In the" Communist Manifesto " Karl Marx, outlining his views on the nature of society and the economy, said about the depravity of capitalism and predicted the gradual transition of humanity to communism – socio-economic system based on social equality and social ownership of the means of production. According to the founders of Marxism, such a society will be dominated by the principle: "from everyone-according to their abilities, to everyone – according to their needs!»
Marx believed that on the way to such a social order, the power would become "decentralized", that is, it would belong to all that would eradicate the bureaucratic class.
And here is cryptocurrency? Blockchain technology implies a registry on which each transaction is recorded. Records are accessible to all and not controlled by a Central authority. The model itself, in a sense, is an ideal scenario for Communists.
People are pinning their hopes on cryptocurrencies due to the wide opportunities of the latter. Digital assets can replace not only existing Fiat currencies, but also all political and economic structures.
Bitcoin often becomes the object of criticism from the Communists, who feel antipathy in it for the reason that among the owners of this crypto currency there are many rich and super-rich people. In addition, many Communists believe that cryptocurrencies do not provide remuneration for work and are a kind of financial lottery or pyramid.
However, some socialists and Communists appreciate cryptocurrencies in a positive way. Perhaps the most famous example is Venezuelan President N. Maduro, the leader of the United socialist party, the ideology of which is based, among other things, on the ideas of Marxism. As you know, Maduro recently initiated the creation of the national crypto currency Petro and is now trying to develop it.
In fairness, it should be noted that many political experts in Venezuela and abroad consider Petro a dummy, and in the spring of this year, the US authorities for the first time officially charged Maduro and his closest circle with drug trafficking. Unofficially, many experts on the issue have long said that the only real income item of the Venezuelan economy is the transit of cocaine, the huge profits from which are deposited in the pockets of the President and local security forces-"socialists".
However, bitcoin and other cryptocurrencies enjoy the support of many Communists, as it is a decentralized structure and a power that belongs to everyone, not a handful of elected ones.
On the other hand, there is no unity on this issue in the left camp. Some socialists/Communists are considering crypto-currencies as the means of deliverance from the fate of "slave wages", while others believe cryptocurrency is a purely capitalist idea.
The arguments of the representatives of the first group are as follows: the basic principle of communism (at its intermediate stage of socialism) is a fair wage for all. Bitcoin perfectly meets this condition. The whole system of work is distributed and has a "peer-to-peer" (P2P) character, which makes it "Communist".
Other Communists also believe that because cryptocurrencies are decentralized and untraceable, they can contribute to the financial revolution and even "undermine the current banking scenario." According to them, the crypto-revolution can become an incentive to build a Communist society and a "perfect economy".
Their opponents claim that miners use pre-acquired capital, which makes the mining process capitalist. The ideal of communism is a society without classes and money. Cryptocurrencies can serve as an alternative to classic Fiat currencies, but remain money and generate capital (albeit in digital form).
Thus, the question of which economic system bitcoin belongs to remains open.
One thing is certain-cryptocurrencies can change the existing economic scenario.
Despite isolated judgments about the" bubble " that will soon burst, most have realized their potential and agree that digital assets are durable and able to replace traditional financial instruments. And this can happen in the coming years, not in the mythical bright future.
It seems you don't understand the philosophical basis of Bitcoin, which is Austrian economics. Bitcoin is based on the principle that everyone has the right to his own property, which cannot be collectivised or confiscated by the government. That's the whole concept of peer-to-peer money. Moreover, Bitcoin allows for wealth inequality, as Bitcoin will never be "redistributed". Rather, there will always be some people who are Bitcoin rich and Bitcoin poor. That's based on the Pareto principle. Bitcoin is, if anything, the opposite of communism.
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