fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Thursday, March 23, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
Online Crypto College
No Result
View All Result

Gilded Age Greed and Golden Bitcoin

May 28, 2022
in Bitcoin
Reading Time: 5 mins read
A A
Gilded Age Greed and Golden Bitcoin
ShareShareShareShareShare

Related articles

Ripple’s Chief Legal Officer Reacts To SEC’s Wells Notice to Coinbase

Ripple’s Chief Legal Officer Reacts To SEC’s Wells Notice to Coinbase

March 23, 2023
DOGE Rebounds, LTC Climbs 13% Higher – Market Updates Bitcoin News

DOGE Rebounds, LTC Climbs 13% Higher – Market Updates Bitcoin News

March 23, 2023

Dr. Riste Simnjanovski is a tenured professor of public administration at California Baptist University. Most recently, his published research explores digital assets in the public and private sectors.

In 1873, Mark Twain and Charles Dudley Warner copublished the novel, “The Gilded Age: A Tale of Today.” While the text doesn’t receive the recognition it should, possibly as a result of the direct attack on American politics, it’s a brilliant piece of literature that Bitcoiners may find amusing. In any event, I strongly encourage readers to take a peek at it. The correlations to what Americans face in 21st-century politics seems to overwhelmingly mirror history. In my opinion, the correlations to Bitcoin are easy to spot.

One of my favorite Twain quotes states, “Suppose you were an idiot, and suppose you were a member of Congress, but I repeat myself …”

Twain, and the lesser-known Warner, had a knack for satire in a way that was a bit offensive and vulgar at the time, if not compelling and true, to a fault. If Twain had a Twitter account, he’d have millions of followers and perhaps an equal amount of vocal objectors.

The deeply-rooted corruption of American politics at every level is pervasive and systemic. All perspectives agree that corruption exists, government officials pick winners and losers in business and business returns the favor by financing their next “elected” official. The irony is that the actual era, i.e., post-Civil War America, is now literally defined as “The Gilded Age” taken directly from Twain and Warner’s satirical book.

The process of gilding is pretty straightforward: you take something of little or no value and apply color to it in order to create the illusion of wealth. One might imagine a tin coin, painted with a golden hue to resemble a gold coin.

At the time, what on the surface appeared to be a booming economic and industrial era for all of America was, well, gilded. There were massive disparities between the wealthy and the poor as well as a heavy focus on materialism in some circles.

The wealthy financed their empires on the backs of the poor, as did local and national politicians; one might argue that not much has changed today. In that way of financing, wealth gaps grew and lavish lifestyles that were thrust in the face of a starving working class bubbled over. What appeared golden on the surface was worthless underneath. How often have we witnessed politicians pass laws that eventually turn tax dollars into dividend payments for their personal portfolios?

Do not allow your business professors to preach that this era was the economic boom of a lifetime in America — these moments defined greed, slavery and corruption. Regular Americans had little to no recourse. If Bitcoin were around during the Gilded Age, the government itself may have been considered a shitcoin. Most recently, the collapse of Luna is a reminder of this corruption and greed. As always, Bitcoin is different and the significance of this will only be more brightly illuminated when more centralized scam projects collapse in a cascade of carnage. Regardless of what side of the aisle you’re on, if you’re targeting the opposing side, you’re not paying attention; greed is apolitical.

Between the years of 1870 to 1900, the world took notice that America was booming (for some). As a result, a massive migration west took place. Native Brits, Scots and others braved horrific sea and land journeys in an attempt of securing an opportunity of new prosperity. Unfortunately, many of these talents were wasted as immigrants mostly worked for massive corporations such as John D. Rockefeller’s Standard Oil, Cornelius Vanderbilt’s railroads and Andrew Carnegie’s Carnegie Steel Company. (In case you were unaware, Carnegie Steel Company eventually became J.P. Morgan’s U.S. Steel monopoly … and oil tycoons also have deep roots in Big Pharma. There is a reason many medical field products have a petroleum base. Just saying … but let’s get back to Bitcoin.)

Perhaps Twain and Warner were on to something in their acknowledgment of the inequalities during this period in time. The Gilded Age was, in many respects, political corruption masquerading as freedom and opportunity. Has anything changed or have the veils and tactics simply been updated?

