I just want to remind you all that are on the fence that bitcoin is still the future. I've been in the space for a long time. Working in financial technology, I see first hand the inefficiencies and security risks of the current system. No matter how bad you think the current system is, it's worse.
When I started bitcoin I believed in the technology because I could see the code and understood how it functioned. It was an obvious innovation that should have taken off far faster than it has in my mind. Ultimately, I lost faith in this society. I didn't believe in the people -- the common people -- and their ability to understand what freedom looks like. I made a lot of money with it, but when Mt. Gox happened, I thought that greed bred ignorance, and ignorance would kill our revolution.
But we are still here. I've been watching for a long time, and I've been waiting for the great corruption of our leaders to kill this. Yet...it's still here. I was expecting th e internet to shut down, for crypto to be outlawed, for massive censorship to take over, for mandatory backdoors bypassing all crypto, yet none of that happened.
I don't claim to be smart socially, I just know code. I've been very happy that I'm wrong.
Our governments have become irrelevant with the advent of cryptocurrencies and their survival. While people are bickering about trivial political action from powerless governmental institutions built upon blood and corruption, we have a trustless mechanism of exchange without intermediaries. That still hasn't sunk in. We are still in the beginning.
Bitcoin isn't gold. Gold is not a scarce resource. There is an infinite amount of gold in this universe. Stop thinking globally and start thinking universally. We will find asteroids made of gold, planets with gold cores, nebulas with particulate gold spanning lightyears. Do you know how many bitcoin we will find in the universe? 21 million. There is no material substance we can state that with. Not a single one. Do not make such a dumb comparison.
Any material comparison people make against bitcoin is a bad one, but don't you see? We are all cursed with tradition. We'll catch up eventually, but for most, it'll be too late. I don't care about bitcoin so that I can later sell it. I care about it because no one can stand between me and you when we make an exchange. No one can fake the currency or "correct" it when it goes wrong. There are no bailouts, there are no human decision making that impact the integrity of the system.
You think this is sci-fi still. You think this is delusion. Riches are always delusion before they materialize. The current "value" of bitcoin, measured against the fun-money (aka US Dollars, Euros, etc.) of the world, is the true delusion. When the people that horde the fun-money and manipulate it to their liking jump ship from that sinking vessel, with countless trillions most of us can't compreh end, we won't be measuring bitcoin in terms of cash but in terms of castles.
Bitcoin unlocks the world.
No matter what innovations unfold in this space, no matter how many "bitcoin killers" people generate, it will never take the historical and revolutionary seat of bitcoin. It is strong in its simplicity. It is the first and it works. We may not use it in the distant future, but it will always be one of the scarcest, widely distributed currencies in the universe. Nothing can ever change that. The game theory that makes it work has been proven stable.
The energy expended to power the network is not a waste. It will drive more efficient generation of energy as time increases. Funds will be expended to improve our power grid, to improve our distribution of compute power, to distribute and increase internet bandwidth, to improve chip manufacturing. It is evolution applied to computation, infrastructure, and digital security. Any attempts to change the game theory from proof of work is a fraud. Crypto is similar to a sovereign nation; people who understand it are trying to become kings. Do not trust it.
Light takes about 13 light minutes to travel to Mars. Bitcoin will still be relevant even when we travel to Mars, and we will be able to set up massive mining networks there. When SpaceX builds rockets that can transport us there to colonize and build industry without any environmental regulation, and with 1/3 the gravity of Earth so that all actions take less energy, I will be able to buy industrial materials from Martian industry using bitcoin.
I do not care about this so that I can trade it for money. When the reaches of space open up to us and the traditional sovereign currencies have collapsed, I care about it so I can be one of the people to buy a seat on the interplanetary spaceships going to Mars and beyond. When the infinite abundance of space is available to us and material is measured in its cost of tran sportation vs distance & time, I care about it so I can be one of the 21 million to put a deposit on an immortal body.
While people still think in dollars, I will continue thinking in these terms, as I have since the beginning. This isn't economics, this is finally physics manifesting in our mechanisms of exchange. Our first pure capitalism.
This is part of the human story towards our next intelligence singularity.
What exciting times.
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