireland. To this day, Ireland had no own free floating currency. It has always been linked to external forces. First is the sterling of the pound, then the European currency system, and now the euro under the ECB. Therefore, it should not be a coincidence that the EU has not waned in recent years Ireland’s power and influence.
“Control the currency of the country, and I don’t care who is making that law.” – Mayer Amschel Rothschild (1743–1812)
Perhaps given this historical context, Ireland is set up on its own to understand the value of sound, the money of statelessness. Bitcoin represents a return to financial independence, ahead of state-issued currency, but with the technical advantages of the digital age. If the kingdom of ancient Ireland uses market products that cannot be manipulated by distant authorities, Bitcoin offers modern equivalents. It is a system that cannot be interpreted or controlled by any power, whether domestically or foreign.
This historic skepticism about centrally controlled currency is now resurfaced as the Irish state and its citizens face a new wave of economic uncertainty through the ba crimes of the euro and tariffs. Geopolitical and economic tensions rarely feel unstable. The tariff disputes, new questions about Ireland’s foreign direct investment model, and potential technology and pharmaceutical layoffs are sure to uncover the focus on sovereignty and resilience. The release of “A Sound Punt” is timely and invites you to once again question the wisdom of linking the country to faraway financial authorities.
Political crossroads
In line with the release of “A Sound Punt,” revered academic and BNI member Dr. Niall Burke proposes two moves at Aontú Ard Fheis (Party Conference). Aontú, the party that saw the biggest surge in votes in the last general election, has shown acceptance of Bitcoin, opening the door to a conversation that has been relegated to a margin until recently. The presentation and acceptance of Bitcoin movements at major party meetings is a marker of how the conversation is changing.
Meanwhile, the Bitcoin Ireland Conference brings together the country’s growing gospel, builders and supporters. These circles are once in the vicinity and are now finding doors open in the political world.
The public’s dissatisfaction and calls for financial autonomy
Bitcoiner isn’t the only one looking for alternatives. Ireland has witnessed its biggest public demonstration since the 2012 post-GFC era. Recent marches have attracted over 100,000 people to Dublin streets. These protests reflect deep frustration and a sense that political establishment is no longer cooperating with the people.
What’s particularly impressive is how Bitcoin serves as a common foundation for seemingly opposed interests. For protesters, Bitcoin offers protection from inflation and defends it from government overreach. For governments concerned about economic stability and growth, Bitcoin could be the very solution needed to protect pension funds, especially the pension funds and indeed the state’s very own investment funds. This is a paradox of sound, a stateless money promise. It enforces property rights and serves the interests of all, as it cannot be captured or controlled by a single faction.
Last but not least, MMA star Conor McGregor’s foray into both politics and Bitcoin was predicted a year ago, but for those listening to the ground, it has evolved for a while. His proposal for the National Bitcoin Reserve represents a broader national change. Bitcoin finally enters the era-list, and perhaps he is in the role of playing to keep it up, like BNI.
Bitcoin is an open source financial protocol, and adoption comes from all fields, regardless of politics. Bitcoin is neutral and does not support partisan causes. What is probably not fully recognized is how empowering Bitcoin can give us, and we need to focus on our ability to unite rather than splitting.
Return to the “Sound Pant” paper
The paper itself makes a compelling claim for Ireland’s interest in Bitcoin.
- Healthy Money Principles: It evaluates Bitcoin against the six properties of “good money”: durability, divisibility, uniformity, portability, verifiability and rarity.
- Value Store: This document highlights the fixed supply of Bitcoin as a protection against rising inflation and currency collapse.
- Practical examples: Provides evidence of Bitcoin monetization and compares the costs of buying a home with Euro and Bitcoin over a decade.
- General Concern Counterattack: This paper addresses the most common objections to Bitcoin: providing energy use, volatility, criminal activity, weakening of traditional currency, and balanced rebuttals to each.
- Action Steps: Rather than a theoretical argument, this paper outlines specific actions towards individuals, businesses, and governments, from education to strategic Bitcoin reserves.
The beginning of the process
No one is hoping that the Irish government will announce the Bitcoin Treasury next week, and it is debate whether it should be established at all. But “sound punts” mark the beginning of a process that will eventually help reconstruct Irish’s approach to money and economic sovereignty.
This accessible primer is just the first step in Bitcoin Network Ireland’s broader education mission. BNI will be releasing a much more comprehensive policy paper for policy makers in the coming months. This is currently going through the editing phase. While “sound punts” introduce the concept to the public, future documents provide detailed analysis and policy recommendations that decision makers need.
The goal is clear as BNI works to enhance this conversation through both public education and policy analysis. Help all citizens recognize Bitcoin’s universal value proposition. Maintaining a modest strategic allocation of Bitcoin, either at the individual or institutional level, hinders some degree of protection against uncertainty and hope in an age of growing concern.
Download Soundpants: Case of Irish interest in Bitcoin from the Bitcoin Network Ireland website.
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