Op Ed: Bitcoin Is Turning Left vs. Right Into Big Data vs. Privacy
Kyle Torpey's original article for bitcoinmagazine.com reduced by 46%
Those on the left prefer a more controlled economy, while those on the right have a preference for free markets. Libertarians tend to promote more liberal social policies, while authoritarians want to control what people do in the privacy of their own homes. "Crypto is decentralizing.
AI is centralizing. If you want to frame it more ideologically, you could say that crypto is libertarian and AI is communist." Thiel expanded on this idea, noting that AI is about big data, governments controlling all of that data, those governments then knowing more about their citizens than they know about themselves and governments attempting to hold society together through centralized control rather than spontaneous order. Thiel added, "I would say AI is a much more transparent world - the centralized world is more transparent.
And then the question you go and ask is: What's the opposite of transparency? Is it criminality or is it privacy?". While things like Bitcoin may make it more difficult to collect taxes in some instances, governments will be able to evolve in order to protect their revenue streams. At the end of the day, technology is on the side of those who are in favor of strong privacy, which makes it more difficult to control.
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CN [too long; didn’t read]
Summarised crypto news.