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Politics of Bitcoin: Software as Right-Wing Extremism Paperback – 26 September 2016
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- Publisher : University of Minnesota Press (26 September 2016)
- Language : English
- Paperback : 100 pages
- ISBN-10 : 1517901804
- ISBN-13 : 978-1517901806
- Dimensions : 12.7 x 0.64 x 17.78 cm
- Best Sellers Rank: 338,095 in Books (See Top 100 in Books)
- Customer Reviews:
"Golumbia, in his small but important way, is helping wake us to the falsity of our perceived neutrality."--One Flew East
"This book is a very readable and valuable monograph which combines sound historical research with insightful analysis. All concerned citizens should read this book, which is an essential resource for understanding the true stakes of current technological hyperbole."--Newsclick
"Golumbia a le mérite de s'attaquer à des idées qui ne sont pas suffisamment remises en question dans les communautés de la cryptomonnaie et des technologies de chaînes concertées. J'en recommande fortement la lecture à quiconque s'interroge sur les impacts de ces technologies sur nos sociétés."--D'un bloc à l'autre
About the Author
David Golumbia teaches in the English department and the Media, Art, and Text PhD program at Virginia Commonwealth University.
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Das Buch ist sehr lehrreich, auch für Leserinnen und Leser, die ökonomietheoretisch nicht besonders bewandert sind und Bitcoin nur vom Hörensagen kennen (so wie der Autor dieser Rezension).
However, the entire book is filled with logical fallacies where the author arbitrarily declares any criticism of central banking or the current monetary system, or any diverging opinion from his deeply misinformed take on "conventional economics" to be, by definition "right wing extremism", "conspiracy theory" or both. He then tangentially connects these numerous fallacious inferences to Bitcoin. (In a 62-page book the phrase “right-wing” occurs 78 times, “extremism” and “extremist” occur 32 and 21 times respectively).
The book contains several, significant factual errors: example Golumbia attempts to demonstrate how use of Bitcoin facilitates criminality by citing it's use in making donations to Wikileaks during the 2010 blockade of their payment providers. Golumbia states rather categorically that "it is a violation of U.S law" to donate to Wikileaks and that is totally and utterly false.
He attempts to debunk the generally observed phenomenon of inflation and it's erosion of purchasing power as "conspiracy theory", by claiming currency units can retain their purchasing power via investment returns - completely confusing nominal returns on assets with purchasing power of currency units.
While the author decries prominent Bitcoin authors such as Andreas Antonopoulos "Mastering Bitcoin" book "includes several substantial economic discussions in which extremist views are proffered, without attribution, as if they are simply commonsense analyses of relatively uncontroversial subjects" - his own book, this one, does exactly this nearly it's entire length.
The book concludes rather abruptly, reiterating that right-wing extremism is coded "very literally into the software" of Bitcoin itself, yet nowhere in the book has Golumbia actually demonstrated any of his claims.
I find this book troubling on two fronts: 1) it was never fact checked, nor I suspect reviewed by anybody with a semblance of economic literacy; and 2) the author is an associate professor at a university. Yikes.