Reading into the latest news, almost every financial or economic column I have come across is talking about Bitcoin. Its craze has even spread among my peers who are currently installing their own Bitcoin apps (i.e from Bitcoin.co.id and others) to partake in their own trading, hoping to somehow double their pocket money. Rather than simply talking about Bitcoin as another means of investment and speculation to further accumulate our wealth, in this essay, I’d like to contribute to the discussion by analyzing how does Marx’s theory of commodity fetishism could actually apply in the emergence and also rise of Bitcoin as a form of cryptocurrency. What exactly is this latest technological invention that some economist claim would transform current financial and economic system that we know today? Firstly, we need to clear up some ontological confusion on what cryptocurrency and bitcoin are. Cryptocurrency is a type...
Comments
Post a Comment