Popular cryptocurrencies like Bitcoin and Ethereum have
generated a huge buzz across global markets in recent years, yet these digital
tokens are often culturally associated with the tech behemoths who reside in
Silicon Valley. Like many nascent technological innovations, cryptocurrencies
and the underlying blockchain technology which are powering their evolution are
frequent considered to be more related to the cultural left than to the
cultural right. Just because the tech centers of the United States are located
in left-leaning areas doesn’t mean conservatives can afford to ignore the
latest innovations, however.
Here’s why conservatives should welcome the rise of
cryptocurrencies, which stand to reshape economics as we know it today.
Cryptocurrencies are
the future
If there’s one thing that can safely be said about
cryptocurrencies, it’s that they’ve continuously defied the doom-and-gloom
filled predictions that have repeatedly foretold of their demise.
Cryptocurrencies like Bitcoin have been harshly attacked from their earliest
days on the marketplace, with many asserting that they’re not worth the time,
money, or attention of serious investors. As time goes on, however, it’s going
to become increasingly clear that cryptocurrencies are the future when it comes
to making safe, secure payments.
Cryptocurrencies are already being harnessed to bypass
stringent government overregulation of the market, to such an extent that Cuban
officials are now relying on them to bypass American sanctions.
While some nefarious actors will also use new technological innovations for
evil purposes, we shouldn’t allow a few bad apples to squander the potential of
a miraculous technology that could free us from government intervention in the
economy. Until now, we’ve needed a strong state to step in and enforce currency
regulations, but the advent of cryptocurrencies could enable us to leave big
government behind while embracing a new era of personal freedom and
responsibility.
It should thus come as little surprise that those who love
Bitcoin are overwhelmingly identifying as right-wing
libertarians. Even those who don’t consider themselves to be libertarians when
it comes to most political issues admit that cryptocurrencies have a
tantalizing allure, as they’re the only technological innovation capable of permanently
removing government oversight from many private transactions.
As intrusive regulators infringe upon our rights more and
more, relying on digital tokens like Bitcoin and Ethereum to conduct private
transactions that the government has no right to monitor will become more and
more important.
No wonder they want
to regulate them
It should come as little surprise that leftists across the
political spectrum want to regulate cryptocurrencies. After all, they’re
terrified of losing their grip over the economic wellbeing of everyday people.
Those who support massive government programs and free handouts for those who
are unwilling to provide for themselves need to eradicate cryptocurrencies, as
they stand to revoke the authority of bureaucrats who intrude upon our private
business agreements without consequence.
Democrats like Maxine Water have
already gone to the mat in an effort to regulate
cryptocurrencies. These progressives understand that if they lose the ability
to raid the pockets of private citizens at will, they’ll never be able to fund
the outrageous government programs which are the only reason they’re
re-elections are assured. In other words, preventing cryptocurrencies from
maturing like the guests at Skylark Senior Care, is necessary for
progressive candidates who want to maintain an unduly firm grip over the
economy and intrude into the lives of private citizens who are just trying to
make a living for themselves.
With private companies like Facebook now afraid to foray
into the world of cryptocurrencies because of the immense government oversight
that would be waiting for them, we’re already seeing how progressives intend to
commandeer the future of the economy. Rather than allowing innovation and the
natural evolution of the marketplace to occur, they’re trying to stifle new
developments that would challenge their ability to control things from the top
down. The truth of the matter is that cryptocurrencies scare progressives, who
can’t accept that private citizens may finally have a way of doing business
with one another without needed excessive government oversight in their lives.
Don’t expect
cryptocurrencies to slow down
Despite the immense headwinds they’re facing,
cryptocurrencies aren’t going anywhere anytime soon. Far too many private
actors are invested in cryptocurrencies and the underlying blockchain tech that
powers them for progressives to succeed in their quest to overregulate the
market. Nevertheless, private investors interested in cryptocurrencies should
continue to fight back against intrusive government oversight that would
mitigate economic activity for the benefit of a handful of Democratic
politicians.
Politicians like Maxine Water may demand that
cryptocurrencies become another tool that the government can use to bludgeon
private actors into obedience, but the free market can’t accept the demands of
bureaucrats who would get rid of personal autonomy. Cryptocurrencies enable us
to exchange goods and services without excessive government oversight in our
lives, and for that reason alone they must be ardently defended.