So, as Bitcoin and its community moves forward, let’s make sure to raise your glass or pour out some Club Mate in honor of a magical place and time: To the freedom of transaction, to blockchain eternity AND BEYOND!
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning”– Henry Ford
Bitcoin opens your eyes to how money works.
Bitcoin makes you aware of the importance of your rights to privacy.
Bitcoin helps you understand that the current monetary and financial system is flawed.
Then I remembered the window, it was solid, and it worked. Immediately it made sense; I had an option.
With Bitcoin as a point of reference for how toxic the global financial system truly is, the gas lightning is wearing off – and the people are starting to figure out where they can go to breathe easy again.
When it comes to Bitcoin and Balinese cockfights alike, conversations that focus exclusively on speculation, gambling, and greed risk totally missing their points. Discussions surrounding Bitcoin in particular need to consider the political and philosophical questions this community raises about money, privacy, self-sovereignty, and of course, memes.
Bitcoin then can be seen as the extrapolation of what is a necessary implementation of that which would set the stage to the natural asymptotic convergence of all centrally banked money to perfectly demand elastic supplies but without cooperation or political coordination of any single central bank or nation.
Whereas short term thinking dictates the course of our monetary and fiscal policy, Bitcoin forces participants to have low time preference and make longer term decisions. As the network grows in prominence and individuals opt for a “Bitcoin Standard”, it may put pressure on Central Banks to act more responsibly.
But it should also be pointed out that Goldman Sachs is steering its investors to a safe haven that doesn’t hedge against this failing system as well as bitcoin does.
Money creation solves short term problems like liquidity in financial markets or economic collapse endured during a global pandemic, but only kicks the can down the road whilst creating and exacerbating wealth inequality. This has heart-breaking consequences for the livelihoods and welfare of billions of people. Bitcoin fixes this.