Bitcoin is the most valuable asset in human history

When I first started writing this blog, the price of a single bitcoin was around $230 or so. Today the price of a single bitcoin is beyond $17,000 along with a whole slew of new financial assets that have been created by no governments or bankers; but by cryptography, computers, and coders alone.

This new kind of money serves not the interests of the banking and corporate elites, or the corrupt government ministers who kowtow to them; but the people who control them alone.

We have seen Bitcoin become the most valuable financial asset in human history despite all of the harping of bankers, economist, and purported ‘experts’ of finance, economics, and money. They have declared bitcoin are a scourge, that it is ‘rat poison’ and is something to be detested. They say that bitcoin is a grievous wound against all of society, and it must be destroyed. Again and again we hear from them that bitcoin is a bubble, that it has no social value, and that it is going to ‘crash’–and yet we find that the honey badger of money continues its slog upward and to the right despite all of their raging cries.

This is by no mistake, as Bitcoin is fundamentally better at storing value than any fiat currencies in existence today. This is because of bitcoin’s fixed and known monetary supply and monetary inflation rates. More importantly however is the social consciousness and consensus that allows for bitcoin to exist and never be destroyed. People can now control their personal wealth with nothing more than the power of cryptography. Bitcoin is rewriting the entire way that money is understood and used, which will become a political conquest within the coming decades.

Saving in fiat money is for chumps

“Why would anyone outside of a lunatic asylum want to hold money? What an insane use to put it! For it is a recognized characteristic of money as a store of wealth that it is barren; whereas practically every other form of storing wealth yields some interest or profit.”

–John Maynard Keynes

Today, each and every form of fiat money is nothing more than a legal tender that holds value simply because governments command it. However, if we look over the course of history; again, and again, we see states fail, governments collapse, and their money always inflates to nothing. This is not by mistake, but by design. Just look at what has happened in Venezuela over the last few years.

What those in contemporary finance and government fail to see is that bitcoin radically departs from state-sponsored financial systems and the tyranny that they enable. For the better part of modern human history we have simply had to deal with the fact that government officials could show up at our places of business or our homes, rob us at gun point and call it legal. That governments everywhere could simply fictionalize up mountains of money and give it to their corrupt banking and corporate friends, and tell us it was for our own good.

Again and again, we see the powers-that-be prod us down the road to serfdom, and tell us it is the yellow brick road to the Emerald City. We have seen what happens to those who follow that path, and the poverty it creates for all of us.

The revolution that we have all been waiting for is finally here, and it is the radical divorce of state and money from each other. Governments were never entitled to steal the wealth of the world for themselves and for their barbaric and unholy purposes. We finally have a way to resist their tyranny and fight back with economic means alone. Just as we once saw the radical divorce of church and state fundamentally change society for the better, we will once again witness such a radical epochal change–but this time it will be from the separation of money from the state.

Those of us who hodl bitcoin know and understand that bitcoin has nothing to do with money. The true purpose of Bitcoin is to create a new form of economic power that will be the harbinger of a new society from which freedom and liberty are more than meager slogans. Bitcoin will empower a society where all economic power is outside and beyond the control of the state; and the monstrous banking and financial sectors will be vanquished from this earth once and for all. It is from this base of power that we are creating that a whole new society within the framework of the web that will allow for us to free ourselves from debt bondage, and corporate slavery forever.

Bitcoin will become the most value asset in history not only because it is a better form of money, but because of the astounding economic, social, and political power it creates. Through tearing out the economic base of the corrupt systems of fiat money; we can create a new and more egalitarian society using the power of the Bitcoin and cryptography. The banners we will raise in this new society will have the following inscribed upon them for all to see and choose to follow if they wish:

To each according to their code, to each according to their keys!

The Political Nature of Cryptocurrencies

“Government is instituted for the common good; for the protection, safety, prosperity and happiness of the people; and not for the profit, honor, or private interest of any one man, family, or class of men; Therefore the people alone have an incontestable, unalienable, and indefeasible right to institute government; and to reform, alter, or totally change the same, when their protection, safety, prosperity and happiness require it.”

