My college is an economist. While we were talking, the topic of Bitcoin and blockchain came up. I immediately realized that my colleague had no idea what Bitcoin is and how blockchain technology functions, even though she is an economist.
I was trying to explain to her some of the basic concepts of Bitcoin and blockchain, telling her that Bitcoin is a digital currency not controlled by any government or central institution. It relies on the technology called blockchain, and Bitcoin can be used for transactions, investments, or as an equivalent store of value.
I also explained to her that blockchain is a technology used to securely store and verify transactions, that a blockchain is a distributed database or ledger shared among a network of computers (nodes), that the blockchain is decentralized, meaning no single entity controls it, that all users collectively retain control and so on.
After that, I would have been expecting that she, as an economist, would show some kind of interest and would ask for more details about this amazing technology or where she could find more detailed info about it.
But she left me speechless when she told me that she didn’t believe in this technology and that bitcoin is a big scam, that bitcoin will never be a currency, and that state authorities will soon control it, just like they control fiat money and a lot of bullshits like this.
And I was like: What the fuck!
I would have never imagined this reaction from an economist. This shows how much people, even economists themselves, have been poisoned by the centralized banking system and how they cannot think beyond the existing controlled banking system schemes.
I mean, can you imagine this?
It seems very difficult for people, even those who deal with finance (I believe that there are many other economists like my college), to accept a decentralized system. They find it easier to be under the control of a higher authority because that way they unload responsibility from themselves, but the cost of this is very high: Loss of Freedom!”
The tension between centralization and decentralization is indeed a very fascinating topic for me. While centralized systems offer efficiency and clear authority, decentralized systems often prioritize individual autonomy and resilience. Striking the right balance is crucial for societal progress.
But maybe individuals like me and you who believe in the decentralized system are just a few compared to the others who don’t believe in it. 🤔