BTC End Times?
In January, Moldbug spake prophetically:
Bitcoin dies in two very simple steps.
1: A DOJ indictment is unsealed which names everyone on Planet Three who operates, or has ever operated, or perhaps who has ever even breathed on, a BTC/USD exchange, as a criminal defendant.
The charge: money laundering.
On May 15, Under the headline US Government Begins BitCoin Crackdown, Zero Hedge reported that:
Many people use Dwolla, a PayPal-like payment network, to send dollars to their Mt. Gox accounts. They then use those dollars to buy Bitcoins. On Tuesday, Dwolla announced that it had frozen Mt. Gox’s account at the request of federal investigators. It’s the first federal action against the currency.
And, by the way:
Sen. Chuck Schumer (D-N.Y.) described Bitcoin as an “online form of money laundering”
Outside in doesn’t share Moldbug’s BTC prediction, but the projected narratives don’t diverge much for some time. By attempting to stamp out Bitcoin, USG rapidly converts it into an overtly subversive revolutionary currency*, used only by those in explicit (though covert) antagonism to the regnant global economic regime. The test then begins.
*Typically, reactionaries don’t like revolutions, but that’s because revolutions are typically democratizing. When the neoreaction gets to watch a spontaneous right-wing revolution unfolding, against the democratized or ‘political’ economy, I suspect that they’ll quickly recover their natural sympathy for it.