The Satoshi Revolution: A Revolution of Rising Expectations
Section 4: State Versus Society
Chapter 10, Part 4
Crypto and the New Cold War
History is written by the victors.
Success is a great deodorant.
The winning side of a war writes the narrative; politicians, cultural leaders, educators, and the media create the “facts” that school-children know. The losing side can struggle for decades to crack open a window onto inconvenient truths and a more complete picture. “Unimportant” facts do not fare much better in textbooks. Marginalized nations and groups are overlooked or selectively noted according to their relevance to the winner-loser framework. Things get lost. Average people get lost, because history revolves not only around victors but also around kings and queens, presidents and generals. Average people are faceless subjects or cannon fodder.
The historical parallel to the crypto revolution is called the “revolution of rising expectations.” The term refers to a condition in which even a slight increase in freedom and economic well-being make people believe they can improve their lives. They can benefit their families and future through action. The phenomenon rocked marginalized nations after World War II, from the Far East to Latin America and Africa, and it sparked political revolutions. The new order was often unpleasant, but that does not makes the phenomenon less remarkable.
Nothing in living memory has destabilized the world as thoroughly as World War II, and its aftermath. It wrecked industrialized nations that had anchored Europe; the world map was redrawn; America became the dominant empire; communism became a “bloc”; and the Cold War defined foreign policy until the fall of the Soviet Union in 1991. The destabilization was more than political. It was also economic, social, and cultural, because the fabric of society is a seamless web in which everything connects.
A similar destabilization is occurring within currency, with crypto poised to play a unique role in the redefinition of the global economy and personal freedom. For one thing, crypto enthusiasts are among the few who will applaud the destabilization of a corrupt system (central banking) and view it as an opportunity.
The Return of the Cold War
After almost two years, hysteria still permeates the media over Russia’s alleged interference in America’s 2016 elections. This obsession is a manifestation of a larger global conflict in which America and its allies—albeit, some reluctantly—are pitted against Russia and China, along with their allies, and against the nations that America has alienated through policies of invasion, sanctions, and other forms of aggression. The global rivalry is for political influence, trade advantage, territory, and the future of space and the Arctic.
In short, a new Cold War is in progress. Since the collapse of the Soviet Union, the U.S. has been the world’s ruling power, but competitors and dissatisfied “customers” now contest that status (at least, economically). Once again, the undeclared Cold War is between super powers. Once again, individuals and marginalized nations will benefit as best they can from the opportunities that arise from economic disruption.
Unlike many other disruptions, the currency crisis is