I speak a lot about Bitcoin. Hence my reasons for blogging here, very few people want to listen to it because it challenges a lot of narratives and disrupts fundamental thinking of how the world operates, and we have to accept that indoctrination won’t be easily broken.
This will be one of the biggest wealth transfers in the world, sadly it will consolidate very quickly, and there will be a Bitcoin 1% as we have in any financial economy. It’s just that in the Bitcoin space, they have limits to what they can do with their wealth since you can’t rely on infinite money printing to cover up bad financial decisions.
To earn capital in this space, you will need to put it to productive use in doing so benefit all Bitcoin holders, even the little guy and thanks to a little thing called deflation, even the little guy can get a growing piece of the action.
Bitcoin is a brainbuster
When I try to speak to friends and family about Bitcoin, you’ll get a few that are curious, but none are willing to stake up and get some skin in the game, and that’s fine, just means more Sats for me.
They don’t want to hear about sound monetary policy and the hardest money ever created; they want to hear about when the football starts up again or how Adele lost so much weight; you go, girl, you had your own halvening and more power to you.
Living in a world of abundance
Like it or not, we’ve lived through the greatest economic expansion the world has ever seen, and we consider this the norm; it’s amazing how quickly humans adapt and find their new normal; the coronavirus is proof of that.
Humans live in the now; they’re bad at looking back as well as looking forward, and in this world of abundance and ever-expanding everything, our minds have been engineered to think that’s the way the world works.
I think we now have to realise that abundance of everything is not normal, we need to respect scarcity and treat it accordingly, and this is the mind job that Bitcoin will do to those who accept its loving and open arms.
We need to learn to value scarcity, to live within our limits, to save for a rainy day, to make purchases of value and not of prestige and glamour. We all need to learn to be better allocators of capital; we didn’t learn this under unrestricted money printing, so perhaps with constraints, we will learn to be more frugal.
Bitcoin drives critical thinking
I think that innovation and ingenuity come from a lack of something; this is how we get the best out of society, so if there’s a lack of money, there needs to be an increase in production and deflation; it’s simple economics and mathematics at play.
It only sounds weird because we’ve never had the tools to give it a go, or rather we did under a gold standard but have long forgotten what that was like and how it works.