THELOGICALINDIAN - n-a
Facebook bread is the additional awful uncle at the crypto bells this year, afterwards JPMorgan best out Lady In Red by Chris de Burgh and winked at the maid of honor.
Nate Popper’s New York Times piece provided acceptance by Facebook ‘insiders’ of a crypto play, built-in to WhatsApp, that could acquiesce users to accelerate money instantly. And accumulation acceptance doesn’t appear abundant added massive than Facebook.
So why does it feel as admitting the bride’s center to Tucson, and we’re continuing about at a abbey in Memphis?
Because for abounding of us, cryptocurrency isn’t aloof about money – no amount how awe-inspiring that may sound.
The movement against decentralization has been fueled by the excesses of banks, and the surveillance commercialism of tech platforms that accept acquired untold billions in accumulation from ‘extracting the aspect of you’ and affairs it to… well, everyone.
Some of us accept in that movement.
In the aftermost three months of 2024, U.S. banks fabricated $62 billion in profit. If every developed in America had contributed appropriately to that figure, we would accept paid the banks $243.00 per being – about $1,000 per year each, at that rate. (And to put it into context, the boilerplate American disciplinarian alone spends a little more, $330.00 per quarter, on gas.)
Meanwhile, the consensual barter of accessibility for aloofness has fabricated Facebook an action whose belvedere has facilitated acclamation artifice and indigenous cleansing, live-streamed annihilation and suicide. It charge be the backbiting of buried quasi-military agencies.
Those extremes accept arisen because the vox populi hasn’t been aloft to abutment an alternative. What another could there be?
But now we accept cryptocurrency. We accept a technology to annihilate our accepted civic tendencies against Orwellian corpocracy.
Projects that assure our abstracts accept sprung up; projects that seek to actualize censorship-resistant admission to information; projects that will accommodate banking admittance in arising markets.
We (and I beggarly those of us who are actuality for added than aloof profit) are not anti-capitalist; we are pro-liberty. And cryptocurrency represents the adventitious to barb aback some of our own power.
And although some are actuality to get-rich-quick, abounding of us accept at atomic some angle that the democratization of accounts is a amount basic of our claimed freedom: that empowerment is economic, not aloof political. (And possibly alike that able commercialism is around duplicate from berserk communism.)
Usury is an abracadabra chat in crypto these days, but the facts are simple: banks accept become greedier than ever. The technology that amusing media companies action is not account the amount we pay for it.
Which is why the access of caked entities like JPMorgan and Facebook should not be account for anniversary amid crypto aficionados. “Lending the area legitimacy” is no amend to the confiscation of our area for their continuing accumulation and power.
If we anticipate for a distinct moment that the account of decentralization is avant-garde by Facebook’s accomplishing of a cryptocurrency, we charge to anticipate again.
Decentralization is the action by which ascendancy is removed and reallocated. It charge be accepted that centralized organizations will abide this movement.
And how would they resist? From the outside?
I dunno. Maybe I’ll ask this Greek guy with the big board horse who aloof popped over for a cup of sugar.
The columnist is invested in cryptocurrencies.
