Fabrício Tota criticizes bitcoiner libertarians. Playback/Youtube.
The director of the Bitcoin Market, Fabrício Tota, stated that the biggest mistake made by cryptocurrency enthusiasts was to “mix it with ideology”, as this would end up in a “dangerous path”.
In the last video of the series “Preconceito”, on the Spotniks channel, they put the crypto enthusiast Fabrício Tota and the fund manager Luiz Alves to talk (unbeknownst to them). Luiz is skeptical of bitcoin and other cryptocurrencies.
In one of the themes of the board, each one should say what would be the biggest mistake of the cryptocurrency enthusiasts and skeptics. For Alves, the biggest mistake in Tota’s opinion would be “trying to look for the next bitcoin”.
The director of the Brazilian exchange then replied that the biggest mistake made is mixing with ideology.
“’Well, there doesn’t have to be a State’… ‘Tax is theft’… Put* man, mixed with ideology I think it gets complicated because I think then we’re going down a dangerous path and I think there’s no connection, like …you are very limited in the conversation you can have. I think this mixture is dangerous.”
Did the creator of Bitcoin make a mistake in mixing technology with ideology?
As we discussed in the article “Visions of Satoshi: Was the Creator of Bitcoin Libertarian?”, the connection between bitcoin and libertarianism, criticized by Tota, goes back to the early days of cryptocurrency.
In November 2008, even before the launch of the Bitcoin network, Satoshi Nakamoto commented to cryptographer Hal Finney that his invention would be very attractive from a libertarian point of view.
This was evident, as most of the technologies that allowed Bitcoin to emerge were created with cypherpunks, advocates of the right to privacy and individual freedom.
Cryptanarchists sought to develop ways to make state censorship impossible, and that was how they would gain their financial sovereignty, without having to ask permission. In the end, this is what Bitcoin seeks to achieve.
As Bitcoin enthusiast and pioneer in Brazil Daniel Fraga explained, Satoshi’s intentions do not matter, but the fact is that his technology is very compatible with the anarcho-capitalist philosophy.
Bitcoin’s encryption and computational power make the network resistant to censorship, as Tota points out. Added to this, decentralization and the network effect make changes in monetary policy difficult, as this is only possible if there is a broad consensus.
For these reasons, Bitcoin may be technology neutral, but it is resistant to different political ideologies. And this is a relevant point of its disruption with the current monetary system, because without it, it would not offer anything new.
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