The Porteous Mob by James Drummond (Credit: Scottish National Gallery/Wikimedia)
Bitcoin Doesn’t Take Sides: Why Apolitical Solutions Are the Internet’s Future
Preston Byrne, a columnist for CoinDesk’s Opinion section, is a partner in Anderson Kill’s Technology, Media and Distributed Systems Group. He advises software, internet and fintech companies. His biweekly column, “Not Legal Advice,” is a roundup of pertinent legal topics in the crypto space. It is most definitely not legal advice.
Irrespective of what “side” one takes in the many-front culture war raging on keyboards at the moment, it is hard to avoid the conclusion that a “reign of terror” vibe is sweeping the Western world. This is a continuation of a theme familiar to anyone who has followed the internet culture wars of the last few years. Anyone who has followed GamerGate, or the mass de-platforming of Alex Jones and Live Action, or the YouTube AdPocalypse, or the partisan advertiser boycotts of Breitbart and Fox News, or the rollout of social credit scoring in China, and many, many more individual cases, will be familiar with the battlefield and the terminology.
This fight is framed as a ferocious struggle for “control” of the internet and society. Only now, rather than manning barricades and mobilizing minutemen, we sit at our computers screaming ferociously into the void where everyone loses precious time and energy. Everyone, that is, except online political grifters and social media companies, the latter of which use algorithmically driven fury to compete for eyeballs and a dwindling pool of advertising dollars.
Those who have not been paying attention may have difficulty figuring out exactly what the landscape looks like or how they need to adjust. “Censorship” is a spectrum of behaviors meant to suppress ideas by a range of players. Historically, this meant the repression of ideas at the hands of either state or quasi-state, often ecclesiastical, actors. Socrates was killed for encouraging young people to ask uncomfortable questions. Galileo spent the last days of his life under house arrest for daring to question the accepted wisdom that the Earth did not revolve around the sun. William Prynne was branded by the Star Chamber for daring to utter seditious libels in England. And so it went.
The legal system of the United States was designed, in part, to render forever impossible such prosecutions. It is why our First Amendment exists and has been interpreted by our courts to protect a wide range of speech, including advocacy of violent insurrection, from state interference.
The First Amendment worked well, for a time. With the advent of the internet, publishers were granted broad immunities from liability for user-generated content under Section 230 of the Communications Decency Act, presumably with the goal of ensuring that information flowed freely online.
In Western democracies, groups wielding political power are usually found in three different forms. The first is the state, for obvious and longstanding reasons. The second are corporations, for equally obvious and longstanding reasons. The third is the mob.
The mob used to be a fairly short-term phenomenon. Social media changes this. Its power to create and share is equaled only by its immense capacity to destroy. Balaji Srinivasan refers to this phenomenon as a “Rage Epidemic” where “mind viruses” burn through the digital hordes, directing their victims towards their hapless targets in an exponential fashion until the target either capitulates, is banned or suspended from a platform, or dies/is destroyed. Whether it be buildings in American cities, statues of historical figures including Gandhi and Lincoln being defaced in central London, or the summary termination of star soccer player Aleksandar Katai by the L.A. Galaxy club for the impertinent opinions of his wife, the mob is selecting its targets, broadcasting those targets and coordinating attacks on those targets through the use of social media.
Companies that build politics-free solutions will be the future of the internet. Not because such products have the right opinions about their users, but because they have no opinions at all.
Combined with the fecklessness of corporations and (in most cases) lack of strong civil rights protections afforded by the American state, mobs on social media have the capacity to hijack our societies and coordinate themselves to direct the energies of these larger entities onto individual citizens one-by-one based on the adoption of mainstream political views that a given mob opposes. Candace Owens was booted from GoFundMe last week; an advertiser boycott is being organized against Tucker Carlson as I write this article (June 9). I refer to the interaction between these three sources of censorship as the “tripartite model of internet censorship,” detailed in the chart above.
Today’s digital mobs tend to have one set of beliefs. If history is a guide, there is every reason to believe that tomorrow’s digital mobs might have other, more evil but nonetheless widely accepted, beliefs. Mobs are the antithesis of due process and careful deliberation. Mobs are not good, no matter who is in them.