There is a popular phrase in the Bitcoin community that states, “Fix the money, fix the world.” What if Bitcoin existed at that time and any excess currency earned by laborers could have been stored, immune to political corruption, confiscation, inflation or political party? Technologically, all that existed at the time was gold and silver, yet many of the poorest people of the nation could not even buy fractions of coins; in Bitcoin, buying fractions of coins is possible.

I would propose that fiat is a gilded currency, that centralized protocols are gilded projects and that society is witnessing, in real time, the proverbial paint chipping away. The unhappiness society is facing isn’t with one another as the media forces us to believe; the unhappiness is with the realization that what we’ve been sold and the currency we need to purchase it, is all gilded. Many politicians themselves are gilded. If fiat personalities were a thing, they’d have followers on Twitter lusting over their golden hue.

Yes, fiat currencies are important as a medium of exchange, but they are (and will continue to forever be) a terrible store of value. The deflationary aspects of Bitcoin, specifically, the fact that there will only ever be 21 million bitcoin and that every four years the reward for mining the coins is cut in half, only make the asset more pristine to people who do not own any bitcoin as they reflect on history and become exposed to Bitcoin. The economic crash that has been occurring throughout 2022 will only mint more Bitcoiners.

Bitcoin fixes money with no gilding required. However, can Bitcoin also address an unfulfilled soul by providing humanity an opportunity to seek their true purpose? My recent assumption is a society untrusting of a gilded reality, may have also questioned their own existence.

In previous articles and a book, I’ve addressed an unfulfilled soul, but how can fixing money help the soul or address this issue of a gilded world? I would propose that these concepts are not interdependent, but they may be interconnected. Yes, corrupt people with more resources will spread corruption; but what of good people?

What if good people, with good intentions, strong values and a solid moral compass had access to the same resources the robber barons did during the Gilded Age?

What would the world look like? What about politics? Business? Industry? Your family?

I suggest that the quiet bitcoin community (QBCs are the ones not trending on Twitter) is going to forge a new route for the next generation as they turn their backs on centralized projects and adopt Bitcoin.

These newly-minted Bitcoiners are not gilded, they’re real, and they’re genuinely disheartened with scam projects and centralized greed. Many in the “crypto community” are becoming Bitcoiners as they watch the paint chip away.

This is a guest post by Dr. Riste Simnjanovski. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Ethereum Gas Fees Touch New Lows, What’s Ahead For Ethereum

Next Post

LUNA 2.0 is Here, Crashes by Over 60% on First Day

Related Posts

Ripple’s Chief Legal Officer Reacts To SEC’s Wells Notice to Coinbase

Ripple’s Chief Legal Officer Reacts To SEC’s Wells Notice to Coinbase

March 23, 2023

The US Securities and Exchange Commission has shifted its target to Coinbase while still in a long-running legal tussle with...

DOGE Rebounds, LTC Climbs 13% Higher – Market Updates Bitcoin News

DOGE Rebounds, LTC Climbs 13% Higher – Market Updates Bitcoin News

March 23, 2023

Litecoin was one of Thursday’s biggest gainers, as prices rose by as much as 13% in today’s session. This came...

SHAmory Announces Satoshi Plush That Will Support The Built With Bitcoin Foundation

SHAmory Announces Satoshi Plush That Will Support The Built With Bitcoin Foundation

March 23, 2023

21% of the proceeds of the sale of Satoshi will be donated to the non-profit BWB organization. SHAmory, a Bitcoin...

Xapo Bank enables USD Coin (USDC) deposits and withdrawals 

Xapo Bank enables USD Coin (USDC) deposits and withdrawals 

March 23, 2023

Xapo Bank has announced that its members can now directly deposit and withdraw their USDC stablecoins on its regulated banking...

Here’s How The Industry Will

Here’s How The Industry Will

March 23, 2023

If the US Securities and Exchange Commission’s (SEC) Wells Notice against Coinbase makes anything clear, it’s that the agency is...

