Will Bitcoin Fuel a Division of Wealth?

I tend to lean away from conspiracy philosophies; my decades of association with government officials and business leaders encourage me to favor stupidity and corruption as an explanation for our sad state of current affairs. There just seems no true evidence of imagined small groups of people intelligently steering the world in evil directions. Intelligence at that level is simply too rare.

So it is with that thought in mind that I read an article explaining that the European Central Bank is concerned that Bitcoin will fuel a division of wealth, creating rich and poor scenarios based on owners and non-owners. I suggest reading that again, as nothing in this world is more divisive than the hierarchical structures of central banks inflating economies using fiat, fractionalized currencies.

They are even proposing international laws prohibiting, or at least inhibiting, the ownership of Bitcoin. First, I would like to point out that the elites of the world, including their own banks, are among the largest investors in Bitcoin. That fact would lead me to think they are suggesting inhibiting common serfs from owning it. Secondly, their claim that Bitcoin is guilty of a failed promise to become a superior form of transaction is either completely ignorant and corrupt, or evil. Again, faced with a difficult binary choice.
Since not all of us are fluent in blockchain and cryptocurrency technology, allow me to explain that Bitcoin is analogous to gold.

Due to its very technology, Bitcoin is regarded as a method of storing value because it does not make transactions quickly. As such, it is not particularly intended for that use. Similar to gold, it is well used (better than gold in some regards) as a reserve upon which other transaction mediums relate. Ideally, those transaction tools would NOT be fractionable. Instead of being controlled by a few people and used to enslave humanity through debt, they would operate under a public contract that would prevent such manipulation. This means being fast to process transactions and divisible into small enough increments to allow for retail and personal use. For instance, many cryptocurrencies are calculated in divisions of eighteen decimal places. Keep in mind that traditional currencies do the same thing, pennies, nickels, dimes, quarters, etc.

Again, a cryptocurrency is the native token of a blockchain (a digital ledger that records transactions). As such, many of them are amazingly useful and create value by that utility.

So here is the bottom line, in a time when we have international public debt reaching $100 Trillion, potentially catastrophic declines in populations, slow economic growth, and the elite hierarchies of the world threatening global war, we are presented with an opportunity to make a change. In fact, it will be demanded of us.

The shift to networks as social and organizational structures INCREASES the empowerment of the individual, not the opposite. Empowering the individual is one of the benefits of using networks. It is the continued use of hierarchies as our means of organization that decreases individual freedom and produces concentrated power and control, as that is what hierarchies are used for. So, back to our original question, stupid and corrupt, or Machiavellian? Perhaps this is not a binary choice at all, maybe we are faced with both.

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