And they may compete in a new monetary system that moves away from the petrodollar and all of its costly externalities: a neutral Bitcoin standard that plays to the strengths of open societies, does not depend on dictators or fossil fuels, and is ultimately run by citizens, not the entrenched elite.
No African needs permission to buy and hodl Bitcoin. Simply recognize how the ‘leaders’ in the continent have exploited the fiat based legacy financial system to enslave you thus opt out through Bitcoin.
With bitcoin acting as an alternative in inflation-ravaged countries such as Venezuela, Argentina and Nigeria, it has the potential to alleviate human strife. Maybe after reading this article, fiduciaries might suppress their own fears of crypto-volatility to simultaneously pursue superior investment returns and social impact.
When Bitcoin passes gold’s market cap in 10 or 20 years, everyone will remember that Paul Tudor Jones’ public choice in May 2020 was the tipping point for Bitcoin.
The logical conclusion of this trend is that eventually, nobody will be willing to lend dollars when they can just buy bitcoin with those dollars themselves. And once the world has reached that level of understanding of bitcoin, it’s game over.
In Bitcoin’s case, the novel technology provides energy producers a radically new way to monetize energy, and as a result it will permeate every energy production site across the globe. This will push down the profitable price of energy for all miners, driving more energy efficiency as wasted, stranded and renewable sources with near-zero (or below zero) energy cost are sought out to power mining facilities.
This report makes the case that the 21st century emergence of bitcoin,
encryption, the internet, and millennials are more than just trends; they herald a wave of change that exhibits similar dynamics as the 16-17th century
revolution that took place in Europe.
Bitcoin achieves the unit of account (UoA) status for everyone globally while simultaneously becoming the most desirable asset to own. Which only encourages more people to continue using it as their store of value (Sov) and medium of exchange (MoE).
Bitcoin-backed US dollar loans may be a good option for those who have held bitcoin long-term, have a relatively low tax basis, and need access to dollars. As bitcoin becomes a larger share of an individual’s overall assets, many holders would like to improve their lives by accessing the liquidity from bitcoin gains.
Free men don’t ask permission to transact with each other and don’t rely on the legacy third-party financial institutions that operate in tandem with State authorities.