Google trends shows an explosive growth in the Bitcoin meme. Like a tsunami, it started as a ripple and didn’t look like much, traveling for miles on the digital sea, and then Cyprus hit and the ripple became a roar.
Nearly all financial news outlets and blogs have weighed in with
their opinion on Bitcoin; the majority indicating they either like
or love the idea with a few dissenters. The dissenters keep coming
back to the argument that Bitcoin’s success is capped by how far
the government will allow it to succeed before stepping in and
calling time.
Is government prohibition a concern for Bitcoin?
I don't think the timing of Bitcoin's appearance is a coincidence
in that it appeared when many believe the government, and in
particular the US government, has been stepping in and calling time
too often. The Patriot Act, NDAA, and DHS are clear examples of
government overreach and many argue that the ‘checks and balances’
built into the US Constitution are, over decades of specialist
interest group erosion, failing to protect us from the interests of
monopolists and warmongers.
Is pro-Bitcoin rights the new pro-gun rights?
The pro-gun advocates point to the 2nd amendment of America’s
Constitution citing the right to bear arms as a protection against
tyrants. Pro-Bitcoin advocates believe in protection against
tyranny too. The difference is how the two groups define
tyranny.
Curiously, for pro-gun rights, the threshold needed to be crossed
that supposedly triggers a 2nd amendment response appears to have
been violated many times since 9/11 with nary a peep. Whereas,
pro-Bitcoin rights advocates, seeing the same chain of events, have
rung the bell and are flooding the streets with a call to virtual
currency arms.
Will Bitcoin, a stateless, decentralized, anonymous crypto-currency
that has leaped in value from less than $1 mn to over $1 bn in just
a few dozen months, succeed where the pro-gun rights advocates have
failed - in protecting Americans, and people around the world -
from an encroaching class of warmongering kleptocrats?
Looking at the response to deposit confiscation in Cyprus (or MF
Global for that matter); by klepto-governments on behalf of corrupt
TBTF bankers, the answer could be ‘Yes.’ If given the opportunity
of preserving their wealth and independence or complying with crony
capitalists bent on occupation and subjugation people tend to
choose freedom over bondage. And Bitcoin enables that outcome.
Like America's Minutemen of Revolutionary War fame, Bitcoin'ers are
armed and ready to attack at a moment’s notice against the growing
intolerance of the occupying monarchy. Everyone needs to have their
Bitcoin plan of action ready in the face of financial
tyranny.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.