Cryptocurrencies : a space of liberty in danger ?

By Breizh.cryptos | Breizh cryptos | 31 May 2022

A geek who doesn't mean us any good ? :

I saw the news a few days ago on a french cryptonews website :about Sam Bankman-Fried, who is the head of FTX, (one of the biggest cryptocurrency exchange platforms. Binance remains quite unchallenged among the centralised ones). In an interview with Jacob Goldstein on the "What's Your Problem?" podcast (linked below), he declared that he was ready to intervene in the 2024 american election.

For an amount of several hundred million dollars or even up to a billion dollars.  That's gigantic. And guess against whom? Donald Trump of course...

I don't want to reopen Pandora's box as to the influence of GAFAM (now called MAAMA given the names changes of Facebook into Meta, and Google into Alphabet), on the 2020 US presidential elections...
But I'm just pointing out that the cryptocurrency industry, and some of its most active members, standed for principles and values of freedom (some people even call them like "crypto punks"). Crypto-currencies were supposed to bring anyway changes to the world with decentralisation, and maybe even renovate democracy. That's part of the promises of this technology.

However, I don't think this is the path Sam is taking with that kind of declaration. The (sad) reality is that the enemies of freedom are everywhere. And that young idealists who become rich and powerful can become dangerous, whether their name are Bill Gates, Marc Zuckerberg or...Sam Bankman-Fried. It's a matter of discussion and point of view of course.

But i want to underline the fact that this very desire for power and meddling in the democratic process should convince us, the citizens, to prefer decentralised solutions. In that way adopting decentralised solutions permitted by the blockchain, we could avoid the control of a charismatic leader or a concentration of power in the hands of one person or a very few. Even if it is well-intentioned at the beginning, we have the negative experience of some Big Techs in mind (for example Facebook...). And hell is, as they say, paved with good intentions...

This is also why I don't want to use the FTX platform anymore (CEX strike for everyone !) and why I am becoming more and more Bitcoin maximalist. It alone provides the guarantee that no charismatic leader can use his means to get involved in politics. Unless perhaps we track down Satoshi Nakamoto. However probability is very few comparing with those very existing people like our Sam here. 

Breizh Cryptos.

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A French crypto fan wanting to tell his thoughts about the world of cryptocurrencies and what it implies in our societies

Breizh cryptos
Breizh cryptos

Un espace où je réagis à l'actualité crypto, et fais part de mes réflexions sur leur impact dans nos sociétés. A personal space where i react and tell my thoughts related to cryptocurrencies and their impact on our societies

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