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What Bitcoin Did with Peter McCormack

Sep 23, 2022

Logan Bolinger is a lawyer and writer of the Think Bitcoin newsletter. In this interview, we discuss how he became orange pilled after concluding trust in politics is an impossible dream. We talk about how Bitcoin can help fix the broken political system and the problems caused by fiat money.

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There are many paths to Bitcoin. Cypherpunks, anarcho-capitalists and libertarians have all been attracted to Bitcoin given its rooted in protecting individual freedom, and its growing value as a powerful check on government control of money. And yet, there is now a meaningful movement of progressives within Bitcoin who have also been drawn to Bitcoin.

Beyond the mainstream media narratives that would have you believe Bitcoin is for those on the right wing, Bitcoin is for anyone, and people are finding in Bitcoin solutions to a range of perceived systemic problems. For progressives, it offers a range of mitigations and solutions to deep-rooted issues. Most notably in how to restore trust to the broken political system and help those affected by inequality.

Bitcoin is a revolution in that it empowers those who have increasingly been treated with contempt by the state, but had until recently felt powerless. It provides a chance to rebalance the social contract and strengthen democracy. And for those who want to retain the framework of the state, there is power to be drawn from the libertarian cause: rulers act differently when the ruled have a chance to opt-out and rely on a trustless system.

Opening up to Bitcoin also offers a chance to look at wider society anew. Going down the rabbit hole means awakening to the fundamentals of money, economics and banking. It brings a realisation that a lot of what activists have been focused on has been the symptoms of issues rather than the causes.

Maybe there is an alignment between those on the right and left around Bitcoin as they realise they are both being literally short-changed by the ruling elites. And, whilst being uncommon bedfellows, there is strength in numbers. And maybe the greatest strength of Bitcoin is in its ability to bring those on different sides of the aisle together to resolve some of our biggest issues.