How Democracy Failed Us: Bitcoin Is Not Democratic Part Two
Democracy is antithetical to the fundamentals of private property rights and, therefore, the functional, fair organization of society.Earlier this month I published part one of the “Bitcoin Is Not Democratic” series. In order to get a handle on how we can avoid the mistakes of the present, in part two, we’ll dive deeper into its impact on society and explore concepts such as wealth, poverty, free markets, politics, private versus public property, human rights, property rights, peace, war and moral hazard. From this foundation, the final part of the series will follow: “The Age of....
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Our democratic systems of today were designed hundreds of years ago, in a time when letters were drafted in quill and ink, and then sent hundreds of miles over horseback to be shared between individuals. Governing institutions required closed-door offices in order to handle and organize the massive number of documents required by their agencies. This data module made sense because it was the most efficient option afforded to that particular era. With the advent of the internet, the ability to share information has changed so fundamentally that it is hardly comparable to the methods used....
Bitcoin is commonly regarded as a truly democratic form of money. Interestingly enough, however, there seem to be various explanations supporting this characterization. Furthermore, at least one of these interpretations have caused some to doubt whether Bitcoin does in fact still represent the democratization of money, or whether it has perhaps become susceptible to less democratic forces throughout the years since its inception. In order to understand why this doubt is understandable yet unjust, it is helpful to recognize which two types of democracy, as distinguished by political....
As the concept of “democracy” regresses before our eyes, Bitcoin presents a new way of ordering society and incentivizing progress.
The death of Democracy is around the corner — what will replace it? As Bitcoin changes the very fabric of society, we’ll need new modes of governance and coexistence.
America has passed the twilight zone. The nomination of Hillary Clinton for the Democratic presidential primary confirmed the charade of US politics. Elections are sold to the highest bidder. No matter how much popular support a candidate like Bernie Sanders might garner, the corporate masters who sponsor this rigged game in the end take all. Many know that we do not live in a democracy, yet the level of corruption is becoming even more blatantly apparent. Now, the oligarchic class doesn't need to lobby candidates. They can simply run for office, just like Donald Trump. When essential....