Cryptocurrencies and its political nature.

[Raffy11]

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

[Hydrogen]

people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

"Governed by code alone, making the contract digital sancrosanct."

That is a decent way of putting it.

Context is where economics discussions become complicated. Many have a tendency to define terms like centralization, regulation, capitalism/socialism and crypto in absolute context. To say that capitalism is always better than socialism is an oversimplification. There are strengths and weaknesses, advantages and disadvantages in everything.

[Milo_Kidd]

people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

"Governed by code alone, making the contract digital sancrosanct."

That is a decent way of putting it.

Context is where economics discussions become complicated. Many have a tendency to define terms like centralization, regulation, capitalism/socialism and crypto in absolute context. To say that capitalism is always better than socialism is an oversimplification. There are strengths and weaknesses, advantages and disadvantages in everything.

In every things in this world has its own strength and weaknesses or advantages and disadvantages. If this would be officially worldwide accepted I mean fully accepted, this has to be the most successful one. The nature of cryptocurrencies will be the one of the sign through modern era of the world market. It has to be better than money itself.

[Sled]

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

That is why the governments can't do anything about the cryptocurrencies but to try to regulate it and when they can't regulate it then they will just ban the cryptocurrencies and stick to their system like fiat. Governments always wants to control things and make profit out of it and that is the reason why they created fiat money.

[alani123]

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

There are internal power struggles in the crypto space too, there's no denying it. Bitcoin is the biggest cryptocurrency and arguably it's already fallen pray to speculators and developers that are more after personal gain other than integrity of the code base and the overall good of the ecosystem. Thankfully community outcry prevents major mishaps from taking place but it's not that of a great way to do damage control.

[jatin729]

now a days crypto currencies changes political environment, As you see month ago china and Australia made rules and regulation for bitcoins.
and recently china banned  exchanges.
World govts. is  about to legalize  cryptocurrencies.

[cpfreeplz]

The problem is people over react by a ton if some bad news happens in one country. Eventually I guess all of the sheep will get minds of their own and realize that even if 10% of the market banned bitcoins that would only be a 5%reduction in value because some people would continue to use it anyway.

[Gozie51]

people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

"Governed by code alone, making the contract digital sancrosanct."

That is a decent way of putting it.

Context is where economics discussions become complicated. Many have a tendency to define terms like centralization, regulation, capitalism/socialism and crypto in absolute context. To say that capitalism is always better than socialism is an oversimplification. There are strengths and weaknesses, advantages and disadvantages in everything.

You are quite right on that. Capitalism as postulated by Karl Marx  classified the society into two, the bourgeois and proletariat. The formal being the individuals with access to factors of production like capital, land, enterprising or entrepreneur(ing) skills etc and are able to employ the labour of the proletariats. He assumed that these two different classes are perpetual , that is, one can not move into another class either by descending or moving from proletariat to bourgeois. However, the current politics of crptos and bitcoin has been able to prove that a no body as (proletariat ) can overnight become overtly rich.

[olushakes]

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

I would aregue that crypto currencies does not have anything to do with politics and the political landscape of things because of the code which its solely rely upon, give room for maximum objectivity which is something that is scarce or even nonexistent in the political situation of every country. Comparing the two will mean comparing two things that are completely unrelated in my opinion.

[TheUltraElite]

There is no connection to crypto market to politics. These are all conspiracy theories that people believe in when they cannot explain something to themselves. Our mind does not easily accept everything and that is why we want explanations and whatever damn thing come to our minds first - our mind twist it to fit the explanation.

Crypto and crypto trading market depend on the people who are using the currency and/or trading it. There are some groups which carry different propaganda and they try to spread such news just to influence the people in the market to buy or sell some specific crypto. They may have their own reason why they spreading such FUD but trust me it works and people easily fall for it.

[Fortify]

Just because politicians talk about cryptocurrencies, does not make it political. While it might be beauty in code, bitcoin might fall because of mathematical limitations. The more popular it becomes, the more expensive transaction fees - you have to wonder how far it will scale and could it compete with say, VISA?

