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

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

Who is Stefan Molyneux?

The guest is a Canadian producer of the site called Freedomain radio, a podcast production company covering a wide range of topics from economics, where Stefan holds the side of anarcho-capitalists, to philosophy and ethics, challenging traditional family values.

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


Bitcoin not dead and loving it

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

Stefan laughs at such a thought, as he believes that the media’s skeptical approach to Bitcoin is just another sign of its success. The demise of every new tech, especially in the case 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 more people are getting involved with each passing day.

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

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


Lizardmen ruling the Coin

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

Stefan retorts that there are as much conspiracies behind Bitcoin as there are in the world of people believing in lizardmen controlling the world behind the curtain. Today, all money is digital, so in this regard there is no difference between cryptos and fiat aside from Bitcoin not being centrally controlled by governments and central banks.

Stefan makes another important point, emphasizing that calling Bitcoin a “currency” or “coin” is not quite correct, preferring the term “ecosystem of information transfer”. Although, the day when I stop calling digital currencies digital coins will probably never come, there is a truth in his words. Bitcoin is new and unique where old definitions simply cannot be applied if you want to get an accurate representation of the whole picture.