Coinbase is the dissident right wing investment of a lifetime
As technology and political ideology intersect more and more, it’s very difficult to find a company that supports much of the same worldview as many right wingers. Just recently, we saw Google’s new AI image generator and the type of content that it’s spitting out…
We thought Elon Musk buying twitter was going to be our saving grace. Unfortunately, he caved to the Anti-Defamation League (ADL) and many dissidents, like Nick Fuentes and Jared Taylor, remained banned from the “free speech platform”.
This is important because if artificial intelligence is going to be the most groundbreaking technology we’ve seen in all of human history, then those programming the AI need to be neutral. Instead, we’re seeing a full leftist tilt in how these new systems are being created. This is how history gets completely re-written…
Where do we go from here? If Google, Microsoft and Zuckerberg are at the helm of the AI and the ADL is now controlling Twitter, do we stand a chance?
Is it over?
If you’ve been following along with my previous articles and especially with my twitter, you know I love Coinbase - the stock, the company, the mission. Everything.
Last month, they reported stellar earnings and while listening to the earnings call, it dawned on me…Coinbase is the right-wing, dissident investment of a lifetime.
In this article, I’m going to breakdown why I believe this and then go into the price of the stock and where I see it heading in the future.
The Future of Finance
In a time where the US government and banking class are doing everything they can to debase the US dollar and move us to a central bank currency backed by social credit scores, Americans need an alternative. An alternative that can be safely purchased on an exchange, held in a secure wallet, and can hedge the debasement of fiat currency.
Coinbase provides this as the go-to place for all things crypto. Crypto gives us the opportunity to purchase digital currency as a hedge against incessant dollar devaluation by the ruling class. It allows us to purchase different goods. It’s completely neutral as a currency - it doesn’t care about your ideology. It’s for everyone.
Taking on the Biden Administration
Coinbase has become the spearhead of the crypto movement. Being the only company to file publicly with US regulators - and really the only crypto company left standing after all of the fraud-ridden companies went bust - they are constantly fighting back against the US government. Currently, they are in a legal battle with the SEC (Gary Gensler) where they are attempting to bring legal clarity to the crypto space.
Dapp Store
Dapps (decentralized apps) are similar to an app or game you might download on your mobile phone or computer, except instead of using an email address and password to access them, you can access them with a crypto wallet.
Because blockchains are decentralized peer-to-peer networks, the code powering dapps is hosted on public platforms where no one person or group has total control. Most dapp code is also open-source, making it available for anyone to view, audit and verify.
Traditional apps run on centralized servers, governments can coerce companies to block access while dapps don’t require anyone’s permission to use — and no individual entity can stop you from connecting to an open blockchain network.
In the Coinbase app, you’ll find a tab labeled “Explore” which allows you access hundreds of decentralized apps - much like the Apple App Store.
A decentralized place where censorship-free apps can be listed and accessed by users.
Farcaster
Farcaster is a decentralized protocol designed specifically for building and connecting social apps. It aims to create a censorship-free environment where users have full control over their data and audience.
Warpcast, an interactive social media platform with a concept similar to X (Twitter), is the most prominent application built on Farcaster.
What makes Warpcast different than Twitter/X is that Warpcast has Frames. Frames essentially allow any “cast” (tweet) become a mini-app where you can mint NFTs, make purchases, etc. all without leaving the platform. Check it out…
Why this is important is because of how intertwined this protocol is with Coinbase. Not only are the founders of Farcaster former Coinbase developers, but the app just came out about one month ago and Coinbase mentioned Farcaster on its earnings call multiple times. As early investors in the protocol, Coinbase has an incentive to help the protocol thrive - and that’s exactly what they’re doing. They are utilizing their Layer 2 application, Base, to build on Farcaster.
In summary, I believe Coinbase truly encompasses all things decentralized and anti-establishment. Coinbase doesn’t necessarily promote a political agenda but their values align with the values of any right-winger. Whether it’s sound money that is outside of the fiat system, censorship-proof social media, decentralized applications or fighting against the Biden Administration’s draconian action against crypto - Coinbase is on the frontlines of it all.
In my premium portion, I’ll discuss the stock and where I see it headed this year.