WHY BITCOIN POLITICS SHOULD BE APPROACHED AT THE LOCAL LEVEL

Over the past year, the world has watched in fascination as bitcoin skyrocketed from a little-known digital currency used primarily by tech enthusiasts and criminals to a global phenomenon, with billionaires, politicians, and average citizens scrambling to get in on the action. But what exactly is bitcoin, and why is it suddenly such a big deal, both practically and politically? For those still unfamiliar with the cryptocurrency, bitcoin is a digital currency that is not controlled by any government or bank. Instead, it is an electronic currency that is primarily used to transfer money between two people without the need for traditional third-party institutions such as banks or financial regulators.
Since the creation of Bitcoin in 2009, cryptocurrencies have become a fixture of global finance. Over the past year, Bitcoin has often been referred to as the “new gold,” with market values sometimes exceeding $20,000 per coin. While Bitcoin is the best-known cryptocurrency, there are thousands of others, each with their own unique set of features and use cases. Growing interest in cryptocurrencies has prompted a flurry of academic, policy, and journalistic analyses, but little work has been done to better understand the unique political and social dynamics of cryptocurrency communities.
While national and international news can sometimes feel like an echo chamber, the ability to connect with other people who experience the same thing is often the first step toward fixing it. When you’re frustrated by a broken political system, the first place to look for inspiration is your community. That’s because the local level is where people are actually shaping the world around them. And so far, the most effective way to change politics at the national level has been to change it at the local level.