by Paul Rosenberg
Bitcoin is a new thing. If it is forced into the old mold of politics, regulation and control, it will become just another tool of an oligarchy. And the prospective Bitcoin oligarchy (Bitcoin Foundation) are precisely those people who wish to shove Bitcoin, against its nature, into the same old statist, plutocratic mold. The result would be a few dozen insiders getting very rich and leaving the rest of us back where we started.
Regardless of the new plutocracy’s creative justifications and their fear-based scenarios, Bitcoin will be neutered and co-opted by governments and bankers if they get their way.
This is the largest single threat facing Bitcoin at the present time. Fear and greed work, and corruption follows with them.
If bitcoiners are serious about human liberty — as opposed to the same old crap in a new wrapper — they must turn hard against this neo-Plutocracy and their promises of an easy way out. Nothing great comes easy, and important things are more often killed by their supposed friends than by their enemies.
I will close with a comment Martin Luther once made to a young assistant who was asking God to save them from their enemies. Please take it to heart:
We can handle our enemies. God save us from our friends.
Alternative currencies threaten the money power of the elites and will be attacked. Bitcoin is a great story, even if you dismiss its viability, because it exposes and explores the meaning of money itself. The political history of this experiment will be as important as the economic history. Full text at http://www.freemansperspective.com/bitcoin-inside-attack/ A good site for Bitcoin issues at http://www.thebitcoinchannel.com/