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The CoinMetro Team

02.11.2018


The Crypto Community’s Political Ideology

The Crypto Community’s Political Ideology

Cryptocurrencies are decentralized, and the crypto community is generally – and ideally – neutral when it comes to authority or politics. Digital currencies, especially Bitcoin, first saw massive implementation primarily in the U.S. The wide infiltration of Bitcoin raised questions about its connection to politics. Are we talking about the dominance of a certain crypto political ideology? Do cryptocurrencies belong to political parties?

Today’s blog post will give an overview of the current political tendencies in the crypto landscape.

Should the crypto community be involved in politics?

The main virtue of the crypto community is neutrality and democracy. Digital currencies were created to be decentralized and to belong to everyone and no-one.

Lately, there have been speculations about political inclinations of the crypto community. We know where the speculations come from. The crypto-verse is becoming more and more regulated, although the original idea was to steer away from the traditional financial systems and everything they may imply. But the financial titans have their tools to get their hand on the industries and communities that can be regulated and controlled, the crypto community included.

What prevalent political ideology are we talking about?

Is the crypto community apolitical after all? We’d say the idea of it is, but the real crypto community consists of millions of members with their political views.

What is the crypto community’s political ideology? One of the ways to find it out is to conduct a research on which political parties and ideologies the majority of crypto enthusiasts belong to.

Has a research been conducted?

In the second quarter of 2018, CoinDesk Research conducted Blockchain Sentiment Survey, and the findings turned out to be very surprising.

More than 1,200 crypto community respondents broke down to 8% anarcho-capitalists, 24% libertarians, 21% conservatives, 9% centrists, 27% liberals, 9% socialists, and 3% nihilists.

It can be pointed out that liberal come out as the largest single category. When it comes to right versus left, Ryan concludes that 52% of the crypto community is right-wing, and 45%, left-wing.

As it can be seen, political ideology in the crypto community shows great diversity.

Is there any data on altcoins?

Good point! The crypto-verse is not all about Bitcoin anymore, so here are some important data on such altcoins as Ethereum, Dash, Ripple, and Monero.

Ethereum seems to have the highest percentage (55%) on the left, whereas Dash contains the highest concentration on the right (78%). Ripple clusters towards the center, and Monero inversely nurtures the extremes at both ends of the spectrum, also showing the highest percentage of anarcho-capitalists (36%).

Do Politicians Embrace Bitcoin?

That’s a different angle of the story, but they certainly do. Moreover, politicians are now thinking about accepting donations in Bitcoin. Some of them already do, while others’ve been fighting to introduce bans on Bitcoin donations.

Over to You

What are your political inclinations as a crypto enthusiast? Let us know you have a voice and comment in the section below!

Happy weekend and see you next week!

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The CoinMetro Team