Bitcoin

Neither gold, nor the dollar, nor Bitcoin. The future of money is a return to the Paleolithic

The Berlin Wall has not yet fallen in the minds of many Bitcoiners. In other words, you still live in a world full of great stories. There is talk of revolution, liberation and oppression in a linear and totalizing way. Bitcoin itself is new. But his story is old and outdated. And this is partly because today’s Bitcoiners use the same old narrative of cypherpunks, libertarians and gold beetles. In other words, the world of the 80s. In this world, the dollar has to be done away with by gold or something like gold. The hegemony of the dollar must be replaced by the hegemony of the “people” / “free market”. In other words, a decentralized currency that rules everything. The libertarian dream of separating the economy from the state is finally being realized. The anarcho-capitalist paradise of the maximalists.

In the 1980s, the world was linear and progressive. There were good and bad. The world was organized under relatively uniform general ideas and beliefs. In fact, it was an essentially modern world. The world wars destroyed Europe and with this destruction the old imperial system was left behind. The post-war period was marked by a Cold War between the two superpowers, the United States and the Soviet Union. In other words, Rocky 4. Rocky Balboa vs. Ivan Drago. The dichotomy between good and bad.

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Neither gold, nor the dollar, nor Bitcoin. The future of money is a return to the Paleolithic
Neither gold, nor the dollar, nor Bitcoin. The future of money is a return to the Paleolithic

At that time we all saw the same TV programs and we all read the same newspapers. The children had to wait until Saturday morning to see the cartoons. There were only a few open signal channels. There were two or three across the country. The news programs lasted half an hour or an hour. And television was aimed at a mass audience. If you need to know something, you should go to the home library and look it up in an encyclopedia. And politics was about loving the United States or hating the United States. In many ways, it was an extremely simple world.

The post-war period consolidated the nation state. Liberal democracies ruled the world in the context of a welfare state. And the British Empire has been abandoned in the past. Rich made way for nations. And the governments became our great benefactor. What did unprecedented and deep government intervention in our lives mean? Now the government was in everything.

Gold was the epitome of empire money. In the City of London “The City”, bankers created a gold-based paper money system in the 19th century. This system spread all over the world and became a global system. Now sGold-backed paper was the modality adopted in the Imperial period, and Fiat Money was the system used by the nation-states in the post-war period. When Nixon violated the Bretton Woods agreement, he thanked him for having finally eliminated the past.

American libertarians have long wanted to travel back in time. In fact, they want to return to the United States from the first half of the 19th century. In other words, the world after Thomas Jefferson. Freedom, individualism, minimal government. Here we are talking about the wild west at a time known as the free banking era. “Free Banking Period” (1837-1863). In free banking, there were no central banks and no government legal tender, and there were no government regulations for money and banking.

Essentially, libertarians in the United States are a reactionary political movement that believes that the creation of the Federal Reserve and the Nixon shock were the great original sin. And we have to go back to the lost paradise.

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Since Bitcoin is the son of California cypherpunks and libertarians, this spirit lives in the crypto community. Above all, live among the maximalist Bitcoiners. In other words, Bitcoin as an anti-system political movement. In other words, the separation of the economy and the state, the end of the Federal Reserve, the abolition of fiat money and the realization of the free market for everything.

“Bitcoin fixes that”. Bitcoin as a panacea for all problems in the world. In the future, the world will introduce Bitcoin and there will finally be a separation of money and state. Famous bitcoiners like Andreas Antonopoulos, Anthony Pompliano, Bobby Lee, Roger Ver, John McAfee, Max Keizer, Jimmy Song, Tone Vays and many more enter this bag. Some more, some less. But that’s the mind. They sucked out the libertarian soul and spread it in the Bitcoin community. So young Bitcoiners now think that the “Bitcoin narrative” is brand new and original. But libertarians have been talking about them for centuries. All of that is older than the suction cups.

How does the internet affect the world? What is today’s postmodern world like? Why is it so different from the Cypherpunks world of the 80s / 90s? The world after the fall of the Berlin Wall is not the end of ideologies. It is the personalized world. It is not a total world, but fragmented and specialized. It is not the national television station that everyone is watching at the same time. It is Facebook that uses an algorithm to create a unique and subjective experience. There is not a single content provider. There are millions at the same time. Everything revolves around interest groups, certain niches and individual tastes.

There is not one world, but millions who work at the same time. There is no single idea, no single narrative, no single values, no single organization. It is the individualization of the world. The realm of subjectivity. Postmodernism. The nation state is already losing its validity. The world is atomizing. Now our tribe is the list of contacts we have in our networks. Our profile is our universe.

Can the totalitarian vision of the maximalists be successful in postmodernity? Would it make sense to return to the libertarian paradise: the 19th century? Our Facebook account is a return to the Agora of classical Athens. Indeed, it is a return to Paleolithic gangs. My friends. My contacts. Even the language has become a bit more prehistoric. The video, the audio, the emoji are reminiscent of the oral tradition. The memes and the YouTube videos are the stories around the campfire. This is a completely different reality than in the 80s when all the children in the country saw the same cartoons on the same day and at the same time.

Now the money. How many payment methods have emerged with the advent of the Internet? The average person does not live in the binary world of the maximalists. The average person processes many payment methods at the same time. Banknotes, coins, Visa, Mastercard, PayPal, shares, bonds, goods, Ali Play, Google Pay, Apple Pay, Mercadopago, miles, gift cards, gold, Minecraft gold, collectibles, dollars, euros, yen, yuan, cell, Swift etc . Most people operate a mixed and personalized monetary system. And this trend is growing rapidly.

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The Catholic Church no longer has a monopoly in the world of ideas. The fall of the Berlin Wall ended the great story and there is not a single ring that will rule us all. This world was left behind. The future will not be the nineteenth century. According to the Internet, it is highly unlikely that the world’s population will want to implement a single solution that covers everything. It’s like CNN or the BBC is the only source of information in the world. Something that was normal in the 19th century. Today is highly unlikely.

The separation of economy and government is unlikely to be as the maximalists and libertarians imagine. This means, the Great People’s Revolution, which will introduce a decentralized single currency in the style of the Cold War. The dollar’s hegemony will (probably) be lost thanks to the wide variety of alternatives. The Internet ended the communications hegemony of the government and other key agencies. Who is now controlling the information? Well, the internet could have the same effect on money. It would be the fragmentation and personalization of money.

Seeds, stones, dry leaves, metals, minerals, handicrafts, furs, fibers, teeth, tools, feathers, animals and thousands of other things. Money was like that. Diverse. A planet. Thousands of worlds. A humanity. But everything was local and personal. Suddenly the future will not be the same as Thomas Jefferson’s United States. Maybe it looks more like the Paleolithic.

This is an opinion, and Cointeleraph does not necessarily follow the ones expressed by the author here

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