Source: Coindesk

Author: George Kaloudis

Original Title: What Bitcoin and the American Dream Have in Common

Translation: Mary Liu, BitpushNews

Describing America with a quote from poet Walt Whitman: "I am large, I contain multitudes."

How cliché: land of the free, home of the brave, city upon a hill.

As times change, so too has this country (and the people who make up this country), and these words now sound trite with a hint of irony. Just like the motto on the U.S. emblem, from "Out of Many, One" to the candid and perplexing "In God We Trust."

At least one phrase that hasn't changed in name is the famous saying: the American Dream. It tells people that anyone can achieve success through sacrifice, talent, hard work, and perseverance, rather than relying solely on luck.

However, the American Dream means different things to different people. As a first-generation Greek-American, to me, the American Dream means using the resources I have at my disposal, the sacrifices my grandparents made, taking their children away from their homeland to become "one generation removed."

Whose America is the so-called American Dream, and whose dream is it?

Is it the American Dream for those who immigrated from England ten generations ago?

Is it the explanation of the American Dream for those who immigrated from Ireland five generations ago, or for those whose ancestors arrived in America on slave ships?

Perhaps not.

But this ambiguity is not a problem; many important ideas have this kind of ambiguity: democracy is one example. Just because there is no widespread, universal consensus to define an idea does not mean it has no meaning.

These ideas embody some fundamental principles, and although they may sound illogical, Bitcoin and the American Dream are combined in this way.

The "Cliché" of Bitcoin

Some people say: Yes, I know Bitcoin!

Common responses include: Bitcoin solves XXX problem, Bitcoin is synonymous with XXX's hope, you wouldn't understand, watching the rise in numbers is interesting even if it keeps you poor.

Comparing Bitcoin to the American Dream may seem cliché, but from my perspective, their similarities are obvious.

On the surface, Bitcoin and the American Dream complement each other. Achieve success through "hard work"? This is exactly how Bitcoin mining operates: the more work you put in, the more you get in return.

We can pose more questions.

Is Bitcoin peer-to-peer electronic cash? Is Bitcoin digital gold? Is Bitcoin a store of value? Can Bitcoin facilitate the transition to clean energy? Will Bitcoin use up all our water? Will the Bitcoin protocol lead to more ransomware? Can Bitcoin empower individuals in oppressive regimes? Will Bitcoin weaken the Federal Reserve? Will Bitcoin make you bankrupt? Will Bitcoin make you rich? Is Bitcoin an anti-inflation currency? Is Bitcoin a Ponzi scheme?

The answers to these questions depend on who you ask. Therefore, Bitcoin and the American Dream are more similar beneath the surface.

Bitcoin means something different to me, a U.S. citizen with a full bank account; I can use any financial product I can think of and have relatively stable local currency.

But for Afghan woman Roya Mahboob, the meaning of Bitcoin is different; she uses Bitcoin (and other technologies) to help Afghan girls overcome gender inequality and obtain education.

The meaning of Bitcoin is also different for Argentinians and Venezuelans facing hyperinflation.

All these meanings of Bitcoin are real. Bitcoin "contains multitudes," and it is accessible to many users. Allowing these users to transact without permission is the essence of Bitcoin as a peer-to-peer electronic cash system.

Bitcoin enthusiasts agree that Bitcoin can have many meanings, just as Americans agree that the American Dream (and America) can have many meanings.

One thing is certain: just as Americans are connected to the American Dream, the spirit of Bitcoin, namely financial freedom, connects Bitcoin enthusiasts.

The Cynical Side…

I deliberately avoided the above questions because these questions are currently the most pressing issues for both America and Bitcoin.

Is America controlled by "capital" on Wall Street? Is Bitcoin?

George Carlin once said in a stand-up comedy show: "It's called the American Dream because you have to be asleep to believe it."

In his view, this country has long been exploited by "capital." To some extent, I am also somewhat cynical. Consumerism and the dominance of the dollar make me, as an American, feel embarrassed.

The famous work of Hunter S. Thompson, the father of Gonzo journalism (a departure from traditional news, characterized by bold, subjective, and mocking writing), "Fear and Loathing in Las Vegas: A Savage Journey to the Heart of the American Dream," also expresses a similar viewpoint.

You can glimpse his tone from the title: Las Vegas as the center of gambling and entertainment is a satirical portrayal of American extravagance and consumerism, both of which (and the prominent depiction of drugs in the book) could tarnish America's reputation.

As for Bitcoin, currently, the world's largest and most mainstream financial companies such as BlackRock are selling Bitcoin through U.S. spot ETFs in an institutionally "sanitized" form.

The concept and asset of Bitcoin were born from the ashes of the great financial crisis, as a rebellion against the Icarian behavior of the financiers addicted to leverage and synthetic derivatives that caused the crisis. Now, these institutions are also promoting the purchase of Bitcoin. Has Bitcoin been controlled by capital interests?

Perhaps, at least in part.

Nevertheless, I believe that one of the best parts of being an American is being able to openly criticize America, and this is also one of the best parts of being a Bitcoin user; progress can only be made by accepting criticism.

Finally, happy 248th birthday, America!

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