This is an opinion piece by Conor Chepenik, a MassAdoption Bitcoin meetup organizer.
Congressman Brad Sherman’s recent tweet attacking Bitcoiners as “tax evaders” is a prime example of how Bitcoin has become mainstream. It’s ironic that politicians like Sherman, who are sworn to uphold the Constitution and the presumption of innocence, are so quick to label Bitcoin supporters as criminals without any evidence. Such comments undermine the fundamental principles of justice and fairness that underpin our justice system.
The fact that politicians like Sherman are attacking Bitcoin serves as a signal to those on the fence that there may be something to this “freedom money” that is constantly under attack by those corrupt and compromised by legacy systems. . In a way, even those attacking Bitcoin may be unwittingly working for its success and adoption.
And clearly, politicians expect Bitcoiners to shoulder some sort 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 calculations or using English to express their opinions. They would be ridiculed and mocked because, in addition to being foolish politics, these two subjects are essential to a functioning society.
Instead of imposing arbitrary taxes, the government should focus on creating a regulatory environment that supports innovation and economic growth. Unfortunately, in opposition to this seemingly obvious edict, the Biden administration has proposed a 30% tax on Bitcoin mining, which is not only unfair, but also hypocritical for the values that make America great. .
If a market player has paid for his energy, he should be free to use it as he sees fit. So why is bitcoin mining targeted when other industries, such as porn, video games, or gambling, also use energy to allow people to indulge in their vices? on line ? I am not in the running for a tax on other industries. I firmly believe that if a market player has paid for his energy, he can do what he wants with it. My intention is to point out that this proposal appears to be a clear example of government intervention and excessive intervention in the private sector.
Respond to change
And it’s not just Bitcoin mining that’s being targeted. It’s the whole bitcoin network. When new and innovative ideas challenge the status quo, humans and technology can resist or embrace the change. Technology mimics many things about human biology, including how we respond to change. Established industries or entities may resist new technologies to protect their own interests, much like how our immune system responds to foreign pathogens to protect our bodies. However, just as humans can adapt to changing environments, technology can also evolve and adapt to better meet our needs. People can either fight Bitcoin or embrace it, but either way, this technology is rapidly changing the world.
It is important to remember that new technologies, including Bitcoin, are not inherently evil, but rather a tool that can be used for both good and bad ends. Instead of fighting against progress, we should seize the opportunities that new technologies offer and work together to shape a better future. Sherman’s tweet may not get him any votes, but it shows his lack of understanding and respect for the rights of his constituents.
The comparison between a technological network and human biology may seem unconventional, but it provides valuable insights into the evolution and growth of new technologies like Bitcoin. Kevin Kelly’s Book”What technology wantsunderlines its importance. There are three quotes that really stood out to me:
“Technologies do not exist in isolation, but rather in networks that amplify their power and reach.”
“Innovation is a team sport, and the best innovations are produced by networks of people working together.”
“The more interconnected our technologies become, the more emergent properties they exhibit and the harder they are to predict or control.”
Technology is constantly evolving based on human needs. It starts with a small idea and then grows into something bigger than anyone could have imagined. This evolution is not always linear, as new technologies often emerge from existing technologies. These networks are growing exponentially faster as new technologies enable things we never thought possible. FaceTime would seem magical to someone 100 years ago in the same way that a medical device capable of regenerating people’s limbs would seem magical today. I guess this type of technology will come one day and with it many other innovations that I could never have imagined before seeing them.
But, just like humans, technology has its own set of rules and laws. We must follow these rules to make the most of the potential of technology. Imagine if someone called a conference on TCP/IP a “conference for gang members”. It would seem ridiculous. Especially from a politician who should be encouraging innovation in his neighborhood.
Attacking people because they like to use a protocol is insane. However, if your job was dedicated to maintaining legacy technology and adopting new technology could render you useless, I suspect you would not react favorably to new technology either.
Embrace changing technology
Ultimately, we are all part of the web of technology, 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 everything that will be built on these new protocols, so it is up to us to harness their power and make the most of their potential.
I can’t say I know for a fact that bitcoin is well over $1 million, but I think it’s damn possible, and plus the network effects add up, both in the meat space and in cyberspace, the more likely it becomes.
“When Zero reached Europe some 300 years later in the High Middle Ages, it was met with strong ideological resistance. Facing opposition from users of the well-established Roman numeral system, the zero struggled to gain traction in Europe.
–Robert Breedlove, “The Number Zero and Bitcoin”
Now, the idea of not using zero in math is a non-starter. It seems very likely that bitcoin will have a similar fate to zero and the idea of not using bitcoin and all the things built on it will be absurd. Look at Nostr, for example. There’s no way the protocol would have thrived if Bitcoin and Bitcoiners hadn’t brought so much value to the network.
I think a similar effect will happen for more innovations around the world, whether regulators understand Bitcoin or not.
This is a guest post by Conor Chepenik. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.