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Bitcoin Is Full of Surprises

Author

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  • Murray A. Rudd

    (Satoshi Action Education, Portland, OR 97214, USA)

Abstract

Bitcoin has been embraced by many individuals with strong right-leaning views on freedom, property rights, and self-sovereignty. Among left-leaning progressives, Bitcoin is often quickly dismissed as irrelevant or a major source of carbon emissions. Bitcoin seems, however, to be full of surprises. A rapidly advancing body of anecdotal evidence suggests that its adoption may affect causes important to progressives, mitigating greenhouse gas emissions, accelerating electrification of economies, alleviating poverty, and supporting human rights for people living under political repression, even though scientific confirmation is lagging. In this paper, I highlight how a Pragmatist perspective can be applied to Bitcoin, a technological and financial innovation that may well reshape how humans perceive and use money, preserve wealth, and structure governance. I first cover Bitcoin’s technological and financial fundamentals and some core concepts of Pragmatism, before outlining how Bitcoin might surprise progressives. Pragmatism offers a philosophical and political grounding for left-leaning “progressive Bitcoiners” who prioritize environmental and social well-being and view inclusive deliberative democracy as the preferred form of governance.

Suggested Citation

  • Murray A. Rudd, 2023. "Bitcoin Is Full of Surprises," Challenges, MDPI, vol. 14(2), pages 1-14, May.
    • Handle: RePEc:gam:jchals:v:14:y:2023:i:2:p:27-:d:1149932
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    References listed on IDEAS

    as
    1. Divakaruni, Anantha & Zimmerman, Peter, 2023. "The Lightning Network: Turning Bitcoin into money," Finance Research Letters, Elsevier, vol. 52(C).
    2. Haas, Peter M., 1992. "Introduction: epistemic communities and international policy coordination," International Organization, Cambridge University Press, vol. 46(1), pages 1-35, January.
    3. Rudd, Murray A., 2004. "An institutional framework for designing and monitoring ecosystem-based fisheries management policy experiments," Ecological Economics, Elsevier, vol. 48(1), pages 109-124, January.
    4. Yu Gan & Hassan M. El-Houjeiri & Alhassan Badahdah & Zifeng Lu & Hao Cai & Steven Przesmitzki & Michael Wang, 2020. "Carbon footprint of global natural gas supplies to China," Nature Communications, Nature, vol. 11(1), pages 1-9, December.
    5. Bebbington, Anthony, 1999. "Capitals and Capabilities: A Framework for Analyzing Peasant Viability, Rural Livelihoods and Poverty," World Development, Elsevier, vol. 27(12), pages 2021-2044, December.
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    Cited by:

    1. Rupert L. Matthews, 2024. "Untangling the Processes of Bitcoin: An Organizational Learning Perspective," Challenges, MDPI, vol. 15(1), pages 1-18, February.
    2. Murray A. Rudd & Lee Bratcher & Simon Collins & David Branscum & Matthew Carson & Shaun Connell & Elliot David & Magdalena Gronowska & Sebastien Hess & Austin Mitchell & Matt Prusak & Kyle Schneps & M, 2023. "Bitcoin and Its Energy, Environmental, and Social Impacts: An Assessment of Key Research Needs in the Mining Sector," Challenges, MDPI, vol. 14(4), pages 1-29, November.
    3. Casey Watters, 2023. "Digital Gold or Digital Security? Unravelling the Legal Fabric of Decentralised Digital Assets," Commodities, MDPI, vol. 2(4), pages 1-12, October.

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