“As with many breakthroughs, most people think about
bitcoin as an alternative to something they already know, as opposed to an
enabler of something they never considered,” a comment by Adam Ludwin a
co-founder of chain.com a bitcoin developer platform. Computers are more than
just for typing, who ever thought of all these apps on a smart phone even a
decade ago, digital age has so much potential.
The age of crypto currencies is here to stay. Once something
is discovered or created, the knowledge cannot be undiscovered. When the likes
of Richard Branson, founder of Virgin group support crypto currency say in an
interview with Bloomberg that bitcoin “is working and there will be other
currencies like it that may be even better, but in the meantime there is a big
industry around bitcoin.” It is now time to consider the future seriously.
Adventurers of money like Richard Branson use money and
understand better for practical purposes, this is why control of money must
move away from monetary economists and be free from central bankers that use
money for the purposes of controlling a society. Central bankers believe they
understand the bigger picture than the humans who have to abide by their
decisions. Or maybe central bankers through the banks want to decide who gets
loans and thereby control who gets to be a big business person.
Joseph Schumpeter at the beginning of the capitalist age
talked about creative destruction as part and parcel of the capitalistic
system. That is what happens when the human mind is unleashed, society will
keep on adapting to new knowledge and resulting change in modes of production
and living.
Nobody wants a typewriter today, people born a decade ago
have never seen a typewriter.. True with change there are always vested
interests that will try to undermine the future. Stage coach operators bad
mouthed the coming of the railways, as if stage coaches are safe. Who today
prefers a book for a street map or GPS. There are still newspapers out there
but the likes of Google have taken away much of their advertising revenue, and
the trend will continue, advertising budgets will more and more flow to
internet based companies. Those with vested interests in a present mode of
living usually put up a good fight.
As central bankers and their underlings believe they have
resources that would make a stage coach operator confused, because at the least
the stage coach owner was an honest operator. Central bankers believe they can
protect their vested interests far better than stage coach owners, the right to
control money supply for their own ends. The main beneficiaries of central
banks, the commercial banks obviously have a disdain for crypto currencies just
as luddites feared the coming age of machinery.
The early railway men did not chase stage coach operators
away. They welcomed them to the new age, sell your stage coaches while you can
and put your money into railroads. Nobody wants yesterdays Blackberry let alone
last years Nokia. Soon nobody will want the farce of money that can be printed
at a whim for the advantage of a very few who have the most interest in keeping
the farce going on for as long as possible. Nobody is chasing bankers away
especially their shareholders, the future has arrived and they are very welcome
to participate in it like Richard Branson.
The digital age is at its infancy, it will continue to
grow making our lives more convenient, and allowing us to have access to minds
that would be barred by traditional media. This is a freedom for mankind. Those
with the urge to control society of course are fighting this digital age at its
infancy before they lose purpose for controlling, besides freedom of speech
that the internet has allowed, heavily controlled with policing in most
countries, Snowden revealed this to be true not just in communist China but
in the most unexpected of countries the
USA. Honest money is further loss of control for humans with twisted minds.
Nobody knows the future, but the digital age will demand
a most honest form of money, always delicately balancing itself, in this more
enlightened tomorrow too much interference will knock the entire system of
balance. We need to trust human development and evolution, need to trust
society not a few who want to control society for their benefit, slowing down
human progress.
No more Tesla’s will die in poverty after contributing so
much because it suites those who control money. Nobody will dominate
theoretical physics, talk of wormholes, future space travel yet those who
discover the maths are shunned for ideological reasons, this age must and is
coming to an end there will be no money for social engineering, one need not be
a cripple, transsexual, one should be allowed to be a straight black male to
voice out their discoveries, one must show the knowledge. Humans to reach full
potential need a free market, there is no such thing as a free market when so
few determine the supply of money. Money is meant to be neutral so that we can
understand price signals.
The age of crypto currencies is here, like it or not. Do
not try to fight it, you will be wasting your valuable resources, join in,
nobody is chasing anybody, it is just the future, why desire to control others.
Think about it, an age in which every transaction is recorded as it happens,
destination of every coin known, encryption ensuring confidentiality, this is
the dream of economic scientists, when GDP is calculated daily, less need for
government statistical departments, more need for private sectors to higher
best, those who know how to gather the right information in an age full of data
that will all be available to all on the internet. As Branson implied, the
bitcoin is the tool of now, possibly something better will take its place, but
crypto currencies are here to stay and dominate the future.
Bhekuzulu Khumalo
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