Robots and Regulation


POSTED BY JAMES CLAYTON ON AUGUST 13, 2014

For anyone worried about the sky falling for Bitcoin, don’t worry, it isn’t in the slightest. Bitcoin was around $70 a coin a year ago, and it has already went through most of the initial fear and hype phases. We are now in the denial phase by those opposed to being made irrelevant. Really though, who can blame them? Auto workers really didn’t like robots replacing their jobs, and the financial industry and Central Banking system, as it stands now, will be vastly different in the future without all the middlemen taking their cuts.

The simple fact they might be trying to hide from themselves, or distract people with, is that they will be losing their positions and their powers, for good. They will be losing control itself, that at this point, seems more like a bad habit than anything marginally useful to human civilization. Wars will be defunded, unjust laws will not longer be paid for, many horrors will simply go away when people have to choose to pay for them directly. The swamp itself is going to be drained, and there really isn’t anything they can do about it in the long run, but to try and convince people that what we have now is actually good for us.

The sky is falling for some, but it isn’t for Bitcoin or for Cryptos, it is for vast systems of perpetual debt, spending, and excess at others expense. It is falling for those that profit off the advantages they employ using rules only they are allowed to make. The control they have, the force they use, and the rules they make. All of it less efficient than the technology that is certain to replace them. They simply cannot compete with it, anymore than a human auto worker can compete with a robot that works 24 hours a day, without complaining, and that does the job to perfection. That is the reality that those making the “Bit-licenses” may not realize, yet, but robots working perfectly don’t need any regulation, nor does Bitcoin.