[Lieldoryn]

For me, the presence of market policy crypto currency obviously. Crypto currency make people more free and weaken the ability of the state to put pressure on people. For politicians this is not acceptable so we will soon see active struggle governments with crypto currencies. China is just the beginning.

[Iranus]

There is no connection to crypto market to politics. These are all conspiracy theories that people believe in when they cannot explain something to themselves.

If you were paying any attention to what crypto actually is, perhaps you'd think differently.  Especially since satoshi literally wrote a political message into the first block ever to be mined.
A somewhat unfortunate aspect of crypto is that having more money gives you quite significantly more power.  Nodes?  Just run a lot of them.  Miners?  Just run a lot of them.  Community?  Spoof the support and try to gain control of major media.

The network gets harder to attack as it grows but if richer people ever all have similar interests, the public could be misled into using a new chain with a raised supply or other features (or they'd lose money by staying on the old chain with much less economic support).

[Seansky]

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

One can still govern bitcoin and control it's price using money but still it is hard to keep it up all the time, they can only control price temporarily. You are right that bitcoin is only governed by code alone unless rich people will try to get people to use a centralized hardfork from bitcoin but this is most unlikely because most are here for decentralization.

[FlightyPouch]

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

One can still govern bitcoin and control it's price using money but still it is hard to keep it up all the time, they can only control price temporarily. You are right that bitcoin is only governed by code alone unless rich people will try to get people to use a centralized hardfork from bitcoin but this is most unlikely because most are here for decentralization.

No one can govern bitcoin and it's many users. Someone can make a ripple effect on the bitcoin's price but as you have said, it will be just in a while not temporarily the reason they are called whales, maybe. And also if people can govern it, maybe we are seeing a face of bitcoin now and that will not be Satoshi Nakamoto and someone who can be more taking the head now.

[Mometaskers]

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

There are internal power struggles in the crypto space too, there's no denying it. Bitcoin is the biggest cryptocurrency and arguably it's already fallen pray to speculators and developers that are more after personal gain other than integrity of the code base and the overall good of the ecosystem. Thankfully community outcry prevents major mishaps from taking place but it's not that of a great way to do damage control.

Yup, sounds a bit sad. But then again it's all that speculating that drove the price up. I know whales just pump and dump their holdings but hopefully, there'll be a large enough of supply split between small users.

[Barbarian]

people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

"Governed by code alone, making the contract digital sancrosanct."

That is a decent way of putting it.

Context is where economics discussions become complicated. Many have a tendency to define terms like centralization, regulation, capitalism/socialism and crypto in absolute context. To say that capitalism is always better than socialism is an oversimplification. There are strengths and weaknesses, advantages and disadvantages in everything.

About the last part of your comment, capitalism is better than socialism, there is not a discussion there, socialism has never worked once, capitalism do works, it has problems that is true but it is the only system that we have been able to use to run large societies.

[aso118]

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

It definitely is better money. Ask all those whose bank accounts have been frozen. You don't need the government deciding to seize your account. A banker can do it on the basis of some unfounded suspicion.

[hatshepsut93]

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

It is commonly thought that Satoshi had decided to create Bitcoin as a response to 2008 financial crysis, and also there were attempts to create independent cryptographic currency since the 90s. But Bitcoin is much more than an anti-government project - it is the first decentralized financial system, which goes far beyond everyone could imagine. If you are familiar with Austrian Economic School and works of Friedrich Hayek, you may know that he was proposing denationalization of money by giving all control to private businesses and removing any regulations. But Bitcoin took it one step further, as Bitcoin is governed by both the code and its users, so there is no central point of failure. So, I think Bitcoin is needed regardless of political system, i.e. even if governments and banks were 100% honest, I would still be pro-Bitcoin.

[UsernameBitcoin]

Cryptocurrencies are becoming political now because there is more money involved which means more politics.