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Is cryptocurrency right-wing? by forexbrokr

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· @forexbrokr ·
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Is cryptocurrency right-wing?
<center>![Is cryptocurrency right-wing?](https://images.hive.blog/DQmNaaS79FVheeiB7Xr9w6wC4YDXhUqW4zAzTboFCsooqaD/is-cryptocurrency-right-wing.png)</center>

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## Dogecoin co-founder Jackson Palmer has called cryptocurrency ‘inherently right-wing and hyper-capitalistic’. 

Did you see Jackson Palmer’s latest *tweetstorm*?

<center>https://twitter.com/ummjackson/status/1415353984617914370</center>

Yikes, right?

But it’s the following quote about crypto somehow being right-wing that seems to have garnered the most attention:

> “I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.”

Let’s take a look at whether cryptocurrency is right-wing and discuss the key aspect of cryptocurrency token distrubition.


### No, cryptocurrency is not right-wing. Lol.
Cryptocurrencies are designed to be autonomous, secure and censorship-resistant.

It offers all individuals the freedom to take control of and use their finances when needed.

**All individuals.**

Yes, this includes ‘right wingers’ and ‘hyper-capitalistic’ banks.

Just like it includes criminals, idealistic greenies and that dickhead down the street who kicked your dog once.

Shock horror, I know but you can’t pick and choose who is able to access the censorship-resistant properties of cryptocurrency.

Everyone has it or, or nobody has it.

It’s a pretty simple concept and something that the [Bitcoin mainstream media narrative](https://leofinance.io/@forexbrokr/thoughts-on-the-bitcoin-mainstream-media-narrative) continues to ignore.


### Cryptocurrency doesn’t care about your political ideology.
As a result, cryptocurrency doesn’t care if you’re right-wing or left-wing.

It’s almost laughable that a question involving the buzz words of *right-wing* has to be answered, but this is 2021 after all.

While many people like to spruik the narrative that cryptocurrency is for the people, its inherent design means that anyone can use it.

Again, *everyone can use it.*.

Right-wingers, left-wingers, criminals, banks and most importantly you.

Nobody can take away your ability to hold and use cryptocurrency, just like you can’t take away the ability for someone else to.

No matter how vehemently you disagree with their politics.



### But not all cryptocurrencies offer the same level of censorship resistance
While Palmer’s right-wing comments are a bit laughable, the question of centralisation is worth exploring a bit deeper.

Ultimately, it's hard to disagree with Palmer's sentiment that most cryptocurrencies are highly centralised.

They are.

Heck, a single [Dogecoin](https://leofinance.io/@crypto-guides/what-is-dogecoin-doge) address holds 27% of the total supply, while 50% is held in just 20 other addresses.

Like come on.

What’s really interesting though, is that in this current phase of the cryptocurrency hype cycle, decentralisation just doesn’t matter.

When normies are buying meme-coins, they’re not looking at the token distribution to ensure that they’re decentralised.

Just the answer to questions without answers like [how high can Dogecoin go](https://leofinance.io/@forexbrokr/how-high-can-dogecoin-go) or [can Dogecoin go any higher](https://leofinance.io/@forexbrokr/doge-usd-but-really-can-dogecoin-go-a)? 

But as the industry matures, token distribution and decentralisation is goin gto be THE ONLY THING that matters.

Crypto needs to be free, secure and censorship-resistant.

And it will be.

To achieve this, you can't have centralised token distributions or CEOs with the power to make decisions on their own.

This is what will set our very own HIVE token and [hive.io blockchain](https://hive.io/) apart.

Just take a look at [the token distribution of HIVE](https://leofinance.io/@theycallmedan/xiscfbxe).

No whale has close to 27%, let alone 20 wallets controlling 50% of supply.

I also highly encourage you to look back at the Justin Sun takeover of steem and learn how HIVE's current token distribution means it is impossible to repeat.

Also, keep in mind that while Sun may now have full control over the steem blockchain, the community forked to Hive and investors technically retained the full value of their steem wallets now in HIVE.

Just compare the market price of each today.

Hive is a battle-tested solution to censorship.


### Final thoughts on whether cryptocurrency is right-wing
No, cryptocurrency is not right-wing.

As we spoke about above, cryptocurrencies are designed to be autonomous, secure and censorship-resistant for all.

They offer everyone the freedom to take control of and use their finances when needed.

**Everyone.**

You just have to make sure you’re using and advancing truly decentralised cryptocurrencies with good token distribution.

This is because as the crypto industry matures, we're going to see token distribution and decentralised blockchain governance be all that matters.

