This is the opinion of the editor of Aleks Svetski, author “The Non-Communist Manifesto,” founder of The Bitcoin Times and Host of the “Wake Up Podcast with Svetski.”
Bitcoin is the best currency. It includes all financial services:
- Store of value (SoV)
- Central exchange (MoE)
- Unit of account (UoA)
…and they do so in a way that any person or participant, anywhere in the world can:
- Save without being stolen their wealth invisibly
- Use it without Big Brother telling them what or who is allowed to do it
- Account, check and confirm what they have, when they received it and how much it is in accordance with everything.
Furthermore, all of this is possible without any kind of fiduciary intermediary, government regulation, discretionary supervision or “the law of the anointed.”
Money is the most important thing created by humans because it is a technology, and we are the definition and types of people. Money is the method by which we measure or try to calculate complex things in all material things, such as time, energy and material things, along with things that are more considered, such as “price,” “reputation” and “quality.” .”
As a result, money is not a “measuring stick,” but a means of communication. It is the process by which a high level of cooperation is achieved.
Money is essential for the development of any country which is more difficult than a few hundred people and without it we cannot develop development. There would be no division of labor or any form of production beyond self-reliance.
Now, we are in 2022. Almost 14 years since Satoshi Nakamoto released the white paper of what has been coming out. above money (at least for this country).
So, how does this relate to the Bitcoin cycle?
Well, if bitcoin is the next and final global currency, then by definition (and by design) it is and already around. It is a financial sector and a financial system that already contains all the necessary elements of a global economy.
So, it is not a question of “if,” or “when,” but a question of progress, growth and importance.
In 2020 I wrote an article entitled “Bitcoin & Lockdowns,” in which I presented a model for understanding Bitcoin’s long-term trajectory, through a lens. importance. And here is the answer to the surrounding question:
When circularity? -> “When it matters most.”
“What is important is not the mother of all inventions, but the grandfather of all changes.”
Big changes like Bitcoin are advancements that spread across memetic communities.
They start out slow, but as they get bigger due to their size and the destruction of the old guards, they start to run faster.
And this is what we are in the middle of today:
The fiat experiment is collapsing, and the need to use Bitcoin as a storage vehicle, a payment method and at some point accounting for money, are all accelerating and turning.
When you look at today’s economy and the money it relies on, you realize that you can no longer:
- Accurately measure your performance or profit in the market
- Save or save the sale of your work or the price found in the market
- Free or voluntary exchange of labor or market value
Money is no longer “money” in the true sense of the word. It has been, as Stephanie Kelton would say it; Just a “point”.
It’s been meaningless, literally, pointless, pointless what one team can do to the detriment of all other players in the game. And who are the players in the game? Well, it’s all of us, our lives and nature that are limited.
This is an example of a world that does not last, like a fool who jumps off a cliff in an attempt to fly thinking that he has overcome gravity for the first few seconds as he ascends.
If we extend the time a little, we will find that the gravity is increasing. They all the time they are holding.
Another example is the whole KYC/AML building, with silly innovations like “Travel Law.”
Money exists so that two parties who do not know each other can exchange their time and labor, for things that each has more or less interest in. “Knowing your customer” actually goes against the raison d’être of all investment and the amount of money it should bring to business success.
Just imagine everything Among the damages that go to:
- Unnecessary follow up
- Get to know all your customers
- Reporting of non-compliance with AML
- Permission and rules
- Bureaucratic negotiations and lobbying
Just imagine how much more productive we all would be and how much we could save and distribute in profitable ways if we weren’t forced to play this game. And to add insult to injury, consider the level of privacy for all the “customers” involved. Check out these two crazy companies in Australia, less than a week ago:
Payments and financial privacy will no living well under the current system. They will only get worse.
Money will no protected under the existing regime. They will continue to evaporate.
This is why the importance of Bitcoin as the basis of a new financial and payment network is only increasing, as well as the size of its circulation.
There Is No Other Way.
It will be managed in the same way as the existing fiat system, as a zero to one currency exchange that Bitcoin represents.
One of the most important aspects of Bitcoin and, for many, compelling and inconsistent, especially in terms of its status or the amount received and paid.
Bitcoin is fundamentally different from anything else out there and that’s the reason circular. Bitcoin can only flow on the Bitcoin Network. Any bitcoin that seems to fit into a legacy system or perhaps even a “crypto network” is bitcoin paper.
Bitcoin is well known on the Bitcoin network, and vice versa: the Bitcoin network is useful only if bitcoin can be transferred there. Bitcoin can only be on the Bitcoin network.
What cycles can you apply for? This is not an interactive shitcoin, or an exchange a la FTX or BlockFi, or a digital database with points. This is a very different beast that few people understand, especially those who are arrogant or foolish enough to think that they are bigger or more important than Bitcoin itself.
Bitcoin is as different from all other forms of payment and money as the internet is to the flag system invented by Genghis Khan almost 1,000 years ago.
It’s a complete paradigm shift. I’m discovering and discovering zero-to-one.
Zero to One
It is worth noting that the transition from zero to one does not seem like “improvements” in the beginning, especially in the case of networks. It is very different and requires input and energy from the participants, similar to the activation energy in the chemical process. But when new “resources” appear, and different participants find themselves “motivated” enough to change (when needed), the movement becomes easier, achieves mass and growth, and we look back and wonder how we lived without it.
This is how we will all look back on Bitcoin decades from now.
Future generations who have the freedom to change the world, instantly and securely with money that is permanent and indestructible will look back on this period of fiat history and wonder how others could have been so stupid to think of Stephanie Kelton’s economy, where 2 + 2 = 435, that’s it.
In the same way that we now take things like electricity for granted, or the internet, or Uber or social media, in this case, we will also take Bitcoin for granted. People laughed at the early pioneers of electricity, whether it was Nikola Tesla, George Westinghouse or Thomas Edison. They could not understand what we would want to use this secret power from God, except, perhaps, lighting.
The Internet was the same. The “great thinkers” of the time could not think beyond the advanced video and audio medium. Some saw the potential of online shopping, but it only took about two decades.
I could go on, but I think you get the point.
Finally, in order to understand the circulation of Bitcoin, you need to look at the performance of Bitcoin, through the lens of demand and time, and you need to hear about the inconsistencies or paradigmatic changes that occur with zero-to-one types of gains. or new (Bitcoin being a mixture of both).
Bitcoin wins in the end because it has time on its side. Bitcoin is where the puck is going.
The legacy system is lost because it is fighting a losing battle against entropy, and any movement that tries to save itself is only killing itself. The order of succession is where the puck was.
It’s over for fiat. It will only take what seems like a long time for any one person, but which is a very short time for development.
What a time to be alive.
This is a guest post by Aleks Svetski, author of “The UnCommunist Manifesto” and founder of The Bitcoin Times. The opinions expressed are their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.