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Would Karl Marx be a fan of Bitcoin (BTC)?

Would Karl Marx be a fan of Bitcoin (BTC)?

Renowned Marxist scholar Professor Richard D. Wolff spoke to The Crypto Mile at Yahoo Finance. The topic covered, among other things, the advantages of Bitcoin crypto compared to Marxism. He also mentioned the potential of the blockchain to democratize the workplace. This time, he declared that Karl Marx would see blockchain technology as a revolutionary tool to disrupt capitalism. He highlighted the work time that would save one with blockchain and crypto technology. The university community deserves more particular attention to the latter, the professor emphasized.

Bitcoin Crypto: A Revolutionary Tool to Disrupt Capitalism

Professor Wolff said Bitcoin could be part of a game-changing programme. 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 to own crypto assets as being “correlated with record lottery ticket sales. »

According to the professor, the economic atmosphere in the United States gives the impression to the American people that the American economy is out of control. The US economy is teetering from disaster to disaster. Something that would make people stick to something as much as possible. He also said that the interest in Bitcoin crypto is largely driven by the idea of ​​quickly acquiring life-changing wealth.

In addition, he described another aspect of blockchain technology. The latter may be the ones that make it possible to achieve a truly radical reorganization of the way we spend our time. I would spend less time working and more time on recreation.

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

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

Marx then envisioned a future where new technologies could mimic all forms of human labor, whether mental or physical. It is an ideal future without government and with fully automated production processes that will satisfy everyone’s needs. This is in line with the high ideals of the crypto community with the privacy and individuality of Bitcoin maximizers.

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