Elite Grifters in the Crypto Economy
Grifter — a swindler, dishonest gambler, or the like.
Grifters are nothing new in crypto. They’ve been involved since early on, but have always been the ones on the fringe. Not always obvious, but usually found out over the long run. Experienced crypto investors & users have learned how to spot them and tune them out.
Today, however, there are new grifters taking up the fight to co-opt BTC and crypto technology in general. Some, like central banks, are obvious. It’s clear that their work to co-opt crypto technology is nothing more than a continued power grab. Less noticeable, but ever present, are the techno-elite, such as Jack Dorsey.
Dorsey, the very man whose company censors and de-platforms anyone who disagrees with the approved narrative, “loves” BTC and crypto so much that he has integrated it into Twitter and now wants to build mining equipment.
Here we have a man who approves and directly supports the shutting down of anyone who dares to question “the narrative”. Anyone who wants to explore dissenting views of many “off limit” topics will be shut down by this man and his companies. Yet, he “supports” the decentralized efforts of BTC and crypto. Does that strike anyone else as strange?
If one supports and engages in censorship, they support and actively engage in telling people what they can and cannot say, do, read and/or listen to. If one supports and practices censorship they believe, on some level, that they are a central authority on the very issues which they censor. If one engages in censorship on one or more particular topics in which they are not truly well versed in, it is logical to conclude that at some point they will expand the number of topics that they censor.
However, if one supports and engages in decentralization they support and actively engage in the process of distributing and delegating powers away from a central authoritative group.
Based on the Law of Noncontradiction one cannot both support censorship and decentralization at the same time. The line in the sand is so obvious that it more resembles a giant, impassible wall. Despite the push to turn the general public away from logic in modern times, logic still remains a fact. By nature, facts cannot be disputed because they are simply objective truths.
The obvious contradiction of Jack Dorsey and his companies raises another important question. Why would a man who actively engages in censorship desire to produce technology which would support the antithesis of censorship?
Broadly speaking, there are only two possible answers.
- He wants to turn away from censorship and towards decentralization.
- He wants to turn away from decentralization towards censorship.
If one is intellectually honest with themselves, based on the continued suppression of dissenting viewpoints on Twitter, there is only one logical conclusion which can be drawn. Jack Dorsey is interested in higher levels of censorship, not lower.
When someone with active participation in censorship, thereby centralization, wants to build technology for decentralization, I will immediately reject that offer. While we could speculate on his specific motivations, we will save that for another exercise. All we know is that, despite what words he or his PR team use, Jack Dorsey cannot truly support the efforts of decentralization. Therefore his motivation to supply the market with BTC mining technology cannot be trusted. Because it cannot be trusted, it simply must be rejected.
The bottom line is that grifters come in many categories, and one’s financial success does not necessarily make them a trustworthy counterparty in all exchanges. While more mining equipment manufacturers should be welcomed into the space, those manufacturers should at the very least have a track record, or the reasonable belief, that they favor decentralization. Dorsey and team have the exact opposite reputation. Make of that what you will, but from a personal perspective, I reject the notion that mining equipment manufactured by Team Dorsey is good for the ecosystem.
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