This thought came to mind when I started to notice the publicity that Max Keiser is getting online and in the press for Bitcoin.
I don't know enough about Mr. Keiser to comment on him particularly, but it occurred to me that we are potentially entering a period of time when Bitcoin "Demagogues" might begin to rise- profiting off of the publicity and the success of bitcoin.
The community that's been around for a bit longer will recount how paranoid we have been in alternating periods about Gavins stewardship of the code, but I think that paranoia should pale in comparison to the threat that real demagogues might pose to bitcoin. Max Keiser himself aside, there could be a significant danger, both real and existential, from any one individual that the 'outside world' might begin to identify as the face, or worse, "oracle" of bitcoin.
Being that Bitcoin is Open source, and thus like money- there is probably very little we can do about it. However those whom have been around even longer will remember acutely how the development of the internet was hijacked by corporate money once it's true potential became both obvious and inevitable.
Of course, not that I wouldn't mind some "Oracle" taking bitcoin to the moon and making us all millionaires, but it is reasonable to fear that just such a profit incentive might induce us to be complicit parties, or worse- the Bitcoin Foundation to be a complicit party.
Demagogues are a dangerous and inevitable product of fear and financial insecurity. Mix the current world economic situation with something that over-promises as much as Bitcoin does, and you're driving your Bitcoin Porsche drunk down the economic super highway.
(To Mr. Keiser, if he is reading this- honestly, i'm not talking about you, just using your success in the press as a growing face of bitcoin as an example. By all means- help make us millionaires.)
I don't know enough about Mr. Keiser to comment on him particularly, but it occurred to me that we are potentially entering a period of time when Bitcoin "Demagogues" might begin to rise- profiting off of the publicity and the success of bitcoin.
The community that's been around for a bit longer will recount how paranoid we have been in alternating periods about Gavins stewardship of the code, but I think that paranoia should pale in comparison to the threat that real demagogues might pose to bitcoin. Max Keiser himself aside, there could be a significant danger, both real and existential, from any one individual that the 'outside world' might begin to identify as the face, or worse, "oracle" of bitcoin.
Being that Bitcoin is Open source, and thus like money- there is probably very little we can do about it. However those whom have been around even longer will remember acutely how the development of the internet was hijacked by corporate money once it's true potential became both obvious and inevitable.
Of course, not that I wouldn't mind some "Oracle" taking bitcoin to the moon and making us all millionaires, but it is reasonable to fear that just such a profit incentive might induce us to be complicit parties, or worse- the Bitcoin Foundation to be a complicit party.
Demagogues are a dangerous and inevitable product of fear and financial insecurity. Mix the current world economic situation with something that over-promises as much as Bitcoin does, and you're driving your Bitcoin Porsche drunk down the economic super highway.
(To Mr. Keiser, if he is reading this- honestly, i'm not talking about you, just using your success in the press as a growing face of bitcoin as an example. By all means- help make us millionaires.)
I've written here.