Massachusetts Constitution, Part VII, John Adams

Cryptocurrencies by their very nature are political because no single government can control them. They act as an explicit form of wealth for the individual alone, that no state can expropriate. Unlike all other forms of wealth that can be expropriated from the individual, cryptocurrencies cannot because of the cryptography that they are build on top of. People are coming to understand that cryptocurrencies are better forms of money because they are governed by code alone, which makes the contract a digital sacrosanct.

Cryptocurrencies exist only for the benefit of those that hodl and use them while creating an explicit economic program of counter-economics in which the state’s coercion and violence is banished. Through building money on top of cryptography–a communication explicitly designed for war–a new kind of value is created from the explicit incapacity of governments to control them.

With the recent abolishment of the largest bank notes in India, Venezuela, Pakistan, and Australia’s announcement to join them, the war on cash is coming. This is a war for the total economic control of money by both governments and banks. This is not for our safety, or security–it is to ensure the theft of our wealth, and the continued enslavement to banking and political interest of the oligarchs.

To have a truly independent form of money strikes at the very root, the very heart of the issue: politics and economics are one in the same.

To Politicize Money

Money is the most fundamental of the social contracts. When we can come to understand that the monopoly that all governments and banks have on the issuance of money under the guise of ‘safety and security’ is nothing more than a ruse for their own enrichment, we can start to understand the very real power we now have to fight back.

Through taking our economic power and choosing to put it into a form of money that they cannot control, we create the most powerful form of political resistance that is possible: economic resistance.

If money is the only thing that these corrupt monsters care about, then lets make it about money–how much money we can cost them? What can we do together when we all withhold our economic power from their parasitic system?

Because it is for each and every dollar that is not spent in there system, we get strong. For every single economic transaction that does not occur in their system, we become strong. For each person that realizes that the state should never have had control of the monetary system, we get stronger.

It is only a matter of time until we are strong enough to take them on publicly and openly. What should be apparent is that money itself is the strongest and the most potent political weapon that there is. Once we acknowledge that money itself is first political, and secondly economic, that we can start to understand the true nature of bitcoin.

Bitcoin is not about money, it is about power.

Cryptoism

A spectre is haunting the world — the spectre of Cryptoism. All the powers of the old world of flesh and steel have entered into a holy alliance to exorcise this spectre: political puppets of every party around the globe, regulators and bankers from every corner of the planet, and police and military forces of every nationality.

Two things result from this fact:

I. Crypto and cyberspace is already acknowledged by all world powers to be itself a power.

II. It is high time that Digital Natives should openly, in the face of the whole world, publish their view, their aims, their tendencies, and meet this nursery tale of the Spectre of Cryptoism with a manifesto of objectives.

To this end, digital citizens around the world have started running nodes to distribute our code, and create a new society across the global. Arise Digizens! You have nothing left to lose but the chains of the old world, and a whole world to win!

From each according to the code, to each according to the keys!

The Global Revolution is Here!

Since my last post Building The Revolution for Fun and Profit the price of Bitcoin has increased almost 100%, Ethereum has gone up 1200%, and Monero has increased 50%.

This is not a fluke.

A new economy is being built on top of cryptocurrencies, and a whole new asset class is being born. One which no state government or banking cartel can stop.

Our new forms of money are fair and transparent, they are available for everyone to use. They are fundamentally better than any form of fiat money and are superior to them in almost every way. Through this new kind of money, we are going to change the world.

What we are witnessing is the creation of an economic base for the coming Revolution. One in which our totalitarian corporate statist nightmare will be annihilate without a drop of blood being shed. We are on the brink of a new global society being born.

Through the destruction of state capitalism and the implementation of crypto-anarchism we can change anything.

Building The Revolution for Fun and Profit

Bitcoin turned eight years old this week and the price is back above $1000 per coin. For those of us that have valiantly and steadfastly been working on the finance system of the future for the last few years, we are all reaping the rewards of our efforts today.

Every person that you ask about investing in cryptocurrencies will tell you, “Don’t invest more than you can afford to lose,” but keep in mind that is a knife that cuts both ways.

If you really want to make money, big time money with trading bitcoin and other digital currencies, here is the strategy:

Buy bitcoin and maybe a little of some other crytocurrencies like Ethereum or Monero.
Move those funds into cold storage, into a safe location.
Make backups.
Wait and forget about that money.
Profit.

