Will Cryptocurrencies Overturn The Established Political And Financial Elite?

The other day I stumbled across a talk given recently by Stefan Molyneux at the last TNW Conference in Amsterdam, entitled ‘Bitcoin vs. Political Power: The Cryptocurrency Revolution’. You can see the talk on YouTube here:

The speech quickly spread around the web and Stefan even credited it as being a possible reason for his Freedomain Radio YouTube channel being mysteriously, yet temporarily, suspended the other day.

In the talk Stefan details how governments have been able to grow exponentially this last century since they replaced gold backed money with paper fiat currencies that can be printed at will, in effect a form of legalised counterfeiting. Stefan exposes how these government currencies create political and military power and benefit a small financial and political elite at the expense of everyone else who toils to produce goods and services that consumers want in the real economy.

After the history lesson, Stefan then explains how cryptocurrencies offer a whole new financial system with self-limiting and de-centralised monetary supplies that could be mankind’s best chance to check the growth of political power since the Magna Carta and lead to a much freer, more peaceful and prosperous world.

If anyone is keen to learn more about Bitcoin, and cryptocurrencies generally, my Pivotal Tribes meetup group is hosting a panel of Bitcoin specialists in June at London’s Google Campus.