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Issue #353: Bitcoin will make the world better

Nov 2, 2018
Marty's Ƀent

Issue #353: Bitcoin will make the world better

Yeah, I said it. So did our boy Misir who beautifully lays out the reasons why so many people are passionate about Bitcoin in the thread above. The pervasive unspoken, unnerving angst of the common man working to build the very consumerist system that has destroyed his ability to become a self-sustaining, independent being. For some of us who choose this weird form of masochism we call "being interested in Bitcoin", we truly believe that Bitcoin, if implemented correctly, can be a driving force of good in the world by making the creation of money much fairer. The act of changing the variable of money creation could have profound positive externalities rooted in truth.

The certainty provided by transaction ordering via Proof of Work is a base from which powerful, freedom enabling tools can be built. The first tool of which is a provably scarce, distributed money. Bitcoin is beautiful because it is a Gordian Knot of interlocking incentives, so those who choose to contribute to the system by coding, mining, buying, accepting and/or holding Bitcoin are rewarded (many have been up to this point at least) as the network grows stronger and more robust over time causing the price of Bitcoin to increase (if they decide to hold BTC in their portfolios, there are a number of advocates who do not hold BTC oddly enough). Satoshi created a system that is completely self-sustaining because incentives are aligned perfectly. As we described in this here rag last week, Bitcoin and the humans who use/profit from it are in a symbiotic relationship of flesh and technology.

The fact that Bitcoin has rewarded the humans who have kept it alive for a decade is incredibly inspiring because it means there is a glimmer of hope that we may be able to build a system outside of/parallel to the rapidly decaying system we were born into. And it's all driven by, again, perfectly aligned incentives between all of the stakeholders in the network. The beauty of a future in which Bitcoin continues to succeed will be the positive externalities that begin to emerge as Bitcoin proves to be more ethical of a monetary system than the Central Banking system that cannot stop expanding credit. There will be little room for the type of wasted capital allocation that is enabled when a bank is able to create debt out of thin air and charge an exorbitant interest rate. Gone will be the days of the free money for the banking elite which has been enabled by their proximity to the spigot of money creation.

As more people begin to realize this slowly over time, Bitcoin will continue to grow and suck in value as a black hole consumes light. And, I believe, will make society better off as a result.

Final thought...

One time, when I was 18, I snuck into a Blink 182 concert in Camden, NJ. It was one of the best concerts of my life. Enjoy your weekend, freaks.


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