In times past people traded things that they found, made or grew with other people for things that they wanted.
Bitcoin has had me thinking for a number of years now and I am sure my thoughts will keep changing.
We used to live in a world without limits to growth and mankind could argue whose God was best, but as we zoom off over 7 billion people we’ve maxed out on oil, probably never to exceed 100 million barrels per day extraction rate. It takes 9 grams of oil to produce 1 gram of food to put into your mouth in the West.
The Keynesians have had their day while it lasted, time for the thrift mungers – the Austrians. Â It seems to me that both will deliver inequalities in times of boom and bust cycles of the stock exchanges.
Bitcoin seems to be creating so far, a bloodless Civil War. Should the store of wealth be based in favour on those who manipulate the markets for their own kind, the 1%. Who produce nothing and make nothing or should the store of wealth be held by the new 1%, the TechnoMonarchy?
The early adopters of Bitcoin, the stake holders now I believe are a new TechnoMonarchy, many of which understand:
- Bitcoin’s current price is irrelevantâ€
- Find Austrian Economics appealing
â€ Bitcoin isn’t just a value store
Gordon Kecko, produces wealth through the slavery of the IMF and sleeps well at night and certainly doesn’t care about the poverty of future generations through debt creation.
Where as Ivor Geek, thinks that military industrial complex has got out of hand and “believes” that Austrian economics maybe a fairer distribution of wealth. “Hell it can’t be any worse than the shit we’re in and I’m prepared to gamble a couple of thousand $/Â£/â‚¬”
What appeals to geeks most are the facts, for example:
- Is the tax take going up or down
- Are governments/corporations getting stronger or weaker
- Are Western governments still helping to kill people in countries we are not supposed to be in, using techniques and weapons against the Geneva convention
- Is Britain still a fuel stop for rendition flights
- Is MI6 still outsourcing torture to foreign nations
The bottom line is that TechnoMonarchy I’m describing or anonymous, doesn’t need Â a political party, meetings or a manifesto, they know that the wheels need re-attaching. This is a spiritually human thing and the re-basing of money is central.