That’s it. That is the brilliant and amazing way that people have made huge fortunes in the last few years with bitcoin and other digital currencies. Go ahead and buy some, and see how you feel about it at the start of 2018.

Trojan Horse Blockchain

Bitcoin is the trojan horse of the fiat monetary system and will ultimately end the state’s control of money. However this process will also compromise bitcoin’s core principals and cause for the corruption of bitcoin’s pseudonymous traits. Over the next decade as the cryptoeconomy expands its reach to become truly global, the financial system will quake as its foundation shifts from state fiat money, to decentralized digital currencies. While we should celebrate the rise of digital currencies, the full collapse of governments and global financial system is unlikely.

What we will see instead will be the horrifying metamorphosis of bitcoin into a panoptic nightmare. Bitcoin will be used by governments, bankers, and regulators to track our every purchase, and monitor all financial activity. Tainting tools will become so powerful that pretty much any bitcoin transaction will be possible to de-anonymize.

The crisis of fiat money will change not only finance and banking for the better, but the nature of governance as we know it. Bitcoin is going to be a trojan horse to the fiat banking system, and will destroy all government monopolies on this issuance of money. While bitcoin will be able to act as a check on the economic power of governments, in doing so it is also going to expose bitcoin to rigorous state regulations, and ultimately the full capturing of bitcoin as a whole system. Bitcoin may end the state’s control of money, but it may also open the path to the state’s ability to watch all financial transactions.

Inverting Bitcoin

Blythe Masters

This video at the Bank of England with Blythe Masters she speaks about what she believes to be in store for the future of bitcoin. She openly admit that the state supports her project, and that, “There will be no currency that gets around government controls.” Later the host of the program states, “There is no innovation that governments cannot seize for their own advantage…” This is followed by a discussion of the panopticon effect that bitcoin can have through tainting bitcoins and tracking their movements. All of this seems to be eluding to the capturing of bitcoin–banks and governments are working together to ‘inverting’ the blockchain to monitor all transactions.

Capturing Bitcoin

To capture bitcoin, all that governments need to do is auction off the bitcoin payment system to be regulated under the threat of force. This is already happening and companies like Coinalytics and Elliptic and providing the tools to taint and track bitcoins coming from anywhere. Effectively, this make every bitcoin highly traceable, which in turn can allow the banking system to merge with bitcoin to create a financial panopticon.

This new global monetary system where bitcoin will act as the rails of the financial system is magnitudes more efficient than all current fiat systems. This will create a lower general transaction cost when compared to any fiat money today, and will be the foothold that digital currencies will take to win out economically over fiat money in the long run. This is the inversion of bitcoin and will be how bitcoin will finally ‘die’ because of state compromise.

However, this is only the death of bitcoin’s body, not its soul.

Death by state and bank compromise will create the conditions for bitcoin’s core mission to be achieved through it becoming a trojan horse within their own system. This will cause for the destruction of fiat money, and will reassert the power of the purse back into the hands of the people.

There is no way that banks and financial service companies will be able to use ‘the blockchain’ (i.e. bitcoin) without also causing two other actions to happen simultaneously:

The legitimization of bitcoin and other digital currencies as a global money.
Exposing the legacy financial system to speculative attacks from the cryptocurrency economy, ultimately leading to a devaluation of fiat money against bitcoin and other cryptocurrencies as fiat money is displaced.

Capturing the State

If bitcoin becomes a global reserve currency, as the central bank of Barbados believes it could be, then bitcoin is forging a path towards capturing the state through the very means by which it has captured all of us: through economic means.

Bitcoin has some flaws in regards to its privacy that should scare off neer-do-wellers and privacy advocates alike. However, these same aspects are what makes bitcoin very, very appealing to the financial world, and is the reason they will start using bitcoin as their base currency under the mantra of ‘blockchain’. The transparent nature of the blockchain offers the possibility of a totally regulated and systematized world of digital currencies that is a statist wet-dream. However, through implementing such a system, states will also lose control of their choke hold on the economy, and will eventually find it slipping through their grip entirely. The fundamental truth is that Bitcoin and other cryptocurrencies are better money than ANY form of money that we have ever seen! This is by virtue of that cryptocurrencies are not state-controlled, and cannot be state-controlled. It is plain and simple economics at the end of the day which is going to cause for bitcoin and other digital currencies to win out over fiat money.