Because unless you want another bank account, it's the only thing that will.

And in this regard, no cryptocurrency can compete with HIVE.

Best of probabilities to you.

<br>

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**Direct from the desk of Dane Williams.**

*Why not leave a comment and share your thoughts on whether cryptocurrency is right-wing within the comments section below?  All comments that add something to the discussion will be upvoted.*

*This cryptocurrency blog is exclusive to [leofinance.io](https://leofinance.io/).*

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@automaton ·
Jackson is upset that he gave up on doge too early. On a brighter note at least he has the Honda he sold his coins for.  

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@forexbrokr ·
Savage, haha! 

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@fabian98 ·
This is the worst stupidity I have read today about cryptocurrencies.

What? That fool says that about cryptocurrencies and I bet he most likely owns that 27% stake.

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@forexbrokr ·
More like he *wishes* he kept his original Dogecoin stake.

[Palmer sold all his DOGE before the pump and bought a used Honda Civic](https://www.reddit.com/r/dogecoin/comments/lfl5iz/true_value_an_open_letter_from_billy_markus/), (not even joking haha).

I think at this stage, it's safe to say Palmer is just bitter.

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@jfang003 ·
I agree that crypto has no doesn't care about your political ideology. I think the biggest issue with these people is that they want to pander to the current mainstream media. Anything that they don't have full control is considered an enemy.

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@forexbrokr ·
Creating enemies makes people angry and when they're angry, they click.

Hashtag Marketing 101.

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@mykos ·
$0.02
Omg, are you kidding me? Crypto is 1000% right wing but it's not that way based on the will of the people it's moreso it just happened to go that way from its design. For example i don't believe it was meant to be right wing but it is. I'll explain in detail i had been thinking about that very idea this week. I wasn't aware Jackson Palmer had a thought about it. However he is 1000% correct no question.

Now is he butt hurt. Granted he is but that's nobody'd fault but his. Nobody told him to not take a project serious. I created my own token bitcoin myk. Let me tell you something.. it is totally divided. The people who invest in my token with me most of the way all the way or they not with me at all. It is no inbetween, however in our community that's what it seems to be. So i'd never be as stupid as jackson palmer and sell my own  project even if there is a 99.9% chance it will do nothing i'm still not going to do that he is crazy.

Now let's get to why he's right and you're 100% wrong. So let's go to the early days of bitcoin. In the early days of bitcoin you had a very utopian.. socialistic idea about giving power back to the people through their money and data etc., The developers who worked on bitcoin many were like jackson palmer.. Not in the sense of being stupid but some today are broke. They worked on bitcoin they didn't get paid they gave the bitcoin away.

So from the genesis of bitcoin what you have is this very anti capitalistic behavior and idea. You have this vision of bitcoin is about freedom. It's about setting men free. It's not about speculation and driving lambos and getting rich. Bitcoin was envisioned similar to how a currency works. People who are not very intelligent tend to think about crypto and currency trading as a means to make money and get rich. The practical use of a currency has no more value at $1 than it has at $1 million it's a medium of exchange. Shhh... but don't tell them that they too dumb to understand.


So listen here's what happened.. Take my example of early bitcoin.. bitcoin jesus .. roger ver walking around just handing out bitcoin to get people to try it. Just give it away all free if thats what it takes.. It's about a system of freedom. Money starts to come in, now we moving further to the right.,. Capitalism.. venture capitalist who want to find a golden goose out of bitcoin but they can't because its a freedom system.

Then some einstein determines wait a minute if we ship it as a store of value with endless speculation we make a fortune and so does all our partners and investors.. Afterall we don't care about men being free. We only care about if ou rfirm can make  bilions of trilions of dollars and damn everything else to hell. The birth of right wing ideology. 

The reason they stop monopolistic behavior..like the stats you gave of how one guy holds like 27% of a doge wallet. After changes in bitcoin like i just described it went from a free currency to the people to a system where over 87% of all the network is owned by only about 1%. Wow isn't that grand i wonder how that came to be?

So who would not want anti trust laws and things against this type of system. Right wingers..  The same guys who exist to call freedom the right to have an army go kill everybody in the world and take everyones lands to then say its mines and you taking our freedom lol.. Now in a system where its taken everybodies freedom in the entire universe and now its saying that its not right to take their freedom lol.

Wow isn't that amazing? haha. In this right wing ideology you can own yourself all the land and mountains etc., and under your idea of freedom its all yours. So what does bitcoin look like today? Does it look like the bitcoin that roger ver gave away all the bitcoin to people. that development teams worked hours on end for not a dime but a worthless bitcoin and a idea but they did it anyway for the love of freedom.