Load More
Next Post
LUNA 2.0 is Here, Crashes by Over 60% on First Day

LUNA 2.0 is Here, Crashes by Over 60% on First Day

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Wasabi Wallet Releases Version 2.0.3, Adding Back Coin Control Amongst Other Updates

Wasabi Wallet Releases Version 2.0.3, Adding Back Coin Control Amongst Other Updates

March 21, 2023
The Innovations Of Cronos, Tezos, And DigiToads Make Them a Must-Have

The Innovations Of Cronos, Tezos, And DigiToads Make Them a Must-Have

March 18, 2023
The Fed has capitulated – daily swap lines introduced as Bitcoin feeds off liquidity

The Fed has capitulated – daily swap lines introduced as Bitcoin feeds off liquidity

March 20, 2023
Bitcoin Price Analysis: 27609 Absorbed

Bitcoin Price Analysis: 27609 Absorbed

March 18, 2023
Vechain to offer an innovative blockchain waste management

Vechain to offer an innovative blockchain waste management

March 22, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • IOTA and Web3 Builder NakamaLabs explore the benefits of tokenization with real-world use cases
  • Ripple’s Chief Legal Officer Reacts To SEC’s Wells Notice to Coinbase
  • Federal Reserve Admits Blindsided Oversight of SVB Collapse
  • Congressman Emmer introduces bill providing ‘safe harbor’ to miners, developers and wallets
  • Uphold ends staking for US customers following SEC guidance
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$28,365.003.05%
  • ethereumEthereum(ETH)$1,823.594.44%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.01-0.25%
  • binancecoinBNB(BNB)$330.581.68%
  • usd-coinUSD Coin(USDC)$1.00-0.38%
  • rippleXRP(XRP)$0.4458793.85%
  • cardanoCardano(ADA)$0.3724322.50%
  • dogecoinDogecoin(DOGE)$0.0776514.68%
  • staked-etherLido Staked Ether(STETH)$1,817.264.39%
  • matic-networkPolygon(MATIC)$1.130.36%
  • solanaSolana(SOL)$22.182.19%
  • binance-usdBinance USD(BUSD)$1.00-0.66%
  • polkadotPolkadot(DOT)$6.283.00%
  • litecoinLitecoin(LTC)$93.399.81%
  • shiba-inuShiba Inu(SHIB)$0.0000112.01%
  • tronTRON(TRX)$0.0657369.97%
  • avalanche-2Avalanche(AVAX)$17.574.38%
  • daiDai(DAI)$1.00-0.27%
  • uniswapUniswap(UNI)$6.243.01%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,437.003.41%
  • chainlinkChainlink(LINK)$7.605.39%
  • cosmosCosmos Hub(ATOM)$11.733.54%
  • leo-tokenLEO Token(LEO)$3.38-0.18%
  • ToncoinToncoin(TON)$1.98-17.90%
  • ethereum-classicEthereum Classic(ETC)$20.723.81%
  • moneroMonero(XMR)$156.214.53%
  • okbOKB(OKB)$45.01-0.39%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • bitcoin-cashBitcoin Cash(BCH)$128.091.32%
  • stellarStellar(XLM)$0.0926922.47%
  • filecoinFilecoin(FIL)$5.905.57%
  • AptosAptos(APT)$13.166.19%
  • true-usdTrueUSD(TUSD)$1.00-0.73%
  • lido-daoLido DAO(LDO)$2.33-0.91%
  • hedera-hashgraphHedera(HBAR)$0.0623581.37%
  • ArbitrumArbitrum(ARB)$1.45-71.21%
  • quant-networkQuant(QNT)$127.101.51%
  • crypto-com-chainCronos(CRO)$0.0701152.18%
  • nearNEAR Protocol(NEAR)$2.045.16%
  • vechainVeChain(VET)$0.0236523.24%
  • blockstackStacks(STX)$1.160.50%
  • algorandAlgorand(ALGO)$0.2182440.14%
  • internet-computerInternet Computer(ICP)$5.193.71%
  • apecoinApeCoin(APE)$4.144.77%
  • fantomFantom(FTM)$0.4925463.96%
  • the-graphThe Graph(GRT)$0.1532897.10%
  • eosEOS(EOS)$1.165.45%
  • the-sandboxThe Sandbox(SAND)$0.662.78%
  • decentralandDecentraland(MANA)$0.614.42%