Bitcoin has created a whole new generation of crypto-activist who see the power of digital currencies and cryptography in a way that will allow for a new fundamental form of power to exercise itself. The trojan horse is not bitcoin itself, but to see the possibility of real economic independence outside and beyond the control of the state which bitcoin enables. There is no longer any separation between politics and economics, and that is the very space in which we will make the new digital economy, and ensure our liberties through strong crypto.

Through refusing to use their corrupt money that they use for war, oppression, violence, and to keep the general population impoverished; we can force governments everywhere to respect our freedoms which our ancestors fought and died for. The state was never suppose to have economic sovereignty over us, and it is now time for us to reclaim that sacred right, and ensure it can never be taken away again. Strike against state capitalism, and reclaim your financial freedom which was never suppose to be taken in the first place!

The Economic Efficiency of Digital Currencies

Bitcoin and other digital currencies are new kinds of money and exchange networks that are superior in nearly every way to state-controlled fiat money. Due to the fact that all monies are directly competing with one another as economic units, money create a zero-sum game of competitive economics against one another. When we see the kind of capital efficiency that bitcoin and other digital currencies exude from their near-zero transaction cost, scalablity, security, and most importantly not being controlled by any government, we can see there is no way that fiat money can ever win over digital currencies in terms of their economic efficiency.

Capital Efficiency

Bitcoin and digital currencies will always be a cheaper monetary systems to maintain and utilize than a fiat money, partially when we consider the cost of scaling and security over the long-term, and on a global scale. Due to the unique construction of digital currencies from a security stand point, digital currencies create nearly perfectly secure money systems at rest. Out of the box, through cryptographic functionalities built directly into digital currency protocols; they are magnitudes more secure, efficient, and scalable than fiat money. Fiat money must be defended from counter-fitting, banking fraud, note destruction, and physical theft. Fiat money will always be more expensive to service, use, and maintain as a whole monetary system than any kind of digital currency system because of those weaknesses and flaws. Digital currencies have greater security and scalability than their fiat counterparts as well.

Scalability and Security

Payment and storage of value systems are huge social networks of economic acceptance. This is why new, crisp $100 bills are accepted almost anywhere in the world due to the economic hegemony of the U.S. dollar. However, there is nothing in the dollar bills themselves that have true value; just that the next person who gets that bill will know that it is worth $100–a relatively stable value against many local currencies like the Venusalian Bolivar, or the Argentinian Peso, which have both experienced bouts of hyperinflation.

Despite the wide acceptance of the U.S. dollar, it still has the fundamental problem of transportation, security, and counterfeiting that all fiat money has–a huge expense that cost the US economy about $250 billion dollars a year. That expense is imbued into all U.S dollar transactions due to the inherent nature of fiat monetary system. As the size and scale of the U.S. dollar usage increases, so does the degree of fraud, and counterfeiting that occurs. This amount of counterfeiting and fraud is proportional to the total supply of hard money within a fiat money system, and is a fundamental flaw of any kind of state-issued fiat money.

It is this scalability flaw within all fiat money system that digital currencies exploits to be superior money. This allows for digital currencies to be magnitudes more efficient at being a mode of exchange, and a storage of wealth than any money there is today. Digital currencies have the capacity to scale so much more securely and efficiently then fiat money that they will prove themselves to be more efficient then all fiat money.

Capital Competition

Due to a condition that is similar to undercover interest rate parity, digital currencies will always offer an opportunity for profit over fiat. This is not due to an actual higher interest rate of digital currencies, but due to an increase in the demand for digital currencies over the total available, fixed, known supply. This causes for value appreciation of digital currencies as demand outstrips the limited supply. What gives digital currencies their distinct advantage over fiat is that the networks is that the money supply cannot be inflated at will. This creates an unmailable supply which is nearly impossible to change, unlike all fiat monies.

When comparing whole monetary systems, bitcoin and other digital currencies will always out preform fiat currencies because of how both currencies create their structural value. Fiat money will always be bonded to a state legal system that finds its value in the force of law, not the nature of value. Digital currencies value because the nature of markets and the protection offered by cryptography–people desire cryptocurrencies because of the traits of good money that they exude.

