Why Cryptocurrency is the Next Operating System for Capitalism
Chris Herd
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Chris, I like your piece. However I agree with Todd below — Bitcoin only has value because people believe it has value — monetary value is a human artefact like language or laws. So I think what is happening goes deeper than you suggest. I think what we are witnessing is people waking up to their creative abilities. We are starting to realise that the ability to create value rests with us, not governments or banks. It is possible to see the $30 billion of base money in the world as one of the most impressive creative acts of humanity of all time. If we can do this what else can we create? I work with a project called Bitcoin Enhanced which is explicitly using this human capacity to create a new asset class that is independent of the current financial system — silos of value created entirely by people themselves. In the end we are talking about empowerment and self-realisation. What a time to be alive!