People are frightened by the change; every time new ways of expressing themselves, communicating, trading, or even cooking food, painting, writing, playing soccer appear, the common denominator presents resistance to that change; it is probably a completely human response, the fear of the unknown.
When the Internet emerged, many people did not see it as too useful; in fact, world-renowned economists, such as Paul Krugman, who received a Nobel Prize in Economics, and who today has a completely progressive vision of economics, said, a couple of decades ago, that the Internet would not have a great impact on the world at an economic level; and that same person a couple of years ago said something similar about bitcoin, clearly, in both statements, he was completely wrong.
The history of the Internet and Bitcoin has happened even with household appliances; at the time, refrigerators also came under scrutiny, as did Facebook, Twitter, and a long list of projects that were not taken seriously at the beginning, but in most cases, doubts are settled thanks to the well-thought-out campaigns of influential groups, businessmen and politicians who simply look after the interests of these same power groups.
For example, after several decades, different scientific studies have emerged that warn about the risks that sugar consumption produces and its harmful effects on health; after a whole campaign was launched against the sugar sector, new potential competitors to sugar began to emerge, which presumably would be healthier, as is the case of aspartame, a non-caloric sweetener, to which they now allegedly attribute carcinogenic properties. Nowadays, most of the “scientific studies” that affirm or contradict the benefits of different products are generally paid for by the same companies or interest groups that market those products, so what, can we really trust them?
It is difficult to determine if aspartame, stevia, or sugar is healthier to sweeten foods or beverages, what is clear is that most of the positive things that are said about some are sponsored by their own producers, and the negative ones are also they are sponsored, but by their competitors; and this type of commercial and narrative battles are also transferred to the economic and political field; in that sense, if some currency or cryptocurrency (such as bitcoin) begins to become an obstacle to the monopoly on money that central governments have, guess who will try to destroy it? The answer is simple.
During the last centuries, the political and economic systems have faced changes that favor better or worse living conditions for their citizens; the time that perhaps brought the greatest prosperity, innovation, and benefits to mankind was the industrial revolution that started in the UK and would soon begin to spread throughout the world.
The appearance of the industrial revolution, despite its benefits, also had enemies at the time, the working classes thought that machines far from facilitating their work, what it would do would be to replace them and thus they would lose their jobs; Today, something similar happens with digitization and artificial intelligence; besides of course, as we have already mentioned, decentralized currencies.
The important thing about all this is to highlight how great innovations always present resistance from a good part of the population, motivated in large part by the manipulation practiced by governments and power groups through their means of influence, even so, in spite of this, great ideas always win out. For all this, the question is not whether cryptocurrencies will be able to revolutionize the world’s economic relations because they will, the question we should ask ourselves is: When will cryptocurrencies become the main trading instruments in the world?
What do you think about this topic? Have you already used a cryptocurrency?
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