Aleksandar Svetski: Bitcoin Creates Excellence And A World Of Financial Responsibility
Aleksandar Svetski Interview: Bitcoin Creates A World For Financial Responsibility And Excellence
Aleksandar Svetski, a visionary thinker and the author behind “The UnCommunist Manifesto” and “The Bushido of Bitcoin,” spoke with CCN journalist Andrew Kamsky about how Bitcoin is becoming a financial instrument that can be used as a tool to foster a culture of responsibility.
With a rich background in technology and entrepreneurship, Svetski has emerged as an advocate for Bitcoin explaining its potential in redefining society’s understanding of money, freedom, and personal responsibility.
Svetski Explains Why “Bitcoin is Responsible Money”
Svetski explains that Bitcoin is more than just a financial tool and that it’s a force for personal and societal change. He explains that “with the bank, I’m not responsible for my money. The bank is responsible for my money. Therefore, that is not my money. It is the bank’s money and they can do whatever they want with it. They can lock me out if they want to.” Instead, Bitcoin grants individuals the power to control personal finances directly, breeding a profound sense of responsibility in the form of self-custody of Bitcoin.
He explains that “Responsibility is the important thing. Responsibility is a virtue, whereas freedom is a value,” Svetski emphasizes the paramount importance of responsibility, as a virtue inherently required when managing digital assets which leads to a more empowered society explaining that “If you have responsible money, if you have a civilization, if you have a culture that’s built around responsible money, you start to get more responsible people.”
“Bitcoin Is Not An Investment”: Svetski Insights On The Importance Of Savings
Svetski explains that “proper savings should appreciate in purchasing power proportional to the amount of productive increase that civilization has.” He explained that “by aligning one’s savings with Bitcoin, individuals can ensure that the wealth generated from their labor will retain value over time and grow or appreciate in accordance with the broader advancements of society”.
This implies that individuals without prior knowledge of investing can opt to secure individual wealth in Bitcoin to save and have the Bitcoin appreciate in value over time.
“Civilization Is Built On The Capital That Came Before Us”: Why Saving Is Important? Explains Svetski
Svetski states that “civilization is literally built on the stored capital of that which came before us,” emphasizing the important role of accumulated wealth, knowledge, and innovations in the advancement of society.
‘Bitcoin is the first vehicle we’ve had that allows people to save again’ and the principle of saving in a society highlights how each generation of people will benefit from the act of saving and the achievements earned from its predecessors, allowing humanity the future time to solve increasingly complex and higher-quality problems.
Svetski argues that the act of saving, particularly in a stable and appreciating asset like Bitcoin, can be a personal financial strategy and a vital contribution to the collective progress of civilization. Saving helps individuals and societies to shift focus from immediate, low-quality problems to tackling high-quality challenges, such as transforming barren landscapes into thriving metropolises.
“What we should be doing is seeking to find higher quality problems to solve. Right? Like a low quality problem is what the f**k do I eat tomorrow? Right? which is “a problem of poverty, but a problem of wealth is like, how do I transform an empty barren desert into a metropolis, right? Like what they did in Dubai, for example, like that’s a high quality problem.” In essence, the capacity to save and build upon the capital of previous generations underpins a society’s ability to dream bigger and achieve the seemingly impossible.
Svetski’s Opinion On El Salvador Adopting A Bitcoin Standard: “Bitcoin Is A Framework For Excellence”
By integrating Bitcoin into the financial system of El Salvador, Svetski explains that not only does this strategy create a hedge against the instabilities of the US dollar but also edges El Salvador into a culture of excellence and virtue.
As Svetski states, “Bitcoin is a framework for excellence. That’s what it enables and then we as stewards of the new world must take on a set of virtues that make us able to operate successfully in that framework.” Svetskis perspective explains the inherent cultural shift in thinking and mentality that will arise out of a change of financial standard.
Svetski believes that Bitcoin may be adopted by countries, and used as a powerful tool to gain strong economic identity versus other fiat friendly countries. The shift toward a Bitcoin Standard not only changes financial strategies but also transforms national mindsets and cultural values.
Svetski argues that countries who choose to adopt Bitcoin will foster a shift towards responsibility and sovereignty, presenting the Bitcoin Standard as a valuable tool for countries to adopt as Bitcoin is more than just currency, but a driver of societal change in thinking.
Svetski On El Salvador Vs. China: Two Opposing Bitcoin Views
When questioned on the contrasting opinions of both El Salvador and China towards Bitcoin, Svetski points out that the decision to adopt a Bitcoin Standard fundamentally depends on the leadership’s vision and openness to the concept.
El Salvador, under the leadership of President Nayib Bukele, embraced Bitcoin as legal tender and Svetski compares this to strength in leadership built on a vision toward a better future. He describes Bukele as representing “the ideal archetype for leadership, the philosopher king, someone who is a real strong, powerful thinker, and is like a father to his people.”
In contrast, China’s approach, characterized by the development and implementation of a Central Bank Digital Currency (CBDC), reflects a different set of priorities and a divergent view of leadership.
Svetski suggests that the Chinese approach is indicative of China leadership’s desire to control and enforce centralization which Svetski implies that such leadership is primarily driven on weak motives, seeking to maintain power and control rather than empowering individuals (as in China), contrasting sharply with the decentralized ethos of Bitcoin. Svetski outlines that this form of leadership is “desperate to tell people what to do and how to do it and I just find that cheap and pathetic and you know in time, they’re the kind of people who always lose.”
Svetski highlights a fundamental divide in how nations and their respective leaders are currently perceiving the role of digital currencies in shaping the near future.
El Salvador’s adoption of Bitcoin represents a leap of faith in decentralized finance and a bet on the empowerment of its citizens. Meanwhile, China’s CBDC initiative underscores the value placed on surveillance, control, and the continuation of centralized financial authority.
This divergence in thought, according to Svetski, is reflective of a deeper philosophical debate in regards to the future of money, power, and society.
The Concept Of “Excellence Vs. Average” Or “Decentralized Vs Centralized”
Svetski explains how “average is a descendant energy, whereas excellence is an ascendant energy. And that’s what we want, we need more ascendance and decentralization generally tends towards excellence because you have competing units, right? Whereas centralization generally trends towards equality.”
The above statement by Svetski shapes his argument that the prevailing trend towards centralization in the current era is fundamentally conflicting with the principles of decentralization and the core ethos of Bitcoin. He suggests that societies rooted in centralization tend to foster mediocrity.
He argues that mediocrity leads to a homogenized, average society that stifles innovation and progress, whereas a society oriented towards a Bitcoin standard is more likely to cultivate excellence, where individual merit, creativity, and responsibility are paramount.
“I would say even more important than the centralized versus decentralized dichotomy, is the equality versus excellence dichotomy, right? We live in an age of equality and democracy, which are the two ugliest things you can do to a civilization. If you want a great civilization, it needs to be excellence oriented. Not average equality , right?.”
Finally, Svetski underscores sound money’s impact on societal norms, positing that Bitcoin promotes long-term thinking and a pursuit of quality. This shift, catalyzed by Bitcoin’s country adoption, inspires societal and individual pursuits of merit, creativity, and accountability, further propeling societies toward achieving greatness and creating beauty, and ultimately diverging from the mediocrity or ugliness of equality.
Disclaimer:
While the interview provides valuable perspectives on Bitcoin, readers are encouraged to conduct their own research and analysis before making any financial decisions. The views expressed in the interview are solely those of Aleksandar Svetski and do not necessarily reflect the opinions of CCN or its affiliates.
