Kingdoms and Crypto

Whenever we notice that two different things (trends/ideas/concepts) are in fact fundamentally related in an interesting way, it is probably a good idea to pay attention. I recently noticed this is the case for two things I care about, the growing popularity of cryptocurrency, and the re-emergence of a distaste for monarchies. I will briefly explain how these seemingly unrelated things are due to one reason, the innate human desire for freedom and liberty.

For centuries monarchy was the most common form of government in Europe and much of Asia, with many countries from the latter region having rulers from the former. This arrangement works great for monarchs, they get to exploit their subjects for generations at a time and consolidate their holdings in real estate, equity, and power. Back then, the feeble masses stood no chance against their overlords. The propaganda, coercion, and poverty that monarchs would use to control their realm were formidable barriers for the average person to stand up against. With such an extensively documented history of oppression that some of these families have inflicted on millions of the less fortunate, it is almost comical how news about them being racist today might make a headline. After a couple of World Wars, several Independence Days, and Revolutions many of these monarchies are no longer. Every year billions of people celebrate the day that they no longer lived under the rule of a single blood line. With power distributed among people instead of one family, the desire to live equally won out overtime. But one important aspect of modern life remained centralised as the new republics were born. Money. Money went from having one lady’s face on it to a couple of different people’s face on it. Progress, but not far enough.

A paper was posted on the internet in 2003, under the pseudonym Satoshi Nakamoto, that outlined a new way people could engage in exchanging digital scarcity - Bitcoin. A fun side project and interesting bit of computer science at first, a global trillion-dollar movement next. Bitcoin solves the problem of distributing power over money from centralised banks to the individual. The invention of Bitcoin was a singular event and done with intention. The creator/s used a pseudonym for this purpose. As time passes by and people continue to see mismanagement of their national currencies, much like monarchs of old would mismanage their state, they will desire an alternative that is immune from such manipulation. Now they have an alternative. The currency the average person uses is no longer a matter of chance like their skin colour or social standing. Now it is a choice. And the thirst for liberty can only be quenched by liberty itself so more and more people are making that choice.