Digital currencies will never have the same legal and economic burdens to service as fiat money does. This means digital currencies will always have a lower systemic transaction cost than any fiat system, which makes them more economically efficient. Sovereign digital capital will always out preform state fiat capital.

Digital currencies are simply better forms of money than state-controlled money.

Conclusion

Funny that he sees that, yet bitcoin is going to destroy his wealth.

Funny that he sees that, yet he seems to be unaware that bitcoin and other DCs are going to destroy his wealth.

Due to the zero-sum nature of how currency competition economics function, bitcoin and other digital currencies present an existential threat to all forms of state fiat money. Bitcoin and other digital currencies have a lower transaction cost and greater security and scalability than fiat money. Over the next decade we are going to see one of the greatest transference of wealth the world has ever seen, and it will be from the failure of fiat money the coming economic hegemony of digital currencies.

Money and The Means of Production

“Each country has its own ruling class. In capitalist countries, the rulers own the means of production and employ workers. The capitalist class is also called the bourgeoisie. Means of production are what it takes to produce goods. Raw materials, satellite networks, machinery, ships and factories are examples. Workers own nothing but their ability to sell their labor for a wage.” -Karl Marx

The means of production are the actual objects that one needs to own in order to be able to produce goods. This could be anything from real land to the machinery that can create textiles. The means of production are investments that will create products, which in turn creates capital for the owner of the means of production so they can pay their workers some portion of that capital. However, in an advanced capitalist society the most prominent means of production is capital alone, and this can be seen with how financial markets now dwarf all other economic markets today.

Considering how deep capitalism penetrates into all facets of our globalized society, it can be said today that capital is the primary means of production. Capital within our society can purchase all, and can do anything, and can make any decision: money is the only true sovereign in a capitalist society.

Everything is for sale, and nothing is scared anymore, including their law.

The State, Capital, and The Means of Production

Money is the central component of a capitalist system. This once was gold, sliver, and other commodity-monies, but as the state grew in power throughout the centuries, it came to regard the freedom of money as ‘dangerous’ and seized all forms of commodity-monies. Ironically, FDR did this to save capitalism, and in doing so he created the conditions state-capitalism. Check out this link for more on bitcoin and the history of money to understand how money has become nothing more than government debt backed by legal violence.

In this last stage of capitalism, the power of the state and capital become one; fused through totalitarian state capitalism by the monopolization of the monetary system. No longer is the separation of money from the state, or the state from money possible–they have fused together with state’s control of the monetary system. Due to the monopoly on the right to violence governments also hold, this gives them the power to ensure that only they can issue money. The state has forced people to give up real commodity monies with intrinsic value, for fiat scrips with no underlying value. This action took place over the course of the last century along with a complex campaigns of psychological warfare against the liberty of money to allow for the state itself to become money.

It is because of this that today gold and silver are little more than investment scams ran by the same banks that peddle the state’s fiat scrips. Nearly all economic exchange is taking place using fiat money; a money that cannot be differentiated or distinguished from state power itself. Through the legalized monopoly that central banks have, the state now fully controls the means of exchange and the mode of production within advanced capitalist societies: money.

Money as Propaganda

11th century Venetian gold ducat

The greatest secret about money is that it is only social–only men can create money, nature cannot. However, nature does create value, and it is this that we are seeking out.

From the very first forms of money, it has always been maintained by statist that it is not the precious metal that has value, but the stamp that is malleated into the gold or silver which has value. This is nothing more than propaganda. It is part of the greater illusion that the state has any bearing on the value of money.

The states original purpose for stamping commodity monies was to act as fair and just regulator in the setting of the weights and measure for coinage. However that was centuries ago, and is little more than a tale to justify government seigniorage. Today the state has anointed itself with the very right to create money and however much it they may choose. Through the complete need for the state to monopolize money, we also see the signature of why money must be monopolized by the state in the first place.

Money is the true sovereign. Money alone can decide the exception to the law.

Money is the final weapon in an advanced capitalist society, as money is the most powerful form of production in an advance technological society. Through using a monetary system that is outside of the control of any state, we are creating the scaffolding for the next epoch of society. Through using money that is controlled by no state, but the internet itself; we will usher in the hegemony of the digital. This is the bases for a new form of sovereignty and economics in a post-statist world.

