Crypto-Egalitarian Life: Ideational and Materialist Approaches to Bitcoin.

In this article I explore the fundamental tension in the world of Bitcoin between 'maximalists', who see Bitcoin as a tool for the promotion of a moral revolution, and 'traders', who approach Bitcoin pragmatically as a financial tool. Based on ethnography of a crypto gold rush that took place in the...

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Published in:Social Analysis Vol. 66; no. 3; pp. 62 - 83
Main Author: Shapiro, Matan
Format: Article
Published: Berghahn Books Sep2022
Subjects:
Online Access:View this record in EBSCOhost
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        au: Shapiro, Matan
        affil: Postdoctoral Research Fellow, Department of Digital Humanities, King's College London
      su:
        Tel Aviv (Israel)
        Materialism
        Equality
        Libertarianism
        Bitcoin
      sug:
        subj:
          Materialism
          Equality
          Libertarianism
          Tel Aviv (Israel)
          Bitcoin
      keyword:
        blockchain
        cryptocurrency
        egalitarianism
        libertarianism
        money
        techno-utopianism
        blockchain
        cryptocurrency
        egalitarianism
        libertarianism
        money
        techno-utopianism
      ab: In this article I explore the fundamental tension in the world of Bitcoin between 'maximalists', who see Bitcoin as a tool for the promotion of a moral revolution, and 'traders', who approach Bitcoin pragmatically as a financial tool. Based on ethnography of a crypto gold rush that took place in the Bitcoin Embassy in Tel Aviv, I argue that, despite heuristic distinctions, both of these attitudes advance egalitarian tendencies. While maximalists offer a sense of belonging to a close-knit community of equals, traders promote the nominal equality of all value-making strategies in an open financial environment. I use the terms 'ideational' and 'materialist' to characterize these two modes of practice, which realize contemporary visions of egalitarian life in different forms.
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    language: English
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