The left missed Bitcoin as a transformative tool for wealth creation, including for ordinary people and especially for the working class.
They dismissed it as something “for the rich,” when in reality Bitcoin created wealth for many people who were not wealthy before. It also gave millions of people access to a monetary network that does not require permission from banks, governments, or legacy financial institutions. For the unbanked and underbanked, Bitcoin is not a toy for speculators. It can be a lifeline, a savings technology, and a way to participate in a global financial system.
Bitcoin is for everybody.
One could write an entire book on how badly the left misunderstood it: a decentralized, open, censorship-resistant monetary system that anyone can join, regardless of class, nationality, race, or status. These are values the left should have recognized immediately. Instead, many chose to see only the billionaires, the volatility, and the speculation, while missing the deeper revolution.
Now the same thing is happening with AI.
AI has the potential to liberate people from menial, repetitive, and soul-crushing work. It can give ordinary people tools that were once available only to corporations, experts, or the wealthy. It can amplify creativity, education, productivity, and entrepreneurship. Used correctly, it could lift millions out of poverty and radically expand human potential.
And once again, much of the left reacts with fear, resentment, and prohibition.
They are positioning themselves on the losing side of another technological revolution. Being a Luddite does not work. It did not stop industrialization, it did not stop the internet, it did not stop Bitcoin, and it will not stop AI.
The right question is not how to stop these technologies. The right question is how to make sure they remain open, accessible, and empowering for everyone.
If you want an inexpensive but exhaustive source of Bitcoin data I recommend https://t.co/8oqTkTojLR. It is great. They even have a nice power law chart and power law data you can download.
Bitcoin is the first asset ever that no government can control. Gold could be controlled through government mints and treasuries/ central bank regulation and laws requiring the coin of the realm, and ultimately confiscation.
They can mint a little bit of Bitcoin but it is too late to manipulate structurally. It is autopoietic (self-generating and maintaining), reflexively locked in a long term power law, and it is the first truly scientific monetary standard in history.
@gladstein Fiat money basically came into existence to cover up the fact that the British people had the good sense to not buy their government's WWI bonds.
From The Fiat Standard:
Turning homes into savings accounts is one of the worst consequences of @thefiatstandard destroying money.
Stop using your home as a saving account. Buy only as much home as you need and save in bitcoin. Rug the real estate shitcoin so houses get cheaper forever, as they should.