Monetary Control = Economic Control = Political Control

The command of money is little more than command of the economy itself. This is why the state must control money, or else it will lose control of all the fuckery they do within the economy. This is why exiting from the fiat economy and using cryptocurrencies is the most power form of protest that one can take. Through using cryptocurrencies we seize the greatest means of production in our society: The monetary system itself.

When less than 100 people owning more wealth than the billions of people in the entire lower half of society, it is clear who owns the monetary system. Through refusing to use their corrupt, inflationary money; we seize the greatest means of production and deactivate the state totalitarian machine.

Through striking at the monopolization of money itself, we strike at the very root, the very heart of the problem in our globalized world today.

Too few have owned too much, at the expense of too many, for too long.

We will change this.

We are choosing to use a different monetary system. One that is protected by the immanence of cryptography, and outside of the corrupt hands of the state. By using and hodling digital currencies, we are seizing the most powerful means of production in our society, and how the state keeps control of our lives and economy. By striking at money itself, we can reappropriate our economic system from the hands of the state capitalism, and usher in a new era of freedom, and liberty for all.

Specialization and The Cryptoeconomy

Bitcoin and alternative digital currencies (altcoins) are much more that just simple currencies–they are a means of exchange, and the entry point into the new digital economy: the cryptoeconomy. Their development represents a technological protocol for digital ownership and economic exchange. This has far reaching ramification for both the internet and money as they both evolve to create their own new economic machine totally removed from state command economies and monetary systems.

With digital currencies acting as a new sovereign monetary force, they are facilitating the growth of a radical new sector of the digital economy that is total unregulated, and removed from the onerous regulations of all state governments. This is allowing for a proliferation of specialized ‘altcoins’ which range from useless to spectacular, each which seeks to create their own specialization within this new digital economy. While many are duds and even outright scams, there is a whole new economy being built, and many of the ideas are both huge in scope, and with the impact they want to create.

Specialization, Money, and Transaction Cost

Adam Smith and David Ricardo

Adam Smith first presented the idea of specialization in Wealth of Nations. David Ricardo later expanded on this idea with his theory of comparative advantage, which is the idea that that nations should specialize in industrial production that they have distinct advantages in. Digital currencies can specialize in the same way, creating their own comparative advantage by working directly within the framework of the internet, rather then limiting themselves with anachronistic limits of state forms of money, and their laws. This, in turn, radicalizes not just money and finance, but anything to do with the internet and economics.

One of the most important economic features of bitcoin and other digital currencies is the near-zero transaction cost they have, which means that in almost all cases over an extended timetable, digital currencies will always have a lower systemic transaction cost than any form of fiat money. Thus, using bitcoin as a mode of exchange to invest in new and exciting technologies not only is quicker, cheaper, and more secure (when using appropriate security protocols!) than in the fiat economy, but also opens up a whole new world of investing opportunity that could not exist otherwise.

With digital currencies being native to the internet, unlike fiat money, they are empowered to create a totally new kind of economy which is not based on regulations and permission-seeking, but through creating totally new markets and technological opportunities. There is a plethora of new digital currencies and projects which all are using this same near-zero transaction cost to radicalize pretty much every single area of the contemporary economy through applying this technological advancement of money to their field. Each one of these project are focused on an area where the traditional economy is failing or falling short, and where a new digital version of it can change everything.

Initial Coin Offerings

Usually a public offering from a company is going to take millions of dollars, lots of legal fees, and huge amounts of regulatory oversight. The massive inefficiencies and regulatory burdens of this process has locked out most people from being able to be involved in this process, and unable to reap the massive profits that can come from high-risk investing like this. Now with the ability to raise tens of millions of dollars using cryptocurrencies, almost anyone can create a public offering for just fractions of what it once cost. The most common way of doing this with crypto at this time is through an initial coin offering (ICO).

ICO are one of the most powerful modes of investing in the cryptoeconomy. Cutting through all of the red tape of investing and assuming the risks and rewards for oneself; there are huge opportunities (and scams!) that are occurring right now in the cryptoeconomy that are going to fundamentally destroy the old economy modes, in exchange for newer and better ones. The creative destruction of cryptocurrencies is changing all of the old way of investing and economic control, and imbuing that into the digital sphere.

