Cryptocurrency and Communism: Are You Safe?

With more Wall Street giants taking a liking to cryptocurrency, one might think this technology is yet another capitalist tool. Yet, blockchain and Bitcoin have roots in communism. Call it a technological take on the original ideas of Karl Marx. With crypto popularity at an all-time high, are you and your family safe?

CRYPTOCURRENCY AND COMMUNISM: UNDERSTANDING THE ROOTS

Karl Marx, author of the Communist Manifesto and the father of Marxism stated that capitalism was a flawed system and the world would eventually shift towards communism. In this new world, people would earn rewards based on their labor and power would become decentralized. Does any of this sound familiar? Take crypto miners for example. Miners receive “block rewards” for solving the complex equations and recording transaction. Furthermore, blockchain technology depends on the ledger being transparent, and completely decentralized. It’s the stuff of communist dreams but can it really infiltrate our society beyond where it is now?

CRYPTOCURRENCY AND COMMUNISM: IS IT ENOUGH TO BEAT CAPITALIST

Due to it’s anonymous and decentralized nature, many communists believe that Bitcoin and blockchain technology were specifically designed to take down the modern capitalist system that dominates most of the world. Using this technology, a financial revolution very well might be possible since it removes the power from the hands of just a few and distributes the wealth. This is all very nice in theory but how realistic is it? Sorry to say, but cryptocurrency is capitalist in nature and will stay this way.

CRYPTOCURRENCY AND COMMUNISM: CAPITALISM WINS

Sure, cryptocurrency and blockchain will change the way we make transactions but it will not bring about a communist revolution. People are getting rich off of cryptocurrency and that in itself is capitalist behavior. Ultimately, it will likely improve our current system but not replace it entirely.

If you want to take advantage of this market while it’s still in its infancy, then head over to YouHodler.com and request a loan. Using crypto as collateral, you can receive a cash or USDT loan nearly instantly to your wallet. With an industry best loan to value ratio of 80%, this platform makes sure you get the most out of your loan and return on your investment. So don’t worry about the communists. Start investing in crypto now before it’s too late.

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