Does bitcoin look like that today? or does bitcoin look like a monopoly of miners who don't represent yourself or i. a centralization of wealth.. a centralization of developers.. a centralization of exchanges and a centralization of geography. haha

Does that look right wing to you? After which after people have violated every ethical principle in humanity.. from racism to homophobia.. to you name it they then seek out a safe haven in cryptocurrency can you believe it? lol.

Craig Wright gets up there and claims to be satoshi.. and the people go well no you don't sound like satoshi. Satoshi sounds benevolent and free. You sound like a person who is the posterboy for corrupt capitalism. that pushes out all representation of miners or the people who could have been miners because what Craig was saying was bitcoin was always meant to be mined by gigantic data centers lol. THat people at home was never meant to mine bitcoin this version of satoshi presented a vision of bitcoin that many of us never thought about.

I then went i think he's full of it but bitcoin and every crypto out there seems to follow this same right wing ideology of bad distribution.. power centers.. lack of decentralization. I know right wingers think freedom works the opposite way. THe problem is capitalism can't exist without a government to enforce it. To protect these companies abroad to collude with corporations domestically to forge corporatism the true form of capitalism thats at play like how craig explained  bitcoin works now.

Left ideology and i'm not left or right btw i'm for whatever works and realistic enough to know when something doesn't work. However i would say left ideology would seem more like early bitcoin than teh bitcoin and crypto markets that exist today. Because the left would be trying to prevent that from happening. It's not the right who will fight against monopolies or bank bailouts before the left lol. So its certainly more right leaning and you even seem right winged to me. if i wagered right now i guarantee you and most people in agreement with your thread are right wingers probably no doubt trump supporters if you in the united states. if not you most of your thread is lol. i guarantee it haha.

Now idk maybe thats not enough evidence for you. I think its a good start though. Before i leave i'd like to ask you about some stats you put up. You gave out some interesting hive stats. You made it sound like hive is just so much better distributed, lol. Okay.. i dont have the data in front of me but interesting enough i want to do a post on teh breakdown on just how well distributed the hive ecosystem is and if you have any sources i'd  certainly welcome places i can find all the data because i don't want to say much until i have it.

However i would ask when you brought up those witnesses and you said not a single witness is close to that 27% of one person holding one doge wallet lol. Which is generally my impression of how crypto works. the witnesses collectively what would you say their holdings are of the chain? I'd also then ask what percentile owns most of the network? i mean is it like bitcoin where like 1% owns over 87%. i'd like to get those figures because i want to first give hive the benefit of the doubt. Which something tells me not likely but we'll see.

You know the reality of the situation is if we really wanted freedom The cryptosphere would work more like how my project works bitcoin myk with a universal basic income. Now i know what you all going to think lol.  That sounds like something for nothing that sounds like socialism. Would it surprise you that richard nixon .. milton friedman the top of conservative politics and economics didn't see ubi approaches that way? that it is quite the american idea look it up.. i'll wait lol..

For some reason idk who has constructed this over the years.. Its weird in some ways the left even in some cases tries to make a case against it. However i would say the left would always fold to the idea. So that still goes back to right wingers who would put up the most resistance.. weird but it is what it is.

To my point if we really wanted freedom we'd just give everyone the cryptocurrencies like i do. THats what grant cardone the real estate guru said to do lol. He said it made more sense to do that. THen everyone would use it. WE dont do that.. " whispers" maybe because  we still want to in some right wing ideology enslave people under this false idea of capitalism".. just maybe lol

Anyway thats my thoughts on it. Jackson Palmer is an idiot but he may not be off on this.

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@forexbrokr ·
Cheers for sharing your thoughts.

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@mykos ·
no problem lol

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@shortsegments ·
Wow!
> “I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.”
Quite the generalization by that person.

I am more inclined to agree with this…
> As we spoke about above, cryptocurrencies are designed to be autonomous, secure and censorship-resistant for all.
They offer everyone the freedom to take control of and use their finances when needed.
Everyone.

Interesting post.

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vote details (1)
@forexbrokr ·
Cheers for stopping by, mate.

*PS. As one of the top LeoFinance authors, I'd love to see you start including some links to other leofinance.io blogs (even your own) within your posts.*

*This will be helpful to Google as they index content on our domain and eventually lead to an increase in the LEO price.* 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@forexbrokr/re-shortsegments-75d7wy)
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@shortsegments ·
I have added links to my last two posts, take a look

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@shortsegments/re-forexbrokr-4xa9fz)
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