by
Ramin Mazaheri
Part
7 - This is an enormous development on 3 enormous levels
Or maybe I’m
wrong? Bitcoin is, of course, highly speculative. But the fact is
that 150 top companies have already signed on with bitcoin #2,
Ethereum, so they are going to be around a long time and will make
money for investors.
But Bitcoin
(capital B) is really the big deal that needs to be supported. It’s
the rebel, the revolutionary, the one that governments fear they
can’t control, and the one that was designed from the start to be a
currency which cannot be manipulated by bankers or central bankers.
That’s why
giving $100 to them is more of a leftist action then donating $100 to
Amnesty or some other charity. Bitcoin already is a major tool
against capitalism – if we can make it too big to stop, the results
could be globe-changing.
But it needs
to be supported with investments.
Heck, you
might make a ton of money and become a leftist benefactor thanks to
bitcoin!
And it’s
useful: Can you exchange it for dollars? Of course, otherwise what’s
the point?
Can you buy
things in a store with it? Yes, increasingly – but some merchants
would rather pay Visa’s 1-3% fees per transaction instead of around
$0.25 per transaction (it fluctuates).
A lot of
migrant workers don’t know that this exists, so they keep losing
$30 to Western Union or $45 to their bank in order to chivalrously
send their slave wages back home. We need to get them aware of this.
So, the
much-ballyhooed showdown (well, I’m ballyhooing it) between
“bitcoin socialism” and “bitcoin libertarianism” is actually
going to be fought and won in the next few years. Socialists need to
get involved now, and realize that bitcoins are a space where we can
evangelize for leftist economics with enormous potential results.
People love
to take bitcoin to the extreme (yes, will not be using ONLY bitcoins
in our lifetime) and that obscures the very immediate, very real ways
bitcoin can help RIGHT NOW, which I proved with Iran and medicines.
I currently
understand bitcoins as an ethical advancement perhaps unseen since
Islamic finance, so I’ll continue to be a journalist tracking a big
story and continue to share the wealth and tell people about
bitcoin/block chain.
And that’s
the final key: unlike other capitalist ventures, where you keep your
newfound knowledge a secret for exploitation, this whole bitcoin
currency/method of savings/societal change only works if more people
learn about it, use it, and faithfully hold their stocks long-term in
order to make it “too big to fail”.
Fiat/paper
money is based on faith – in government. Bitcoin is based on faith
– in each other.
That is
socialism.
Wake up!
Bitcoins are radical, indeed, and we’ve barely begun.
***
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