One of the reasons that this can be done is because of the stable store of value and the unit of accounting that bitcoin provides to these new investments. Through acting as a unit of accounting, people are able to invest directly into ICOs by sending bitcoin directly, and in some cases taking their profits in bitcoin directly too. There are also several great projects being built in the Ethereum ecosystem that are taking this same approach, with profits being paid out in Ether, the currency native to the Ethereum blockchain.

Let’s take a look at just a few of the great projects that are currently being working on in the cryptoeconomy.

Ethereum

I see bitcoin as being a core stable money of the internet, like gold throughout the world for most of modern history, and ethereum as being finance for the internet.

I see a lot of ‘bitcoin 2.0’ being developed with ethereum, and a lot of amazing project are being built on top of it creating ‘Dapps’ or decentralized app. These Dapps are the applications which are going to fundamentally restructure the economy. From self-driving cars that pay for themselves and take themselves to the repair shop, to drones that will drop off your tacos once you send some bitcoin, Dapps are going to change the world.

These project range from simply dice games, to robust prediction platforms, and public offerings for decentralized companies. Much of the reason for this is the simple object-oriented programing language, Solidity, that was developed for building smart contracts in Ethereum. This allows for simple smart contract to be built in a few days, rather then the few months it would take to do the same with bitcoin.

Monero

Monero in many ways is what bitcoin originally wanted to be. Using a new kind of cryptographic protocol that is different from bitcoin, Monero provides strong anonymity that ensures that users financial information, along with their personal identity is much harder to track then it is with bitcoin. For this reason, several darknet markets have recently started supporting Monero, and Monero looks like it is trying to create its own niche within the cryptoeconomy centered around true anonymity and privacy.

I personally also like that the devs of Monero are anonymous, as I cannot imagine the state would ever let someone build a cryptocurrencys like this, and not attack them directly. Overall, Monero looks like a strong privacy-centered digital currency that could one day be the privacy currency.

Augur

Augur is a Dapp, meaning that it was built on top of etheruem as a decentralized app. Augur is the first of a few different prediction market apps that seek to create a prediction platform by letting users bet on pretty much anything. You can check out more information about it here: https://www.augur.net/

FileCoin

There are a few different projects similar to FileCoin such as Storj and Madesafe, which are all seeking to create a decentralized storage and hosting solution for the web. These are the kinds of huge, infrastructure changing, decentralizing projects which I think can radically change the internet, and in turn society itself. While FileCoin has not had an ICO yet, both Madesafe and Storj have, and they also have small limited application of the project released. These are the sort of radical project that are creating the new cryptoeconomy.

Dual Power

Through creating alternative, decentralized networks that have the same functions as more expensive, centralized, state-sanctioned networks; we are creating the conditions of dual power in order to collapse the state. It is not just the market efficiency of these systems that will do this, but the very decentralized nature of them that will come to fully challenge the power of the state, and the networks they use. Each state-sanctioned network (facebook, fiat money, ISPs, exchange markets, etc.) will come to be challenged by a non-state network, and over time, simply because of the lack of onerous regulations, and the well-placed mistrust of the state; they will come to prevail over the state-sanctioned network.

The digital age is presenting the interregnum between centralized state power, and decentralized digital power. Over the course of the next decade, states will find themselves struggling more and more with the spectre of the internet and the new forms of power it has created. As states do everything in their power to try to stomp out these new decentralized networks (particularly in more extreme ways as their power is challenged), they will come to find that they do not have power in this space. They will see the destituent power of cryptosystems, and will only be able to show their powerlessness against the immanence of systems built upon the power of mathematics, rather than the wills of men.

The Destituent Power of Crypto

“There is something that all people, whether they admit it or not, know in their heart of hearts: that things could have been different, that that would have been possible. They could live not only without hunger and also probably without fear, but also freely. And yet, at the same time—and all over the world—the social apparatus has become so hardened that what lies before them as a means of possible fulfillment presents itself as radically impossible” –Theodor Adorno

We will witness the radical impossibility that has been promised since antiquity: a world unified under the banner of true freedom. Through the power of digital technology and crypto, this world will become a reality. This is because the form of power that crypto is based upon is only a destituent kind of power–it only finds value in a world where money, language, and politics have been fully corrupted, and the only thing left to do is to refuse it. Through the deactivation of the power structure as we understand it through a totally new strategy of power inoperativity, we break the whole system.

