08/10/2018

Enter Bitcoin: Your Future Revealed In George Gilder’s ‘Life After Google’

Ralph Benko, American Spectator

Introducing the Cryptocosm, which promises to reverse the doldrums of the Google Age.

Google and social media have been in the headlines. So has Bitcoin. Tech guru and conservative economist George Gilder now brings the two together in a fascinating and pertinent way.

According to a very recent WellsFargo/Gallup poll, about 2% of American investors — defined as people with more than $10,000 in stocks, bonds or mutual funds — own some bitcoin. Less than 1% are planning to buy any soon.

Yet about one in four investors are intrigued. You may be one of them.

I am the senior counselor to the Chamber of Digital Commerce, the world’s largest trade association which represents the blockchain industry. George Gilder serves on the advisory board of the Chamber of Digital Commerce and we’ve been professional colleagues, on and off, for decades.

As such, I was privileged to read his new book, Life After Google: The Fall of Big Data and The Rise of the Blockchain Economy, thrice: twice in manuscript and again in hardcover. I rarely read a book once, much less three times, and reread twice it out of pleasure not duty.

The blockchain — the virtual “stuff” of which bitcoin was the pioneering (and remains the preeminent) version — is one of the hottest technologies in the world right now. It’s also one of the most controversial.

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With interest rates flattened [by the Federal Reserve], government zeroes out the future. Abandoned were 80 percent of private defined-benefit pension plans. Public plans faced a similar evisceration in the future. With no acknowledgement, the U.S. government had casually dispossessed the American middle class of its retirement assets and pushed millions of Americans into acute dependency on government programs. ... Government dependency negated the American dream.

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