Hello everyone, I’m Kimi. “Virtual currency trading platform” is not allowed in the title, but I think what China rejects is not the platform or the currency speculation.

What China really rejects is the extreme technological rationality represented by blockchain, and the reconciliation between this technological rationality and liberal ideology.


Bitcoin is the work of a group of classical liberal technology geeks. The reason why this group of geeks came up with this thing is because they are very dissatisfied with the current state of liberalism and want to transform society through technological means and restore the glory of classical liberalism.


What is the core of classical liberalism? Private property.


The blockchain technology, which is abstracted from this digital currency system, embodies the demands of liberalism everywhere: absolutely true, absolutely safe, absolutely trustworthy, and absolutely free. This is the ultimate technical rationality, and it is the first time that humans have tried to directly use technical means to change production relations.


The scary thing is that this technology is logically sound. Bitcoin has been running for 14 years without a single mistake. In comparison, how many mistakes have banks made in these 14 years?


So the question is: if blockchain is so powerful, why do we need authority? Many things can be done without authority, with direct peer-to-peer interaction, without third parties making a profit from the price difference.


For example, a certain novel website signed a tyrannical contract with the author. Well, now that we have blockchain, we can directly create a novel platform based on blockchain, let miners maintain the operation of the platform, and let authors and readers trade peer-to-peer. From now on, authors are free, no company can deprive them of the copyright of their works, and no third party can intervene to make a profit from the price difference.


So let's continue to interpret: since a novel website can realize automated and orderly operation without a company, then can a guild do the same? Can a game do the same? Can a team do the same? Can a society do the same? (Here I would like to mention the Metaverse. In fact, the essence of the Metaverse is not a VR game, but an electronic preview of a "decentralized society". It was not the VR industry that promoted the popularity of the Metaverse at that time. What is the biggest challenge facing private property today? The modern financial system.


What does the modern financial system represent? The power to coin money.


Therefore, this group of geeks used currency as a starting point and created a digital currency system, trying to use this digital currency to challenge the modern financial system, the blockchain industry. Many people have a superficial understanding of the metaverse, and do not understand the ideological issues behind the metaverse, and simply understand the metaverse as VR hype. However, the metaverse has nothing to do with the topic discussed today, so I will not elaborate on it here.)

Bitcoin geeks do not intend to kill authoritarianism. What they want to do is to bypass authoritarianism and marginalize it.


To put it bluntly, do you think Bitcoin is just a set of virtual currency? Wrong, Bitcoin is a representative of liberalism and a link in the ideological struggle. The birth of Bitcoin means that the ideological struggle has been upgraded from the traditional propaganda and cultural struggle to the technological struggle.


This struggle is extremely cruel. Once the geeks' ideas become reality, capitalist countries may launch a revolution in production relations. Their power may increase significantly, which is very unfavorable to socialist countries.

There are always people saying that cryptocurrency speculation is harmful to property safety. Let me tell you something unpleasant. If you go bankrupt, you go bankrupt. Do you really think that the bankruptcy of a few gamblers will cause much harm to the country?

What the country is worried about is not the cryptocurrency speculation and gambling, but the ideological issues hidden behind Bitcoin.

The blockchain industry is now becoming more and more mature, and too many new technologies, new ideas, and new concepts have emerged.

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