What is Konstantin Semin wrong about?

I have watched “Agitation and Propaganda” on December 16, 2017, shot by respected by me Konstantin Semin. Afterwards the following comments arose.

Yes, the difference between rich and poor has recently grown significantly in all the countries. But what does it mean? The fact that the system of power will remain unchanged? Or, maybe, the increased difference in incomes speaks just about the fact that the system of power came to the moment of revolutionary changes? Usually the answer to this question is positive.

Yes, once a wave of speculation with bulbs of tulips took place in Holland. But it was based not on the unique properties of tulips, but on their common disease. It was a mistake. It was revealed, and the cost of sick tulips fell. What is the basis for the cost of cryptocurrency?

Let’s for example consider our Russian financial system. The cost of credit is one of the largest in the world, if not the largest one. What does it mean? This suggests that the relative costs for the Russian financial sector are the largest in the world. In other words, the salaries of our bankers are too high compared to the salaries of the rest of the country’s population. If you transfer this comparison to a global scale, the difference will be even higher. The value of the same crypto currency is precisely that the relative value of their content is minimal. Therefore, Gref is absolutely right that it is useless for the future world to build banks. For them, there is no room for it.

It may give the impression that Gref knows what to build. It may be, but I don’t think so. And that’s why. Gref plays by the rules of the current government, and this plays a cruel joke at a time of revolutionary change. Power always thinks that it controls the rules of the game, that they remain the same as it sees them. The problem is that at a revolutionary moment a new class appears, which creates new rules of the game. So it was at the time of the change of power of the feudal lords to the power of the capitalists. The former controlled the land and the peasants who worked on it, believing that their titles and authority were given them by God. In the meantime, the capitalists controlled the speculation and, during a number of cycles, “money-commodity-money stroke” crushed power under themselves.

At the heart of the revolution of cryptocurrencies not speculation lies, but the direct creation of new rules of the game. For example, bitcoin was created as an analog of gold, only free from taxes imposed by power of speculators. The new world is created immediately from nothing, only from the rules, without the initial accumulation of capital, without a long call on the way “money-commodity-money stroke”. Such is the history of the Ethereum crypto currency with a system of smart contracts and its creator, the young programmer Vitalik Buterin. If the driving force of the previous revolution was the capitalist class, united by the ideology of speculation, then the current revolution is not made by the class that Marx tried to compute, but by individuals not connected at all with any ideology other than the idea of ​​perfecting the world.

Thus, we can state that the power of speculators comes to an end. They no longer fully control the rules of the game. There came a dual power, which in the foreseeable future must end with the victory of a more perfect system.

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