{"id":5996,"date":"2022-11-18T08:00:00","date_gmt":"2022-11-18T08:00:00","guid":{"rendered":"http:\/\/ci02b096fd700625c3"},"modified":"2025-09-28T17:44:21","modified_gmt":"2025-09-28T22:44:21","slug":"state-stifles-innovation-opt-out-with-bitcoin","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/culture\/state-stifles-innovation-opt-out-with-bitcoin","title":{"rendered":"The State Will Stifle Innovation, Unless We Opt Out With Bitcoin"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p><em>This is a transcribed excerpt of the \u201cBitcoin Magazine Podcast,\u201d hosted by P and Q. In this episode, they are joined by Izabella Kaminska, editor at the Blind Spot and former editor at the Financial Times, to talk about how she realized that Bitcoin is an important piece of the puzzle for humanity to move forward and continue innovating.<\/em><\/p>\n<div class=\"youtube-embed\" data-video_id=\"IlOR-_klnAM\"><iframe loading=\"lazy\" title=\"GENESIS EXPLODES AMID FTX TURMOIL\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/IlOR-_klnAM?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p><a href=\"https:\/\/youtu.be\/IlOR-_klnAM\" target=\"_blank\" rel=\"noopener\">Watch This Episode On YouTube<\/a> Or <a href=\"https:\/\/rumble.com\/v1uyfze-donald-trump-running-in-2024.html\" target=\"_blank\" rel=\"noopener\">Rumble<\/a><\/p>\n<p>Listen To The Episode Here:<\/p>\n<ul>\n<li><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/how-bitcoin-fits-into-our-world-today-w-izabella-kaminska\/id1459884105?i=1000586591492\" target=\"_blank\" rel=\"noopener\">Apple<\/a><\/li>\n<li><a href=\"https:\/\/open.spotify.com\/episode\/7vTBffVfheYALWO15cIOgP\" target=\"_blank\" rel=\"noopener\">Spotify<\/a><\/li>\n<li><a href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly9iaXRjb2lubWFnYXppbmUubGlic3luLmNvbS9yc3M\/episode\/YWEzMWU0OWYtZmRmOS00NTI1LWFkZDQtZWE5MmVmZWZmZjJi?sa=X&amp;ved=0CAUQkfYCahcKEwjg9IzT_7X7AhUAAAAAHQAAAAAQAQ\" target=\"_blank\" rel=\"noopener\">Google<\/a><\/li>\n<li>Libsyn<\/li>\n<\/ul>\n<p>P: Everybody\u2019s worried that it\u2019s gonna be like, \u201cIf you don\u2019t spend this CBDC within two weeks, you lose it.\u201d It seems like we\u2019ve already got systems in place and people are already very comfortable with credit-card-based systems or similar systems where it\u2019s like, \u201cIf you spend it on this specific sector of the economy or in this specific way, you get bonus points.\u201d It\u2019ll be sort of like the carrot versus the whip, but I think that will still lead to the same outcome in the end, if they\u2019re able to push it and launch them. <\/p>\n<p>Izabella Kaminska: Yeah, I think that\u2019s exactly right. With the energy crunch, I think you\u2019ll see people getting discounts on their energy bills if they do energy-saving behaviors, and that\u2019s how it will start. It will all combine into an account-based programmable credit feature where money itself becomes totally de-neutralized because nobody\u2019s money is gonna be fungible with somebody else\u2019s money because everyone will have different boundaries on how they can spend their money.<\/p>\n<p>It used to be that money is neutral and that\u2019s why markets work because the price signal is what determines how goods respond to supply and demand. But in a CBDC world, you risk totally demonetizing the system and going to a world where things clear, not through any price signal, but through some arbitrary algo-driven AI system that determines on a top down, what I call, a Gosplan 2.0 system, which is focused not on innovation and human creativity, but is very top down and retrospective, based on how your behaviors were yesterday, not on what you can fulfill in the future. <\/p>\n<p>P: Oh, that\u2019s interesting.<\/p>\n<p>Kaminska: That\u2019s really dangerous because for us to really get through the challenges of the next century, we have to innovate and any of these AI, holistic, overly controlling systems have a tendency, in my opinion, to repress the individual and repress his capacity for innovation. <\/p>\n<p>Innovation can only come with risk. But if you want to de-risk the system \u2014 and I think that\u2019s exactly what they\u2019re trying to do, they\u2019re trying to de-risk the system to the nth degree \u2014 but with no risk, there is no innovation. And that is the problem. If there\u2019s no innovation, then I think our species is kind of doomed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As governments around the world prepare for central bank digital currencies, it is imperative that we use bitcoin to solve challenges of the 21st century.<\/p>\n","protected":false},"author":2520,"featured_media":3322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[1826,1266,1216,219,338],"class_list":{"0":"post-5996","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-culture","8":"tag-bitcoin-magazine-podcast","9":"tag-innovation","10":"tag-podcast","11":"tag-regulation","12":"tag-the-state"},"author_data":{"id":2520,"name":"Bitcoin Magazine","nicename":"bitcoin-magazine","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/01\/bitcoin-magazine-logo.jpeg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/protest-resistance.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/5996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2520"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=5996"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/5996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/3322"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=5996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=5996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=5996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}