Trump, Crypto & Libertarianism

Ironically, I think that US President Donald Trump's love of Crypto might create a beast he cannot control.

Bitcoin, by it's nature, is decentralized and anonymous. It is still, by far, the most popular Cryptocurrency. And while Donald Trump will focus on promoting coins that he can control (notably USD1 controlled by Eric Trump and Donald Trump Jr.), Bitcoin will always be there in the background as the beating heart of the crypto economy.

While centralization of crypto will undoubtedly create massive wealth for the early investors (as it always has), any kind of official recognition will increase the power of the decentralized coins as well. If the major banks or US government created a platform for "officially" transferring crypto, it would pave the path for financing libertarian agendas on both the left and right.

This kind of official Crypto was first proposed by self-described Libertarian Marxist Yanis Varoufakis (as far as I know) in his book Another Now. His vision shows Crypto as the backbone of a digital economy and government, leading to the ability to create digital democracy.

If we, as the crypto community, are careful in how we allow our technologies to be regulated, we have the potential to use the favorite tool of modern oligarchs against themselves to create a more decentralized and representative government.