Internet Freedom: The Implications of Bitcoin on the Global Economy by Stefan Molyneux

WeAreChange,an independent media organization, posted an interview with StefanMolineux  speaking on the importance of Bitcoin in relation tothe average person’s social and economic freedoms. 

Who is Stefan Molyneux?

The guest is aCanadian producer of the site called Freedomainradio, a podcast production company covering a wide range of topicsfrom economics, where Stefan holds the side of anarcho-capitalists, tophilosophy and ethics, challenging traditional family values.

In the interview,Stefan also made a reference to his entrepreneur days. He told the hostinterviewer, Luke Rudkowski that some part of him stillyearns for the entrepreneurial spirit of that time nevertheless, he is overall happyto be where he is now. 

Bitcoin not dead and loving it

To warm up, Luke askedthe guest about the media’s current stance on Bitcoin and if cryptocurrenciesare, in fact, dead and just don’t know it yet.

Stefan laughs at such athought, as he believes that the media’s skeptical approach to Bitcoin is justanother sign of its success. The demise of every new tech, especially in thecase of digital coins is always predicted and, a natural occurrence in their advancement.The cryptos would disappear from the public eye if nobody talked about them.And as we all know, negative publicity is still publicity as more and morepeople are getting involved with each passing day.

Stefan noted thatpeople still heavily rely on mass media for their information - be it TV,radio, newspapers or the internet, but reiterated that this can, in fact, havea positive overall influence on Bitcoin, citing a quote he overheard a dayearlier, “I don’t care what you write about, just make sure you spell my nameright.”

Stefan also finds itamusing that people today tend to still heavily rely on big financialinstitutions, believing that if anything resembling such (like MtGox, which hereferences) goes under, the system will collapse. However, he reassured thatthe system is much more robust and such an event will be no more than a drop inthe bucket in the cryptocurrency world.

Lizardmen ruling the Coin

Luke laughs as heturns the interview in a new direction mentioning that there has not been ashortage of conspiracy theories springing up around Bitcoin being a government-createdtraceable digital currency designed to impose greater control over its citizens.

Stefan retorts thatthere are as much conspiracies behind Bitcoin as there are in the world ofpeople believing in lizardmen controlling the world behind the curtain. Today,all money is digital, so in this regard there is no difference between cryptosand fiat aside from Bitcoin not being centrally controlled by governments andcentral banks.

Stefan makes anotherimportant point, emphasizing that calling Bitcoin a “currency” or “coin” is notquite correct, preferring the term “ecosystem of information transfer”.Although, the day when I stop calling digital currencies digital coins willprobably never come, there is a truth in his words. Bitcoin is new and unique whereold definitions simply cannot be applied if you want to get an accuraterepresentation of the whole picture.