The Politics of Bitcoin: Software as Right-Wing Extremism (Forerunners: Ideas First)
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This is the presumption that computer-based expertise trumps that of all other forms of expertise, sometimes because everything in the world is ultimately reducible to computational processes (a view sometimes known as computationalism; see Golumbia 2009).
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Views that appear to be conspiratorial at one time may become established or even proven history at others; conversely, established history can turn out at later moments to have been fabricated. It is not the case that merely labeling an idea “conspiracy theory” means it is necessarily untrue.
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we might say that Bitcoin activates or executes right-wing extremism, putting into practice what had until recently been theory.
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“corporate tyranny, meaning tyranny by unaccountable private concentrations of power, the worst kind of tyranny you can imagine.”
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the only equality they are interested in is the ability of each person to empower himself fully against the claims of others.
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A person storing their savings or profits from business in Bitcoin has absolutely no reason to expect that that value will be maintained over even a short time frame, and in fact has every reason to expect that it will not.
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In this sense, it becomes a tool for existing power to concentrate itself, rather than a challenge to the existing order: as some better economically informed commentators consistently point out, Bitcoin functions much more like a speculative investment than a currency