In two weeks I was at the Democratic National Convention. It was primarily to encourage impartiality in our reporting of Bitcoin and politics, especially as they relate to each other. We were only invited to the Republican National Convention in the last moment, following David Bailey’s involvement with the Trump Campaign prior to his speech at the Bitcoin2024 conference held in Nashville.
I was disturbed to see that people affiliated with this company took such an unbalanced stand in favor of the Republican Party despite the fact that many more Republican politicians are Bitcoin supporters than Democrats. Even the Republican Party formally included Bitcoin in their public policy platforms at its convention. Democrats are not.
It isn’t true that all Democrats are against Bitcoin. The national Congress has been actively supportive of Bitcoin. Representative Ro Khanna, Ritchie Torres, Kirsten Gillianbrand and Kirsten Torres, all from New York. They are there, and they’re vocal. But they don’t seem to resonate with their party, or the voting base, like they did in the Republican Party.
Bitcoin wasn’t mentioned once during the first day I was there. The RNC didn’t make Bitcoin a major topic, but the RNC did mention it. This was included in party platform. At the DNC, this inclusion did not take place. On the first day, the focus was the election to come. Kamala against Trump.
The discussion was not focused on policies. This was a mostly rhetorical discussion, focusing primarily on Democratic voter issues, with a few rah rah phrases.
However, while no explicit policies were discussed, some of the most important issues for Democrats were. Women’s rights and well-paying jobs, union security and minorities inclusion were all discussed.
On the first convention day, several unions leaders addressed the crowd either personally or through recorded messages. They included: the Arizona Pipefitters and Pumbers Union, Communications Workers of America Union, International Brotherhood of Electrical Workers, and American Federation of State, County, and Munipical Employees. They all had a lot to say about the lost jobs under Covid and how the Biden administration was able to recover those jobs. A second big topic was the union pension fund. The benefits that come with union jobs, as well as the retirement security, are what make them so desirable.
What stands out for you? Perhaps the fact that Bitcoin can actually synergize with these Democratic goals and advance them?
Bitcoin will help economically struggling minorities, at least in the long term. Ignoring this market’s aberration, those who have held bitcoin for a long period of time will benefit from an increase in purchasing power. It is true that it takes money in order to earn money. People who start with less money will see less appreciation. However, those with the money in their savings have historically had more buying power over time. It won’t benefit those in poverty nearly as much as people with large sums of cash to invest. But it can help.
Bitcoins can help women maintain access to health care that has been increasingly banned by some parts of America. The financial institutions are increasingly censoring financial Even though they are legal, some transactions can be considered problematic culturally. This activity is not limited to those on the left of the political spectrum. Bitcoin offers an alternative to conventional currencies. financial institutions. Institutions.
Recent years have seen pension funds in Canada start to take a conservative approach to bitcoin. This, when compared to the historical performance of the currency over the course of time can prove to be very beneficial to the solvency problems that are faced by all Canadian pension funds.
Bitcoin could even prove to be an enormous boon for renewable energy. This is something that liberals are very concerned about, as it pertains to mitigating global climate changes and maintaining the natural environment. Bitcoin miners occupy a unique niche. AI operators are only now beginning to fill the same role as buyers of renewable energy that is stranded before being connected to grid. The revenue is generated immediately after the projects are completed. This eliminates the need to wait for the energy to reach the consumers.
This is not to mention the open-access nature of Bitcoin and its ability to advance freedom and inclusion in the world by giving people an alternative when it comes time for them fight and resist totalitarian governments. Bitcoin’s open access nature is in line with the Democratic Party’s proclaimed values and beliefs.
Why does the Party as a whole not pay attention to this? Why are they not included in the same policy platforms as Republicans?
The base. It’s the base. American Bitcoin Survey The Nakamoto Project has shown us that Bitcoin ownership is bipartisan, and not confined to the right. This is contrary to the perception of the general public. What is the reason for this persistent perception? Narratives. Stories. Messaging. This is not due to the fact that Democrats or Liberals aren’t interested in Bitcoin. Instead, the reason is the wider narratives. The larger narratives have a lot to do with the lack of interest in Bitcoin by the Democratic Party. It is a perception. Bitcoins are a thing of the right. The Associations When a comparison is made between Bitcoins and other important topics, it comes across as being rightwing.
Democratic politicians will not care much about Bitcoin policy and won’t cater to Bitcoiners unless these narratives and association change. Politicians cater to their constituents. They don’t usually take on new initiatives. own If they don’t see any benefit to the initiative in terms of positive perceptions and voter reactions, then it is not worth their while. Politics is what it’s all about.
Demonizing politicians for their indifference or negative reactions due to the perception they are rightwing, within a polarized climate of politics will not change this. The voting base is the key. It is only then that the Democratic Party will change their attitude and take action. Left-wingers need to know that Bitcoin aligns and supports their political agendas and goals in the same manner that the wider right-wing perception is propagated.
This will be an uphill fight given all the baggage from the past, but it is the only thing that can change the perception of Bitcoin as a rightwing phenomenon. Bitcoin’s fate is sealed unless there are concerted efforts to convince left-leaning individuals that Bitcoin does align with their own values.
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Source: bitcoinmagazine.com