The_pinnacle: A Brief Introduction to satoshi bloodless revolution “You never change things by fighting the existing reality

The_pinnacle: A Brief Introduction to satoshi bloodless revolution “You never change things by fighting the existing reality

The_pinnacle: A Brief Introduction to satoshi bloodless revolution “You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” — R. Buckminster Fuller The revolution of 2009 went unnoticed by most people because it was peaceful, orderly and profoundly technological. In 2009, Satoshi Nakamoto released open source software by which peer-to-peer transfers of digital wealth, called bitcoins, flashed over an immutable and transparent ledger, called the blockchain. A new model challenged the existing reality and peacefully rendered it obsolete. Instead of toppling a government only to have another rise in its place, the new model rendered all governments irrelevant through a new technology and a private currency unlike anything seen before. Bitcoins move seamlessly through a world without states or borders, obeying only the command of individuals who choose to deal with each other. Immune to currency manipulation and inflation, they do not serve the powerful elites at the expense of average people; it is a people’s currency. Transfers arepseudonymous with substantial privacy provided by encryption algorithms and hash functions. The blockchain is immutable and visible to all which makes it immune to corruption. In an instant, the world changed forever. Liberty versus Power Individuals had the long-missing weapon of self-defense that was necessary to win what the Austrian economist Murray Rothbard (1926-1995) called “the great conflict which is eternally waged between Liberty and Power.” Individuals had a viable private currency that allows them to become their own banks, to self-bank. At last, a path led away from the manipulated fiat and corrupt financial institutions that caused a global and devastating financial crisis just two years before – the global financial crisis of 2007-2008. It was a path to financial autonomy. In his massive work Conceived in Liberty (Volume 2), Rothbard offered a broader view of the importance of the “liberty of the individual.” It is not only “a great moral good in itself” but also “the necessary condition for the flowering of all the other goods that mankind cherishes: moral virtue, civilization, the arts and sciences, economic prosperity.” Without a private currency and banking system – that is, a system controlled by Liberty and not by Power – human potential itself was hobbled. Until Bitcoin, however, few prerequisites of liberty received as little attention as the need for a private currency and a private banking system that was accessible to every individual. People have marched and died under banners reading “Freedom,” “Truth” and “Justice.” But no banner has read “private money” even though nothing is so important to liberty. (Note: Money has three traditional uses; it is a medium of exchange, a store of value and a unit of account. Currency refers to money in circulation as a medium of exchange.) Economic autonomy is the bedrock of freedom without which the exercise of other rights becomes problematic. Freedom of speech is beside the point to a man who is starving to death. Freedom of association rings hollow to a waitress who has to endure customers’ abuse in order to feed her children. Due process is irrelevant to someone who cannot afford the medicine necessary to live another day. The fundamental need of every human being is to provide for themselves. Freedom follows, as do “moral virtue, civilization, the arts, and sciences.” The political vision of the individual or the team known as Satoshi Nakamoto flew under the general radar for years. Developed bycrypto-anarchists and not backed by gold or governments, no authority took notice because they did not take Bitcoin seriously. They do now. Banks and businesses now eagerly adopt and adapt the blockchain because they recognize its incredible power as a tool. Patents are issued in what was once an entirely open-source community. Traders are arrested for not being licensed. An exchange is raided by the Department of Justice for not filing the required paperwork on American citizens. Governments rush to regulate the currency in an attempt to control not only its profits but also the danger Bitcoin poses to them. Rothbard observed, “liberty has always been threatened by the encroachments of power, power which seeks to suppress, control, cripple, tax, and exploit the fruits of liberty and production.” Power does so because it has always been threatened by the encroachment of liberty. Satoshi Nakamoto’s vision of individual freedom through financial autonomy is under assault on several fronts. The criticisms include: Cryptocurrencies are merely financial instruments. Calling them weapons of self-defense in a battle between Liberty and Power is anarchist nonsense.Only criminals need this depth of financial privacy. Users of unregulated cryptocurrencies are drug dealers, tax evaders, sex traffickers and the like.Without regulation, massive fraud is inevitable. Those are among the ‘sticks’ used to discredit cryptocurrencies; none are valid. The most dangerous attack, however, is the ‘carrot’: the promise of respectability. The cryptocurrency community wants the blockchain and its currencies to be widely accepted. Some want to expand freedom on an individual-by-individual basis until liberty wins the world. Others believe their holdings and investments will soar in value as governments and institutions become users. And respectability is viewed as the key to increasing value. Unfortunately, “respectability” is becoming a synonym for “state sanctioned” when the two terms should be viewed as antonyms. Bitcoin was needed precisely because governments and their associated institutions were looting the wealth of the average person through currency manipulation, inflation, obstructive regulation, taxes and other financial sleight-of-hand. They shut people out of prosperity through licensing, patents, artificial credit and investment restrictions, monopolies and other self-serving obstacles. Governments are the problem; they are not the solution and they never will be. They are the Power side of “the great conflict which is eternally waged” for Liberty. State sanction should mean “shame” and not “respectability.” An added insult is the clear implication that freedom is notrespectable, that freedom and respectability are in conflict with each other. This is a false dichotomy. The opposite is true. Nothing is more respectable than the sight of human beings dealing peacefully and honestly with other to mutual advantage. What governments contribute is violence or the threat of it. The stakes are high for both Liberty and Power. Bitcoin offers individuals a chance to privatize their own wealth, which amounts to nothing less than privatizing their own lives. In doing so, Bitcoin announces to governments and financial institutions that they could lose their monopoly on wealth, without which they are impotent. Power’s attempt to centralize and dominate digital currencies may be doomed to fail because of the technology’s inherent decentralization, but a great deal of harm can be inflicted along the way. The technology cannot be stopped but individuals using it can be imprisoned and ruined. The surest protection against the damage is to champion anew Satoshi Nakamoto’s original vision of Bitcoin. Those who share it will be lucky enough to relive the revolution. The Bloodless Revolution It is the quintessential image of political revolution. Starving peasants storm the Bastille because oppression has driven them beyond the limits of human endurance. But what if that image is wrong? Or woefully incomplete? What if the most revolutionary force in the world is not hunger and despair but hope and opportunity? The phenomenon that captures Satoshi’s vision is called “the revolution of rising expectations.” The term became popular after World War II had destabilized governments across the globe; especially in the Third World, people came to believe that change for the better was possible. The “revolution of rising expectations” refers to a situation in which an increase in prosperity or freedom mak es people believe they can create a better life for themselves and for their families. And, so, they demand it. It is a truth that Power has long known. Downtrodden people obey because they believe there is no other option; no other action is likely to better their lives. Greyness, conformity, and fear empower totalitarian regimes that quash any sparkles of nonconformity or creativity because they express individual choice and cannot be controlled. The same is true of hope. Hopeful people reach out to control their own lives because they glimpse freedom or greater prosperity which are two sides of one coin. This explains an observation made by the nineteenth-century sociologist Alexis de Tocqueville (1805-1859); namely, the French Revolution was strongest in those areas where the standard of living had been steadily improving. The concept of “rising expectations” may also explain why social revolt often brews in places of opportunity rather than ones of oppression. For example, revolutions flow from privileged university students who believe change is possible and within their grasp. Revolutionary leaders notoriously come from the upper or middle classes and do not share the victimhood of the truly oppressed whom they claim to represent. In fact, the downtrodden often refuse to work for social change. Marx called them the “lumpenproletariat” and scorned this category of society for not understanding its own class interest well enough to rise up. The main problem with most

Just to once again, remind you how the world is totally turning digital

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