Libertarianism and other modern political ideologies have started to realize cryptocurrencies can help with their cause.
There is still much confusion about the political alignment of most of the users and/or creators of cryptocurrencies. The most natural conclusion would be to link cryptocurrencies to libertarianism. The freedom which cryptocurrencies provide and the prospect to replace the central bank system can be viewed by many libertarians as a dream come true.
Libertarianism is often confused with anarcho capitalism since many libertarians hold very strong anti-government beliefs. Bitcoin has sparked countless debates about its politico-philosophical nature. These debates often revolve around the free market and the prospects of a central bank-free system.
Erik Voorhees who runs the MoneyandState blog, is an extremely vocal supporter of cryptocurrencies and also the CEO of ShapeShift.io. In his recent debate against Peter Schiff, Voorhees went through the ups and downs of cryptocurrencies and explained how when the time comes, they can be a solid and reliable replacement to fiat.
One of the biggest advantages of cryptocurrencies, has been mentioned by Voorhees countless times:
“Cryptocurrencies do not allow governments to print money out of thin air.”
This is a very discussed issue in libertarian communities because the very existence of central banking is a slap in the face to the ideology. But Libertarians are not the only ones who are against central banks.
There have been many prominent investors and public figures speaking out against usury and endless money printing, as Henry Ford said:
“It’s good that the people do not understand our banking and monetary system, for if they did, there would be a revolution by tomorrow morning.”
Modern left wing politics have also taken notice of the way banks create wealth and have focused their attention on the gap between the poor and the rich. There is no justification for 8 people having more wealth than 50% of the entire world population.
Regardless of alignment it’s important to note that left, right and centrist politics are starting to incorporate positive views of cryptocurrency into their beliefs. There will always be differences, but history has taught us that no matter what the cause, violence and forced economies don’t tend to last.
In the end the majority of people will find common ground in the realization that central banks are not required and this system of usury will be put to end.
Wealth inequality, technological development, personal freedom and prosperity are issues all sides of the political spectrum tend to solve. Blockchain technology offers all sides common grounds to do so.
You can also check out:
- Marketing Campaign Gone Wrong: Bitmain Against Mangocoin - Aug 20, 2019
- Answer to Libra is Ready: China’s Digital Currency Has Been Completed - Aug 20, 2019
- Quonic: Crypto-Friendly Bank Is Open to Crypto Companies - Aug 19, 2019
- Smominru: Monero Malware Now Goes After User Data - Aug 19, 2019
- New RAT Targeting Cryptocurrencies Discovered by Zscaler ThreatLabz - Aug 16, 2019
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Tags:Anarcho-CapitalismCentral BanksCryptocurrencyErik VoorheesFreedomHenry FordLibertarianismmoney and stateprint moneyShapeShiftwealth inequality