John McAfee recently made waves when he posted a video on his Twitter aimed directly at JP Morgan – it was a candid and powerful message that was design to serve as a wake up call to all of the fat cats and aristocrats in the banking sector. While McAfee himself has been known among the community as a rather… eccentric individual, none can challenge his success and pedigree. McAfee was a pioneer in the early computer space in his creation of the McAfee antivirus security suite, amassing a large fortune before transitioning to more philanthropic and political aims. He knows how to grab the attention of an audience, however, with his equally eccentric tweets and stunts.
He made a few extremely lucid points in the short three minute video that deserve to have some dissection – without further ado, let’s dig in.
This is a message to all the bankers
He starts off by addressing his video specifically towards JP Morgan and Jamie Dimon (who has historically called Bitcoin a fraud many many times), and then goes to include any banker/major bank in a position of power. McAfee makes it clear this this message is not only to Jamie himself, but to everyone in the body aristocratic – and the message must be heard.
McAfee then goes on to explain that you (the bankers) don’t need to die on this hill. There is a certain transformative process with respect to blockchain and how it is going to change the future of society for the better – John sets it out at the start that this does not necessarily need to be a bad thing for the bankers and the higher ups who have until this point enjoyed much of their power through fraudulent means.
The Blockchain Revolution is coming
It’s an aspect that tends to be rather unbelievable when approached at from the outside looking in – the fact that blockchain can completely turn our financial system inside out and give power back to the people is something akin to a dream, but McAfee says that this is inevitable, and will happen with absolute certainty. It’s important to understand exactly what he means with that as well.
The Blockchain Revolution won’t necessarily be Bitcoin, Ethereum, or whatever altcoin you think to be the next big thing – it’s going to be a concerted effort by all of these technologies, all of these teams, and all of these communities united against the common threat of banks and the legacy banking system that will overturn old rules and redefine the meaning of “money”.
Power to the People
One of the best things about blockchain is its ability to strip power away from centralized sources and give it right back to the people supporting the system. As the old phrase goes, “Give me control of a nation’s money and I care not who makes its laws.” This has been one of the biggest downsides of the current system that almost everyone can agree is toxic to society and is only hampering growth.
The way the system is currently designed has led to things such as the Bretton-Woods financial collapse, banks that are “too big to fail” that concentrate profits and subsidize losses, while taking huge financial risk that is not in the interest of the very people funding their activities. Blockchain has the potential to reverse all of this pyramid style of ecosystem and make things a lot more even. This great inversion is what McAfee believes is coming, and he has the opinion that the old guys better start dancing to the music or be left without a chair at the end.
Come and join the discussion
Among many of the cypherpunks and crypto anarcho-capitalists there is a certain hostility made towards the ruling class of the present day. Most discussions by true cypherpunks tend to gravitate towards the complete destruction of the world’s current financial infrastructure, and replacing it with blockchain and other such technologies. McAfee knows that this is coming, and tells the bankers that they need to prepare themselves for the inevitable – but it doesn’t have to be a bad ending for them. He asks the bankers of the legacy system to come and join the discussion, to set aside the hate for change and to come and be a part of this cool new thing rather than fighting it.
It’s a bold move, but it shows a lot of maturity on the part of McAfee – it also works best for everyone. As John puts it, Jamie Dimon will only be “sitting on a cardboard box asking for change on the street” if he continues his current path – but the alternative option that McAfee presents is also available to Jamie.
A storm is coming
With the meteoric rise of Bitcoin prices in the past several years as well as the media attention and seemingly impossible odds that the antifragile beast has managed to contend with, it appears that every passing day we come closer to McAfee’s vision for blockchain. Every day that goes on without any major FUD, bearish event, or systemic failure is one step closer towards mainstream adoption and a move away from the current financial system.
This is the kind of thing that seemed like but a wish on the wind that would never come true by the cypherpunks of old, but they are today the only ones that have been right. We have reached massive levels of adoption, and all of the banks should want in on this revolution – many in fact, are making their plays. Positioning themselves for the coming storm will only allow the old bankers to benefit themselves from the great change that will occur – but failure to pay attention to the tides will only bring disaster to those who are not heeding the warnings.
As always, the bold predictions by some of the biggest financial leaders in the space today can be seen as raving, mad, or simply said to garner attention – but McAfee and others seem to be completely serious about their claims. This kind of unshaking support, as well as the strong hands built by the culture of “HODL”, makes Bitcoin and blockchain a near unstoppable force. And when an unstoppable force like Bitcoin hits an immovable object like the old legacy banking system, one is bound to budge. Place your bets now, and position yourselves accordingly.