Understanding the Ideological Aspects of Bitcoin and Cryptocurrencies

Understanding the Ideological Aspects of Bitcoin and Cryptocurrencies

Beyond exploring the practical applications of Bitcoin, it is also important to understand the bigger picture, the bigger issues. Here, we collect the thoughts and ideas from people who have made the effort to think about these and communicate them through videos, articles or blog posts. 

Bitcoin: The End Of Money As We Know It

Torsten Hoffmann | Posted: 26th Jun 2020 | Source: 8th Jan 2015 | Bitcoin, Cryptocurrencies

This documentary the award-winning documentary Bitcoin: The End Of Money As We Know It (2015).

This documentary lays out the original arguments made for Bitcoin back in 2015. It lays out the case for Bitcoin and I recommend you to watch it if you want to understand the reasons for why Bitcoin could be a positive evolution for our financial and monetary system. It is important to note, however, that the original arguments made for Bitcoin no longer hold for Bitcoin (BTC). The people behind Bitcoin (BTC)'s development has essentially doomed Bitcoin from being useable as a currency.  Its developers have crippled the network and made it too expensive to be used quickly and cheaply by people around the world that would need to use it.

A lot of the arguments made for Bitcoin here, still apply for Bitcoin Satoshi Vision (BSV) though: a project committed to keeping with the original vision of Bitcoin. I will write an article about this to explain my position because this is a controversial point to make. For now, enjoy this great documentary by Torsten Hoffmann.

The History of Global Banking - A Broken System?

Economics Explained | Posted: 25th Jun 2020 | Source: 25th Jun 2020 | Bitcoin, Cryptocurrencies

Author's description: "The 2008 Global Financial crisis was kicked off by major structural issues in the global banking system and exacerbated by record levels of household debt. Today the world is on the brink of yet another major financial downturn, and yet again household debts are at record levels. So is banking really to blame?"

My comment: The author of the video mentions the fact that fiat currencies and the bank system are now just based on 'trust' and 'faith', something that is a very serious issue to me because of its implications. But then he diverts to make, what seems to be a relatively small point: that banks will contribute more positively to the world if they acted like cooperative banks and provide loans to businesses. Still, I share it because he gives a very digestible brief history of banking. I also like the fact that he highlights the compares the concept of economic output with the idea of GDP, that just measures the transactions (the table example).

Why is the stock market going up?! Anthony "Pomp" Pompliano explains

Anthony Pompliano | Posted: 21st Jun 2020 | Source: 21st Jun 2020 | Bitcoin, Trading & Investing, Business, Economics, News & Current Affairs

Description on the video: "Anthony 'Pomp' Pompliano explains how central bank actions from the Federal Reserve is devaluing the US dollar, while also pumping asset prices up. He goes into detail about what is happening, why Wall Street is confused, and what you can do at home to benefit."

Comment:

I posted this here because he, an American, shares the concerns that I, an outsider, have of Trump's printing of money, especially after he fired the official who was supposed to oversee how the funds are to be distributed. Trump's government have not been transparent enough. One crucial aspect of printing money is transparency. When the government prints money, it siphons a percentage of the value of everyone's money into their pockets. This is okay if they re-distribute the printed money to where it is needed most. But if they are not disclosing how that money is distributed, then we can presume they are doing something with the money that they — the government — do not want their citizens to know. 

This event — Trump's printing of money — could well be a live example of why people should protect at least a portion of the value of their wealth by buying Bitcoin. 

Interesting points on potential opportunities and trends:

  • Trend towards working from home, people working digitally. This is driving people away from big cities since all they need is a device connected to the Internet to work, without the high rent and high cost of living. 
  • Digital portals to interact with people to work remotely with everyone. 

The Pirate Party - the politics of protest: Rick Falkvinge at TEDxObserver

Rick Falkvinge | Posted: 16th Jun 2020 | Source: 21st Dec 2012 | Bitcoin, Cryptocurrencies, Technology, Politics

"In 2006, Rick Falkvinge, a Swedish software entrepreneur, founded a new political party centred around the subjects of file sharing, copyright and patents. He called it the Pirate Party and it rose to prominence after a government crackdown on the file-sharing site, the Pirate Bay. Since then, the Pirate Party has swept Europe and beyond to become an international political movement, active in 40 different countries with representation in the European parliament. In Sweden, it's the largest party for voters under the age of 30 with 25% of the vote, and in September 2011, the German Pirate Party won an unprecedented 8.9 per cent of the vote and now has several members in the Berlin state parliament. Focused on the subjects of government transparency, internet privacy and copyright law, the Pirate Party hosts Wikileaks on its servers and uses new technology to leverage political power in new and interesting ways. In 2011, Foreign Policy magazine called Falkvinge one of the top 100 global thinkers."

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