Why You Need to Read ‘Resistance Money’: A Philosophical Dive into Bitcoin's Role in the Modern World
Aaron Bailey’s Resistance Money: A Philosophical Case for Bitcoin stands out in the ever-expanding field of cryptocurrency literature as more than just an ode to Bitcoin. Instead, it offers a comprehensive examination of Bitcoin's rise, addressing both the arguments for and against it with depth and insight. Bailey's work is a must-read for anyone—from curious investors to ideological advocates or staunch critics—looking to expand their understanding of cryptocurrency.
A Balanced Perspective for Advocates and Skeptics Alike
One of the book's greatest strengths lies in its balanced approach; unlike other works that may skew heavily pro-Bitcoin or focus solely on criticisms, Resistance Money addresses legitimate concerns with sincerity. As Bailey himself highlights, "I think a lot of people have legitimate philosophical objections to Bitcoin, ethical objections. They worry about the environmental case. They worry about all Bitcoin being used for ransomware." He emphasizes that these concerns shouldn't be brushed aside but brought into the light and critically examined.
In this vein, Resistance Money does not merely defend Bitcoin; it respects the perspectives of skeptics by thoroughly interrogating their concerns. From environmental impacts to using Bitcoin in illicit activities, Bailey dedicates significant attention to these criticisms, providing both ethical considerations and empirical data to paint an accurate picture of Bitcoin's real-world implications.
A Philosophical and Empirical Inquiry
The heart of Resistance Money lies in its philosophical inquiry. Bailey argues that Bitcoin is not just an investment or speculative asset—it’s a profound shift in how we perceive and interact with money. The book dives into fundamental questions: Can Bitcoin make the world a better place? Is it sustainable in the long run? Does it provide genuine benefits to those living under authoritarian rule or enduring financial instability?
The book doesn’t shy away from empirical evidence, either. Bailey makes a compelling case for Bitcoin’s use in real-world scenarios, citing examples where people in hyperinflationary economies or oppressive regimes have turned to Bitcoin as a lifeline. For instance, Bitcoin’s potential for empowering individuals in financially unstable environments and its role as an alternative to traditional banking systems are themes that resonate deeply throughout the book.
Navigating Criticism and Real-World Challenges
Bailey's work is not blind to the challenges Bitcoin and other cryptocurrencies face. He explores the significant blow to crypto's reputation following high-profile collapses, such as the fall of FTX, which sent shockwaves through the industry and hurt consumer confidence. The discussion on crypto's black eyes extends to the repercussions for platforms like Gemini and BlockFi, offering a sobering reminder of the volatility and risks still in this relatively young financial ecosystem.
One of the standout topics in the book is Bailey’s take on self-custody versus third-party exchanges. He underscores the importance of the principle, “Not your keys, not your coins,” advising readers to weigh the pros and cons of cold storage against the convenience of exchanges like Coinbase. This discussion is essential for anyone considering a serious investment in Bitcoin or those simply interested in the practicalities of crypto ownership.
The Potential for Mainstream Adoption
While examining Bitcoin’s potential, Bailey touches on influential figures like Michael Saylor of MicroStrategy, a company whose stock has soared due to strategic Bitcoin investments. This showcases how Bitcoin has become not just a niche interest but a significant financial asset with institutional support, setting the stage for broader mainstream adoption.
Looking ahead, Bailey discusses forecasts that suggest Bitcoin and other major cryptocurrencies could see monumental price increases by 2030. While some projections are optimistic, estimating Bitcoin could hit $250,000 or surpass $1 million, Bailey provides readers with the tools to think critically about these figures and consider Bitcoin’s role in their financial strategies.
Resistance Money is not just another book on cryptocurrency; it’s a philosophical exploration that addresses Bitcoin’s potential, limitations, and societal implications. Whether you’re contemplating an entry into crypto investing, seeking a deeper ideological understanding, or firmly in the camp of skepticism, Bailey’s balanced and thoughtful approach makes this book an indispensable resource for navigating the complex world of Bitcoin and digital assets.
Resistance Money: A Philosophical Case for Bitcoin is available now.
Subscribe to The Everyday Warrior Nation: http://www.youtube.com/@EverydayWarriorNation
Mike Sarraille is the founder and CEO of Talent War Group, a consulting and executive search firm; and Legacy Expeditions, an extreme adventure company which has set 4 x world records in skydiving. Mike is a 2023 and 2024 Top 30 Global Gurus leadership speaker, 2 x Best-Selling Author of The Talent War: How Special Operations and Great Organizations Win on Talent and The Everyday Warrior: A No-Hack, Practical Approach to Life. Mike also participated in the filming and production of two documentaries, Drop Zone Everest and Triple 7: They Said It Couldn’t Be Done. Mike started the Everyday Warrior Initiative on Men’s Journal in 2022 before moving it to Sports Illustrated On SI alongside his co-host John Welbourn. He is a former Recon Marine and Scout-Sniper, and retired US Navy SEAL