With this as our background, I am often asked what role I believe Bitcoin will fulfill in our future. Some people say it is digital cash. Others say digital land. Still others say digital gold.
I say Bitcoin is digital no-fucks-given.
The infusion of politics into everyday life – the requirement for every company to take a partisan stance on every issue – is set to become more commonplace, and not less. This is a business distraction of immense proportions. It will likely soon become impossible to post anything controversial online under one’s own name. It may become difficult for controversial political figures to transact financially under their own names. As platform and content bans increase, seemingly daily, by November it may become difficult to find business and communications systems that do not have some kind of ongoing ideological purity monitoring that is a prerequisite to continued use.
In a world where everyone is taking sides, it’s important to remember that each of us has only one life. We don’t owe anyone our allegiance, attention or time. In the United States, nobody is legally entitled to draw adverse inferences from silence; the same is true politically. There’s nothing wrong with avoiding the dystopian digital hellscape of the culture wars. It is perfectly fine, even healthy, to avoid the fighting and pursue only what matters to you.
Making the internet safe for individuals again, in my view, is the most compelling use case for Bitcoin and every other cryptographic method or technology. Companies that build politics-free solutions will be the future of the internet. Not because such products have the right opinions about their users, but because they have no opinions at all.
Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Jed McCaleb is an American programmer and entrepreneur. Born in 1975, McCaleb is well-known for creating one of the first bitcoin exchanges, the now defunct bitcoin exchange Mt. Gox., which he eventually sold. He notably later co-founded blockchain companies Ripple and Stellar. McCaleb launched Mt. Gox in 2010 with the intent of it becoming the…
Hong Kong is likely to approve the first set of applications for spot-bitcoin exchange-traded funds this week, Reuters reported.A total of four entities have submitted applications to launch the spot bitcoin ETFs in Hong Kong, the report said.Hong Kong regulators are likely to approve the first set of applications for spot bitcoin exchange-traded funds (ETF)
news The real estate firm in charge of the world’s tallest building wants to develop its own crypto token. Emaar Group, one of the the United Arab Emirates’ largest real estate developers and the firm behind the nearly 3,000 foot tall Burj Khalifa, announced Monday that it was planning to develop the “Emaar community token” for…
May 12, 2020 at 14:36 UTCUpdated May 12, 2020 at 14:44 UTCEnthusiasm for libra, the cryptocurrency backed by Facebook, swirled at Consensus: Distributed Tuesday morning, but Michael Shaulov, CEO and co-founder of crypto transaction platform FireBlocks, was happy to damp it down. Host Ran Goldi, CEO of liquidity provider First – which has the motto…
Oct 17, 2020 at 18:21 UTCOKB and other exchange tokens percentage change in wake of OKEx withdrawal suspensionOKB, the native exchange token for OKEx, has lost nearly an additional 20% of its market value Saturday, bringing its total drop to roughly 30% since the second-largest cryptocurrency derivatives exchange suspended withdrawals early Friday morning due to…
Oct 13, 2020 at 16:00 UTCBitcoin News Roundup for Oct. 13, 2020With BTC on its longest winning streak in more than a year and governments around the world working to craft a global CBDC framework, CoinDesk’s Markets Daily is back for your latest crypto news roundup!For early access before our regular noon Eastern time releases…
Aug 5, 2020 at 18:55 UTCUpdated Aug 5, 2020 at 19:18 UTC“Faith and fiat currency across the market is fading," said CEO Michael Saylor. (Syda Productions/Shutterstock)Publicly traded business intelligence company MicroStrategy said it will invest $250 million of its excess cash in bitcoin, gold and other “alternative assets” over the next 12 months as a…
news A protocol built to put financial middlemen out of business has secured a $5 million seed round led by Pantera Capital. The Vega Protocol aims to make it feasible for people anywhere in the world to spin up markets for derivatives (futures, swaps, options, etc.) that can interact with each other and abide by…
This is the third version of this headline I've published in this newsletter. And the answer may finally be yes: A spot bitcoin exchange-traded fund (ETF) may begin trading in the U.S. in the coming weeks.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign