{"id":458244,"date":"2021-03-09T01:00:31","date_gmt":"2021-03-09T01:00:31","guid":{"rendered":"https:\/\/uniquehot.com\/?p=458244"},"modified":"2024-06-11T14:13:49","modified_gmt":"2024-06-11T14:13:49","slug":"bitcoin-libertarian-anarchism","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-libertarian-anarchism\/","title":{"rendered":"Fund Manager Bashes Bitcoin: An Extreme Form of Libertarian Anarchism"},"content":{"rendered":"
As Bitcoin price<\/a> makes headlines across mainstream and financial media, skeptics of cryptocurrencies have come out of the woodwork in droves.<\/p>\n The latest skepticism comes from Tim Bond, partner and portfolio manager at Odey Asset Management, who claims that Bitcoin has very little benefit to society, and instead is an extreme form of Libertarian anarchism. But could there actually be truth in the bold, blanket statement?<\/p>\n Bitcoin is a subject that most economists<\/a>, tech enthusiasts entrepreneurs, and fund managers alike are asked about these days, as the asset has ballooned from under $10,000 to more than $50,000 per coin in less than one year.<\/p>\n Depending on who you ask, it is the most important technological revolution since the internet, while others might claim it is a bubble wait to burst.<\/p>\n Tim Bond, fund manager at Odey Asset Management, instead calls it “particularly vile,” “pointless,” and “damaging to the environment.”<\/p>\n Related Reading | Summing Up The Case For Crypto As The Future Of Collateral<\/a><\/strong><\/em><\/p>\n Bond claims<\/a> that Bitcoin isn’t only emitting more CO2 than most small economies, but that it is spearheading “a particularly extreme form of libertarian anarchism,” which he says is why the cryptocurrency is so popular amongst Silicon Valley types.<\/p>\n \u201cIf bitcoin starts to displace fiat currencies [government-issued currency that is not backed by a commodity], governments\u2019 ability to tax, spend and redistribute will be severely impaired,\u201d Bond continued.<\/p><\/blockquote>\n <\/p>\n Bond, however, is absolutely right about at least one thing: Bitcoin could severely impact a “governments\u2019 ability to tax, spend and redistribute” \u2013 a system that is arguably broken already.<\/p>\n Governments like the United States establish control over society through their money, and without that leverage, society won’t be as compelled to comply with taxation<\/a> and other forms of control.<\/p>\n While much of this infrastructure was designed for the benefit of civilized society, governments have abused this control and how they redistribute wealth is a major ongoing economic problem that only Bitcoin has the potential to fix<\/a>.<\/p>\n Related Reading | Why March Is The Bloodiest Month In Bitcoin History<\/a><\/strong><\/p>\nTim Bond Bashes Bitcoin As Pointless, Vile, And Damaging To The Environment<\/h2>\n
As Bitcoin grows in value, the more disruptive power it wields | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Crypto Anarchist Future Prefers Consensus Over Forced Taxation<\/h2>\n