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People don't understand #Bitcoin
because our financial system is so complicated.
Our financial system is so complicated because it doesn't make sense:
People don't understand #Bitcoin
because our financial system is so complicated. Our financial system is so complicated because it doesn't make sense:
We are simultaneously told that we live in a capitalist society run by free market principles - and that we need central banks and politicians to manipulate markets, interest rates, and the money supply.
Central banks/governments want both: to harness the power of the free market AND the power to control the free market.
That kind of power is obviously tempting. It is, for example, the power to advert a crisis by printing lots of money and bailing out Wall Street.
That kind of power is obviously tempting. It is, for example, the power to advert a crisis by printing lots of money and bailing out Wall Street.
Which is the power to kick the can down the road. Something we all do in life. Facing reality is tough.
But it's also necessary. Because things always turn out worse if you don't face the truth:
But it's also necessary. Because things always turn out worse if you don't face the truth:
Printing money creates inflation. And Inflation steals money from the poor: and gives it to the rich (people who own scarce assets like houses see their assests rise vs. dollars)
Kicking the can down the road also means not owning the consequences of bad behaviour:
Kicking the can down the road also means not owning the consequences of bad behaviour:
Which incentivizes reckless behaviour, bad investments and lies. It creates "too big to fail" and a myriad of other problems that emerge when a complicated system is tampered with.
It's like building a dam to help nature. You help the crops and kill everything else. You kill things you didn't even think you would be killing.
Nature works best if you leave it alone. It's hubris to think otherwise.
Nature works best if you leave it alone. It's hubris to think otherwise.
Bitcoin fixes this. It is the single most revolutionary technology on the planet at the moment and deceptively simple: There are only 21 Million Bitcoins. No one controls the network. But everyone has access. You can't be banned. There are no gate-keepers.
Sounds simple enough, but until now, nothing like this has ever existed.
The way I see it, one of two things are going to happen:
Nations will find a way to kill bitcoin. They will attack bitcoin mining facilities all over the globe. They will ban bitcoin and punish owners.
The way I see it, one of two things are going to happen:
Nations will find a way to kill bitcoin. They will attack bitcoin mining facilities all over the globe. They will ban bitcoin and punish owners.
In other words, they will enact the most comprehensive and brutal attack on personal freedom the human race has ever seen. A coordinated global attack. The very first of it's kind.
That's one option.
The other is:
That's one option.
The other is:
Russia, China, USA, Iran, etc. cannot agree on anything and don't trust each other.
So an arms race begings.
Nations start buying #Bitcoin. (Institutions already are.)
And we enter a new paradigm.
So an arms race begings.
Nations start buying #Bitcoin
. (Institutions already are.)And we enter a new paradigm.
We have the social network (facebook), the knowledge network (wikipedia), the search engine (google), and the global monetary network( #bitcoin ).
).
Thank you loads to all the usual suspects for all the food for thought, it's helps my thinking to put these concepts in my own words, none of these ideas are my own @saifedean, @Breedlove22, @dergigi, @michael_saylor, @Bquittem
