It has been interesting watching the ever-growing value of a bitcoin and it causes me to pause and consider what it is about them we find so alluring. In a nod to previous precious commodities, bitcoins are not generated but are mined like gold, which as you may know was the backing for US currency until President Nixon took us off the gold standard in 1971. So we think of this cryptocurrency as we do gold or other precious metals or at least use language to give it that allure. Earlier, President Eisenhower passed a law that stated “In God, We Trust” in 1957 must appear on all currency. It seems that this is another step in the long, withdrawing roar, moving from belief to belief. Recently, in an interview, an expert in cryptocurrency said that people are putting their money and hope in bitcoin due to its ever-changing code- supposedly unbreakable and secure- more secure than government-backed securities or gold. It seems we have found a new impenetrable mystery in which to place our faith. While we move from God to Gold to code, I am reminded of a line from Lori Andersons “O Superman”
‘Cause when love is gone, there’s always justice
And when justice is gone, there’s always force
And when force is gone, there’s always Mom. Hi Mom!
Perhaps, today, when God is gone and Gold is gone, there is always code.