Bitcoin’s Velvet Revolution: The overthrow of crony capitalism

Bitcoin’s Velvet Revolution: The overthrow of crony capitalism

The appearance of no class conflict in the current day would make Karl Marx and Friedrich Engels think they won. They would see a society divided on many subjects, including identity politics and correct COVID-19 strategies. But they would be silent about the ongoing struggle between labor and capital as well as the oppressors or the exploited.

Imagine how different it would have been if they had returned 10 years ago, when the Occupy movement was at its peak. Tent cities were erected in protest against crony capitalism and corporate greed, as well as an out-of-control financial industry. The same problems still exist a decade later, but they are barely noticeable in the roiling, raging culture conflicts.

While the 1% may be sleeping better these days, any complacency they feel about this is deeply misplaced. Capitalism’s discontents have not gone away. Inequality has become more severe and the rage has never stopped. Crucially, these proto-revolutionaries now have access to the most powerful economic weapon that ordinary citizens have ever had.

Similar: DeFi is needed everywhere banks, policymakers and NGOs are not necessary.

Welfare for the wealthy

Revolution is brewing. Because people don’t think so. People see the governments spending trillions of dollars to prop up the too-big to fail while the poor struggle to survive from paycheck to paycheck. However, most people don’t know that welfare for the wealthy is the worst form of welfare. It’s something they have known for more than 300 years.

The Cantillon Effect was first described in the early 1800s. It describes how money printing makes the wealthy richer and the poor less. The Cantillon Effect describes how large amounts of money are pumped into an economic system. This allows the first recipients to spend the money before the prices rise. They will invest in real estate, art, and precious metals if they are prudent, as the wealthy tend to be.

This money becomes hugely devalued when it “trickles down” (if ever) to the poor by the inflationary effects that printing it. The rich see their wealth increase as they have more assets. The poor suffer twice the price rises in living costs.

To be angry against an economic system that rewards reckless corporate behavior and makes life difficult for the poorest members of society, you don’t need to be a socialist. This is not a problem with our capitalist economic system, it is a feature.

Related: How can third world countries combat inflation using Bitcoin?

Crony capitalism, “soft socialism”

Commonly, we blame capitalism for the current economic and social problems. Marx would love our financial system if he were alive today. He’d even like concepts straight from The Communist Manifesto. Is this something you recognize?

In reality, we live in a “soft socialist” utopia. Regulations, subsidies, and other state interventions are designed to protect corporate behemoths, and those whose wealth is in assets, rather than savings accounts. It is difficult to imagine how further lefternism will fix the structural problems of an economic system that already views printing money as the answer to all problems. It’s also difficult to see how we can fight such powerful vested interests, and their political backers, without a blood-and-thunder revolution. Vladimir Lenin’s favorite expression is: “What can be done?”

Related: How a Crypto Revolution could have saved Rome’s Empire

No matter your political affiliation, you should avoid fighting the wealthy on their terms. The only way the 1% can take power away from the poorest members of society is to end their ability to manipulate fiat currencies.

Revolution without blood

Can Bitcoin (BTC), which is a digital currency, really challenge the centuries-old hegemony enjoyed by the asset-owning classes (and without any blood loss)? Although you may think I am a dreamer and a dreamer, I am not the only one. Just ask Salvadorans.

Before Bitcoin, Salvadorans who received remittances abroad from their home country had to pay a substantial fee to money transfer companies like Western Union and MoneyGram. This was cash that could be better used to buy food or medicines. These businesses will lose an estimated $400 million annually each year, as Bitcoin is now legal tender. This is money that goes straight to the pockets of the poorest people in the world.

This is how revolutions will occur — not through violence, but through choice. Demonstrate to people how fiat money makes them poorer and give them the opportunity to increase their wealth with uninflatable Bitcoin. They’ll vote for you. Fiat money will not be overthrown by a lightning coup. Instead, it will become less important as more people use Bitcoin for inflation protection. As the “squeezed middle”, who are already more vulnerable, this trend will accelerate. History has shown many times that revolutions can only occur when the middle classes and moderate political leaders embrace radical ideas.

Related: Blockchain is just as revolutionary as electricity: Big Ideas With Jason Potts

Today, there is a whiff of rebellion. People have lost faith in politicians over the years, but they are now questioning long-held economic and monetary narratives. Bitcoin’s uniqueness is its ability to not only preach its own gospel but also attack the opposing side. The more people learn more about Bitcoin, the better they will understand the system’s pitfalls.

Bitcoin critics claim it is too complicated for mass adoption. Which is more difficult to grasp: a digital currency that has a hard limit of 21 million coins, or the bewildering tricks of finance ministers used to conceal inflationary policies that benefit the wealthy while hurting those who are less fortunate?

Revolutionary France had the guillotine, Soviet Russia had the gulag. But we don’t have to resort to terror to combat the unsound money tyranny. Ours is a true Velvet Revolution. Our only weapon is an alternate currency that can’t be inflated, controlled or otherwise manipulated. The only victims are those who make a killing off a system that harms everyone else.

This article is not intended to provide investment advice. Every trade and investment involves risk. Readers should do their research before making any decision.
These views, thoughts, and opinions are solely the author’s and do not necessarily reflect the views or opinions of Cointelegraph.
Bitcoin Reserve was co-founded by Nik Oraevskiy. Nik is a Bitcoin enthusiast since 2012. He has worked with exchange and wallet startups across North America and helped to create and direct their strategic visions. Before starting his brokerage career with Bitcoin Reserve, he was involved in international finance and fund management in Liechtenstein. His goal is to bring smart Bitcoin-buying across Europe.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Amy Jimenez

Amy Jimenez– Services My name is Amy Jimenez, and I am the main writer behind the"" for the ground-breaking and most fragile bits of knowledge into the most recent news in the services sector. I began my voyage of work as an autonomous investment advisor. I had around 4 years of involvement in this field. I am a free soul so; my energy for investigating the world has taken me to the countries over the globe and allowed me to report for a part of the best news affiliations. At present, I am a full-time manager as experienced in the account and began to utilize my capacities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner