There is a giant inflatable rat in New York representing Bitcoin

13 Oct, 2018
by Matthew Kim
News
There is a giant inflatable rat in New York representing Bitcoin

In the United States, inflatable rats, also known as union rats, are commonly used during protests or trade union strikes as a symbol of opposition and call for public attention. Now, an inflatable rat representing cryptocurrency has been installed in the face of the Federal Reserve in New York.

Typically, union rats are dark in color, but this one is different. The white inflatable rat, about 3 meters tall, is covered with colorful code and math equations. Its blue eyes have pupils spelling out “PoW”, which stands for the Proof-of-Work protocol that Bitcoin utilizes. Some people are calling it the "Bitcoin Rat".

It was installed by Nelson Saiers, former hedge fund manager turned artist, as both a protest against the centralized financial institutions and a tribute to Satoshi Nakamoto, Bitcoin’s mysterious creator. Saiers told Coindesk that “the sculpture’s supposed to kind of reflect the spirit of Satoshi and what he’s trying to do”. He also hinted that it was also inspired by tycoon Warren Buffet’s comment that Bitcoin is “rat poison squared”, saying “if the Fed’s (Federal Reserve) a rat, then maybe rat rat poison is a good thing”.

While most cryptocurrency enthusiasts are applauding Saiers’s effort, others think that his message is unclear to normal pedestrians. “Needs a giant bitcoin logo on the front of it. Missed opportunity. No one has any idea what this is,” one redditor said. Another added, “it’s cool, but people walking by won’t understand it. I don’t even understand it. Needs a BTC logo or something”.

However, Saiers is not too concerned about the clarity of the message. He believes that it will be understood by the people that need it and a piece of entertainment for others. "It's art, so I hope they're entertained by it. It's informative, I hope people will learn [and] I'm hoping it'll at least help people understand bitcoin better and be kind of faithful to what Satoshi would have wanted," he said.

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Read more about: Bitcoin (BTC)

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