A Bit of Bitcoin?

Many astrologers have been predicting the rise of Bitcoin and other cryptocurrencies now that Uranus has entered Taurus. There are some good reasons for thinking they may be right. Taurus is the sign associated with money, currency, and valuables, and Uranus is innovative, revolutionary, and independent – it’s the perfect combination for nongovernmental currencies. Uranus is also associated with the internet and mass communication, a further indicator in favor of crytocurrencies.

We also have to consider that the structure of financial institutions, as well as governments, is changing. With the planet of deep transformation, Pluto, in the sign associated with institutions, Capricorn, we would expect some significant changes in banking, corporations, and government. The last time Pluto was in Capricorn, the American Revolution took place, so we might anticipate some ground-shaking possibilities.

It was on Pluto’s station to turn direct (appear to change direction in the sky) in 2008 that the Great Recession began, with the failure of major banks. From the perspective of a decade later, it may appear that the Too Big to Fail credo was successful. Yet the amount of legislative and economic energy that went into propping up the system approaches the energy requirements of mining bitcoins (which, apparently, uses as much energy per year as the Republic of Ireland). Add in a sagging lack of faith in government and corporations by millennials (who are approaching their peak economic years), and again, cryptocurrency seems a likely option.

Yet there’s reason for caution. First, even in a decentralized and global world, governments still have a great deal of power. From the tax surveyors of ancient Egypt to the Exchequer of the King to the modern tax collector, governments have been pretty unforgiving about tampering with their sources of revenue. On certain parameters it may be appealing to say that governments are irrelevant – but they’re not, and they wield power that is both legal and military. Besides, they do represent to one extent or another the collective will of the people, and provide services that cannot be accomplished otherwise.

Astrologically, we should also note that Uranus is about to spend seven years in Taurus. While it’s true that the first few weeks are an indication of the topics that will be prominent until 2025, we can expect that the specifics will change a great deal. When Uranus entered Aries, it was apparent that radical groups would be making an impression on our collective consciousness. Yet today the first of those groups to emerge – like the Occupy Movement and the Tea Party – have been supplanted several times.

Following the same logic, we can expect that currencies will indeed go through some transformation and renovation with Uranus in Taurus (what will happen to the Euro?). It could very well be that an international, and possibly nongovernmental currency will emerge (hopefully more energy-efficient and environmentally sound than Bitcoin). But it’s very early in the game, and the ultimate outcome is a long way off. When looking at cryptocurrencies today, caveat emptor.