The Illusion of Blockchain
Day: Monday August 13, 2018 ● #1

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In the middle of 2018 there is a growing awareness and distrust of fiat currencies. The majority seem to be seeking a higher authority, the state, to take care of them and protect them, see 1st Samuel 8. While some are promoting the “ultimate” solution with the blockchain, so we can “beat the system”. Pardon the bad news, but this is bogus.

Consider a lesson of history. In its prime, the Great Wall of China was indeed an invincible protection for the country, but invasions continued to occur by compromising people or simply going around it.

In a real sense we now have the modern Great Wall of Blockchain.

Note well how many of the promoters are looking at the money they make from it by inflating cryptocurrencies and then cashing in. It is the normal game of “get in early and make it big” that draws the crowd, but remember how pyramid schemes work; remember Berne Madoff.

The marketing is that we can move from the banker controlled fiat currencies to blockchain. It is technical dazzle, and a rebranding of concepts developed in the 1970s with the advent of Public Key Cryptography. It remains a collective controlled by an elusive distributed blockchain. It remains a fiat currency, just a different fiat.

As blockchain systems become more complex and feature rich, it will only be larger players in control. It is a new set of bankers, or perhaps the old ones with a new front. We will delight in our aura of freedom, but remain enslaved to the same fiats, and the same centralization with the guise of being distributed.

The invincible Great Wall of Blockchain can be taken down in numerous ways. With the centrally controlled domain name system, all of the distributed servers can simply disappear in short order. With centrally controlled IP address, all servers can simply be removed from the network all at once. In the matter of moments, it can all be gone.

A global collective, even a decentralized one, is still a collective. A local community, which is a local collective, when brought down, does not also take down other communities. Focus on using technology to work locally. Consider private routing and domain names. Consider local self-issued credit.

Bow to the king of the world, either the banking system or the blockchain, or love you neighbor.

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