Conservatives Should Welcome The Rise Of Cryptocurrencies

Conservatives Should Welcome The Rise Of Cryptocurrencies

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.