This is an opinion editorial by Conor Chepenik, an organizer for the MassAdoption Bitcoin meetup.
Congressman Brad Sherman’s recent tweet attacking Bitcoiners as “tax evaders” is a prime example of how Bitcoin has become a mainstream phenomenon. It’s amazing that politicians like Sherman, who swear to uphold the Constitution and the presumption of innocence, are so quick to label Bitcoin supporters as criminals without evidence. Such statements undermine the basic principles of justice and fairness that underpin our legal system.
The fact that politicians like Sherman are attacking Bitcoin serves as a signal to those on the fence that there is something to this “liberty currency” that is constantly being attacked by corrupt and compromised legacy systems. . In a way, even those who attack Bitcoin may be unwittingly working for its success and adoption.
And clearly, politicians expect Bitcoiners to shoulder some kind of tax burden that they don’t impose on anyone else.
Imagine if a politician tried to tax people for using computing power to do math or use English to express their views. They will be mocked and ridiculed because, beyond that a foolish policy, these two subjects are important in a social society.
Instead of imposing arbitrary taxes, the government should focus on creating a regulatory environment that supports innovation and economic growth. Unfortunately, in defiance of such a clear mandate, the Biden administration has proposed a 30% tax on Bitcoin mining, which is not only unfair, but also hypocritical of the values that make the United States great.
If a market participant has paid for their energy, they should be free to use it as they wish. So, why is Bitcoin mining targeted when other industries, such as pornography, video games or gambling, also use force to allow people to indulge their vices online? I don’t compete for tax with other industries. I firmly believe that if a market participant has paid for their energy they can do whatever they want with it. My intention is to point out that this proposal seems to be a clear example of government overreach and intervention in the private sector.
Reacting To Change
And Bitcoin mining is not the only focus. This is the entire Bitcoin network. When new and innovative ideas challenge the status quo, people and technology can either show resistance or embrace change. Technology mimics many things about human biology, including the way we respond to change. Established industries or entities may resist new technologies to protect their own interests, just as our immune system responds to foreign pathogens to protect our body. However, just as humans can adapt to changing environments, technology can also evolve and adapt to better serve our needs. People can either fight against Bitcoin or embrace it, but either way, this technology is rapidly changing the world.
It is important to remember that new technology, including Bitcoin, is not inherently evil, but a tool that can be used for both good and bad purposes. Instead of fighting against progress, we should embrace the opportunities provided by new technology and work together to shape a better future. Sherman’s tweet may not win him any votes, but it shows his lack of understanding and respect for the rights of his constituents.
The comparison between a technology network and human biology may seem unconventional, but it provides valuable insights into the evolution and growth of new technologies such as Bitcoin. Kevin Kelly’s book “What Technology Wants” highlights its importance. There are three quotes that really stood out to me:
“Technologies do not exist alone, but in networks that increase their power and reach.”
“Innovation is a team sport, and the best innovations are made by networks of people working together.”
“The more interconnected our technologies are, the more emergent properties they exhibit, and the more difficult they are to predict or control.”
Technology is always evolving based on human needs. It starts with a small idea and then grows into something bigger than anyone can imagine. This evolution is not always linear, as new technologies often emerge from existing technologies. These networks are growing faster as new technologies enable things we never thought possible. FaceTime seemed amazing to someone 100 years ago in the same way that a medical device that can regenerate limbs for people seems magical in the modern day. I believe that this kind of technology will come in the future and with it many innovations that I could never have imagined until I saw it.
But, like people, technology has its own set of rules and laws. We must follow these rules to exploit the potential of technology. Imagine if someone called a conference about TCP/IP a “conference for gang members.” It seems ridiculous. Especially for a politician who should encourage innovation in their district.
Attacking people because they enjoy using a protocol is insane. However, if your job is dedicated to maintaining legacy technology and adopting new technology you may be irrelevant, I believe you will not respond to new technology either.
Adoption of Technology Evolution
Ultimately, we are all part of the technology network, whether we like it or not. We must embrace the evolution of technology, and understand its potential to shape the world for the better. We are at the beginning of all the things that will be built on these new protocols, so it is up to us to use their power and exploit their potential.
I can’t say that I know for a fact that bitcoin has increased more than $ 1 million, but I think that it is possible and that, as more network effects are added, in meatspace and cyberspace, it is more likely that it can.
“When zero reached Europe nearly 300 years later in the High Middle Ages, it was met with strong ideological resistance. In the face of opposition from users of the established Roman numeral system, zero struggled to claim land in Europe.”
-Robert Breedlove, “The Number Zero And Bitcoin”
Now, the idea of not using zero in math is a non-starter. It seems likely that Bitcoin will have a similar fate as zero and the idea of not using Bitcoin and all the things built on top of it would be ridiculous. Just look at Nostr, for an example. There is no way the protocol could have evolved if it wasn’t for Bitcoin and Bitcoiners bringing so much value to the network.
I believe that a similar effect will occur for further innovations around the world, whether the regulators understand Bitcoin or not.
This is a guest post by Conor Chepenik. The opinions expressed are their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
