To Mark Twain is attributed the saying ""
The central bankers' continued acquiescence and developing regulation of BitCoin, recent media attention, and booming exchange price, are reminiscent of the World Wide Web in the early 1990's. The Web broke into the public consciousness around 1993 or so, and sparked a stock market boom and bubble that lasted the better part of the decade. It was going to change everything. Some thought it would make us all more free and prosperous.
To a certain extent it has. For the wisest and most motivated, the Internet and related technology can enable a great deal of economic independence and freedom. But for the average person, arguably it has not lead to greater prosperity, but has enabled corporate and government interests to collect and retain incalculably greater amounts of personal information in ever-expanding areas of life. Networks have become adept tools for mass surveillance. On balance, the expansion of communication networks has created a greater threat to personal privacy and freedom than ever seen before.
It appears that a similar scenario is playing out with BitCoin. I'm not advising anybody to get in or get out, but just be aware of the historical parallel. It may be that BitCoin or something like it (perhaps a replacement coin that better facilitates credit expansion by banks) may one day become either compulsory, or the only practical currency for most transactions. If this happens, in an absence of social change on the order of the Second Coming, it will be because the central bankers allow it to happen and are the principle beneficiaries. For most people, it will not lead to an increase in freedom, but to a surer captivity. Imagine a world without any generally accepted currency or cash (no paper bills or coins) except for trackable electronic certificates, with every account tied to a personal or corporate identity through a coercive registration system backed by tireless robots sniffing through computer networks. The wisest may (or may not) escape slavery in this sort of system, but the vast majority of ordinary people will be unable to escape to any meaningful degree.
The remainder of this post after the present paragraph is lifted word-for-word from an anonymous comment at Robert Wenzel's Economic Policy Journal blog. I'm repeating it here in this much more obscure journal "for the record," so to speak, without endorsement or criticism. DARPA is publicly acknowledged as the developer of the Internet; so far as I know nobody has publicly taken credit for BitCoin. Nonetheless speculation that the origins of BitCoin are shrouded in secrecy not because BitCoin is too subversive of the current order, but because it is being promoted by that order, are not totally implausible.
"NSA/DARPA created bitcoin under the guidance of the IMF. The IMF has been openly calling for a digital, one-world, deflationary currency for 2 decades. OPENLY. It has been discussed and promoted OPENLY at G8 and G20 summits.from the early 90s-96 the NSA was OPENLY investigating cryptographic money networks.
One of their researchers and investigators is a man named Tatsuaki Okamoto. When they actively started writing the code they chose the pseudonym "Satoshi Nakamura" to ultimately promote the idea that Tatsuaki Okamoto to any and all who investigated the source of bitcoin long enough. But Tatsuaki Okamoto is just a cog. He's not some rogue savoir out to topple centralized banks. Not at all. He is a crypto scientist who was paid by government and intelligence agencies to do research.
Bitcoin is an NSA/DARPA lab set into the wild. Scientific technology grants issued by government and intelligence agencies are how these labs are funded and promoted. The regulation and control of bitcoin has been actively developed alongside the development of the network. In fact, the controls, policy and regulation are WAY WAY more mature than the bitcoin protocol itself. That's why we see things like Greenlist written into law without a mention of bitcoin until recently.
This is not tinfoil hattish. This is just reality. No one forced ANYONE to believe the Satoshi fairytale.. The libertarian Satoshi myth has been promoted in stealth to specifically promote ADOPTION and DEVELOPMENT. It's no different than the internet and WWW itself. EXACTLY the same. That is why you see many www early adopters saying bitcoin "feels" the same as the early internet. I am one of those people.
In 94-96 the public internet was ALL about freedom of information. FREE COMMUNICATION. It was ALL about liberty and freedom. I wish i could transport some of you back in time so you could see for yourselves. The promise of free phonecalls with the freeworlddialup, free media with IUMA and the MBONE. All this freedom and liberty had people pouring their heart and soul into developing it. Now look at it. Facebook, google.. it is a GIANT SURVEILLANCE grid. And if you look for and read DARPA/NSA docs from the 80s and early 90s that was what it was always meant to be. I am not discounting all the socially great things that happen online.. But from the perspective of DARPA/NSA and control freaks.. it was created for the express purpose of control. A military purpose. A strategic purpose.
What is bitcoin? Bitcoin IS the one world digital currency. We all have a deterministic UUID that has been generated from our biometric data. This UUID will be related to all your datastores. This UUID is your mark. This UUID is what is used to buy and sell online and in the real world. This UUID is the primary key in your Greenlist identity."