Corbyn on a Surge, What Would a Labour Government Mean For Bitcoin?

It’s the final countdown with Britain now holding its breath as the people are asked to make a most difficult decision: do they prefer a blue or a red peaceful revolution?

For whoever wins will transform this country fully, yet in completely different ways. With Boris Johnson of conservatives, British geopolitics will never be the same, while much else is just a continuation where economics and the like are concerned.

With Jeremy Corbyn, the British economy will see the biggest investment in generations, while geopolitically it is probable good relations with Europe are not affected as an exit would likely be amicable.

Making this the election of this century so far with Corbyn’s Labour seeing a huge jump of 4 to 5 points recently.

This is just the latest poll that shows only labour are gaining, this time from the Brexit Party too as well as Libdems.

Some polls have them at 35%, putting them within a margin of error, but what now has Corbyn as a real contender for Prime Minister is this trend of gaining significantly.

Some say this is a local election, but on the polling day it is probable people will have only one question in mind: Corbyn or Boris.

They may like or not like their local candidate, but when it comes to questions that really matter – like war and peace itself – it is of course whether they choose Boris or Corbyn that makes a difference.

That means a vote for Libdems is now a vote for conservatives as Corbyn has outplayed them and very skillfully.

This underestimated man is now intriguing plenty for the past few weeks he has shown a considerable level of intelligence.

While Boris hides away expecting the great British public to just coronate him by default, Corbyn has once again hit conservatives where it hurts.

“This document is very ominous,” Jeremy Corbyn said revealing another leak, this time on the government’s own analysis of Brexit’s effect on Northern Ireland and more widely. He said:

“There will be other secret reports like this one in every government department that reveal the disastrous impacts of his policies on the safety of the food you eat, on the rights you have at work, on the pollution of the air that we breathe and on the jobs and industries that people work in.

These reports exist but the government is hiding them from you because in this election the Conservatives want you to vote blind.”

With that punch on one side, he gave another bruising hit by going after Boris’ own core base, announcing:

“A £250 billion UK National Investment Bank and network of Regional and National Development Banks to give small businesses and the industries of the future the funding they need.”

That’s a mountain of money, and money that small businesses especially do very much need.

“Industries of the future” is what you’d expect Boris to say, but conservatives have almost nothing about their core constituency in their manifesto, with Boris’ “F*** business” now sounding a bit more than a gaff.

As so much money is being splashed from Labor, with a focus now on libraries too, one policy could well get students out of bed.

Today’s libraries are mainly digital where it counts. Specifically, numerous academic papers and journals, the latest research from medicine to law, is locked behind unaffordable paywalls that demand £20 for just an article.

For poor recent graduates especially, who after being trained in university for years now they can’t access this vital tool, being able to continue to read these papers can make a significant difference between starting their own small business or securing a very nice job and that of maybe having to start off as a waiter for a bit.

Such policy is probable from Labor, and if they do make this investment, then Britain as a whole will become smarter.

With libdems out of the picture, especially since labor has promised a referendum, the remain vote may well go red because the choice is now Corbyn or Boris.

While Corbyn has been smeared of all sorts, his manifesto is actually more pro-business than that of Boris.

We mean ordinary business, you know, the vast majority of those that employ, not corporate business that only thinks of monopolizing everything and kicking ordinary businesses out of business.

So, as unthinkable as it might seem, plenty of conservatives may go Labor. We wouldn’t be surprised, in fact, if the Financial Times endorses Corbyn.

Scotland might also have to carefully think. SNP has no chance of forming a government by itself, so what’s the point of voting for them in this election.

Scottish interest, independence, and the rest, should perhaps be kept for another day because in the British system, who gets a majority of seats forms government or has first chance to do so.

The many seats in Scotland can determine who does so. If they give those seats to labor, for example, then obviously chances increase it is Corbyn that forms government. Likewise, if they give them to SNP, then they are kind of giving them to conservatives.

The argument is of course that SNP can form a coalition, but the British system is designed for majorities and if they give the seats to SNP, they make a conservative majority more likely.

Nor is it clear why they wouldn’t vote Labor, especially when this Labor is offering them precisely what they want. Making an SNP stubbornness a bit childish in this case considering what is at stake.

“Industries of the future” is a very general term with their manifesto having nothing specific about this space, but that massive £250 billion for startups can help plenty of crypto or blockchain related businesses.

More generally, there are some pretty well connected people in Labor that happen to also be bitcoiners or that even run fairly successful bitcoin businesses or back them somehow.

So while we don’t expect Labor to be very friendly towards this space, we wouldn’t be too surprised if they are more friendly than you’d think.

They’d be very busy with far bigger matters in any event, but the empowerment of people through code is something you’d think ideologically they’d support.

They might not like bitcoin’s 21 million limit, but they might like the fact its not controlled by banks. They might also like the fact you can have digital cooperatives through DAOs and the like.

Since neither party has said much about this space, we’re neutral in that regard, but looked holistically it does appear Corbyn is starting to win over independents.

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