A giant inflatable rat, referring to Bitcoin (BTC), was installed yesterday in Wall Street, in front of the Federal Reserve Bank of New York, as a form of protest to draw the public’s attention to the state of the economy and the administration of money in the United States.
The rat exposes threatening claws and fangs, covered with color codes and mathematical equations. In its blue eyes, the letters “PoW” can be read, which stand for “Proof of Work,” the algorithm related to Bitcoin (BTC). The piece was created by Nelson Saiers, a US artist and mathematician, former hedge fund manager, who seeks to represent his vision on the central bank’s handling of the US Dollar.
Saiers says he wants to use the piece to help people better understand cryptocurrencies and the Federal Reserve, as well as learn to be a little more faithful to the vision Satoshi Nakamoto had. He also seeks to attract the attention of the Federal Reserve, the agency that controls the US Dollar.
The inflatable rat before the Federal Reserve Bank of New York raised mixed opinions among the Bitcoin (BTC) community members
In this sense, he pointed out that the color white represents the lab rats used for experimental purposes, symbolizing the governmental actions during the financial crisis of 2008, whose products created for the recovery of the economy were experimental, as the mathematician qualified them.
On the other hand, as for the “PoW” inscription, Saiers assures that he is comically asking for a work test that eliminates the centralized fiat money. In his opinion, although Bitcoin (BTC) has been despised, as the rats are, it may play a role in the disappearance of the central banks.
The work, which is still on display in front of the Federal Reserve Bank of New York, aroused people’s curiosity, while some Bitcoin (BTC) community members pointed out on Reddit that many bystanders may not understand the message and associate it with Bitcoin (BTC). Others believe that the figure does not attract attention because it can be confused with any other inflatable rat used in union protests.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.