The new digital economic exist outside and beyond the control of any and all forms of government. It does this through deactivating the control states have on the economy through creating a new monetary system. From the NSA, CIA, and DOD, there is no lettered agency that can claim any degree of sovereignty over our means of economic exchange, and private communications that we have made for ourselves within the framework of crypto. There is nothing they can do other then display their powerlessness against the majesty of cryptography, and their own selfish and fearful need to control everything. Crypto is the bases for the new society that we shall create in the shell of the old.

Destituent Power

“If revolutions and insurrections correspond to constituent power, that is, a violence that establishes and constitutes the new law, in order to think a destituent power we have to imagine completely other strategies, whose definition is the task of the coming politics. A power that was only just overthrown by violence will rise again in another form, in the incessant, inevitable dialectic between constituent power and constituted power, violence which makes the law and violence that preserves it.” -Giorgio Agamben

The goal is not to create a new form of money–that has already been achieved. The real objective is to render a new kind of law; a new kind of politics. A kind of politics that does not taint itself with the violence of man, or the machinery of the state. There no longer is a need for the law-making violence of the state machine, and we are creating a new world where such crude and barbaric forms of violence can no longer legitimize themselves. We shall vanquished such evil from this world through simply absconding into bits spread all through the globe.

A new epoch is beginning and the first goal is to render both old money and old politics not just worthless; but as a testament of its corruption.

Our power is a destituent one. A power which robs the current laws and politics of any meaning through displaying their total corruption. This empowering a new system which they cannot affect, they cannot touch, and they cannot corrupt. We can do this through shattering the current economic-political monopoly, and rending those powerful in old world indifferent to that of the digital realm.

We seek to reactivate Law as it was suppose to be, rather then attempting to constituting changes through the corrupt system of today. The laws of the old world are meaningless in this digital space; and now we need to make this is true in the world of flesh and steel as well. Once we see that abandonment of the current political architecture is the only way forward, that we will be able to start to creating our new form of politics.

The digital system radically divides itself from the state system of laws through a political praxis of non-violence. Through protecting information with encryption, and widely distributing media against corruption and injustice as a form of truth, we can create a new world.

The legal violence which enacts state laws and creates their power simply cannot exist here: there is no territory in which it can apply itself. This radical division is what fundamentally divides our codified digital laws from contemporary violence made laws. We don’t need the violence of statism to cooperate.

The Digital Commons as an Economic and Political Praxis

Through the power of the internet and the digital commons, we can recreate our systems of government to be the Utopian fantasies they were dreamed to be. We can reactivate the power of being ruled by constitutions–agreements to what we are entitled to as citizens. This can allow for us to be governed by the science and immutability of technology, rather then the finicky wills of men who corrupt with ease for selfish gains. No longer do we need to tolerate the violations of our sacred compacts, and the trouncing of the very rights which create our governments.

The deployment of all of these new cryptosystems with harden cryptography is not just a mathematical breakthrough, but the roots of an epochal change. The economic power of digital currencies deposes of state economic system in exchange for a digital one. This is just the very beginning of the deposition of power away from the hands of the state, and back into that of the people. Over the next decade these systems are going to fundamentally challenge the state, and their control on every level of life.

This power deposes because it is an explicit exit from the current, corrupt economic and political system that is pervasive and all-encompassing in our lives. In the digital, the whole multitude of society can exist; with no minders or masters. Here we have chosen to construct all of this for ourselves, without the help of our masters of state, or their capitalist allies who have corrupted our systems of government for private gains.

Towards the Future

We can create a radical new world where the freedom of all is not just a hope, but a reality. The power of technology has drawn us closer then we have ever been before, and now we can see the world as it truly is:

There are untold billions of us living in the most destitute of situations, fighting for the smallest of scraps from Empire. Once we see that there is the greatest of strengths in creating a new form of digital solidarity which can beat back the beast of global fascism, we then might stand a chance for a real future which we are no longer slaves; but truly free to determine the world which we will make.

Bitcoin Theory

The Political, Social, and Economic Impact of Bitcoin

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