Crypto: Karl Marx would have been a fan of Bitcoin (BTC)?

Renowned Marxist scholar, Professor Richard D. Wolff spoke to Yahoo Finance’s The Crypto Mile. The subject concerned, among other things, the advantages of Bitcoin crypto compared to Marxism. He also mentioned the potential of the blockchain to democratize the workplace. On this occasion, he declared that Karl Marx would see blockchain technology as a revolutionary tool to upset capitalism. He emphasized the working time one would save with blockchain technology and crypto. The latter deserves more particular attention from the university community, underlined the professor.

Bitcoin Crypto: A Revolutionary Tool to Disrupt Capitalism

Professor Wolff said Bitcoin could be part of a game-changing program. But this requires a struggle because there are powers that want Bitcoin to be another servant of the system. So he described the latest rush in owning cryptoassets as being “correlated with record lottery ticket sales. »

According to the professor, the economic atmosphere in the United States gives the American people the impression that theeconomy American is out of control. The US economy is teetering from disaster to disaster. Which might make people cling to something as much as they can. He also said that the interest in Bitcoin crypto is mostly driven by the idea of ​​obtaining life-changing wealth quickly.

Furthermore, he described another aspect of blockchain technology. The latter could indeed constitute a breakthrough that would make it possible to achieve a real radical reorganization of the way we spend our time. We would devote less time to work and more time to leisure.

bitcoin-crypto
Richard D Wolff: Professor of Economics, University of Massachusetts, Amherst – source: news.yahoo

Cryptocurrencies deserve more attention

The professor noted that the crypto industry does not get as much attention as it deserves from academics. Indeed, he claims that the vast majority of economists in the United States pay little attention to the crypto sector, led by Bitcoin. So they tend to follow government officials and especially big banks, devaluing and marginalizing crypto. However, cryptocurrency has fundamental interests for the American population but it does not receive the attention it deserves.

Also, the ideology of crypto is based on libertarian free market ideals. It is rooted in distrust of the government and the central bank. The invention of Bitcoin crypto by Satoshi Nakamoto was significant in this regard. And blockchain promises to abolish centralized bureaucracies that make corruption inefficient, which is the specialty of Marxist regimes.

Marx would then envision a future where new technologies could imitate every type of human labor, whether mental or physical. It is an idealistic future without government and with fully automated production processes that will satisfy everyone’s needs. This aligns with the high ideals of the crypto communities to the privacy and individuality of Bitcoin maximalists.

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Crypto: Karl Marx would have been a fan of Bitcoin (BTC)?


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