As I'm slowly orange-pilling my family members with holiday gifts of bitcoin (and instructions to simply leave it alone), I did a little digging with my day off and mapped out monetary systems that my family has been exposed to. This explains why even my mother can't absorb bitcoin--many people in my own generation don't even understand it, let along the monetary systems that preceded it. Things are stacking faster and my daughter is going to have to learn to spot the truth among the noise. A detailed write-up follows:
50 sats \ 0 replies \ @elvismercury 12 Nov 2023
The point you make in this one is related in my mind to something I was poking at here -- on how different things feel to different people, based on the conceptual primitives they have available, which are in turn a function of experience.
Some primitives amount to human universals (e.g., we live in a physical universe and share our experience with its affordances) but for things that are purely abstract, different groups, or different generations, will have very different fundamentals to work with. Your article is a great exploration of some of that. Credit means something else to your mother vs you.
This is the best (and maybe the only) thing I've read on this idea and am excited to now have something to link to when I want to talk about it.
reply
10 sats \ 1 reply \ @birdeye21 5 Sep 2023
Great read! You spelled out the debt problem clearly, and i totally agree with your suggestion that speed is the danger here. It certainly feels like we're entering a new paradigm faster than we can comprehend.
But from the chart, is this suggesting that BTC will eventually be overshadowed by CBDCs and UBI? Not sure how you're seeing it playing out
reply
0 sats \ 0 replies \ @antic OP 5 Sep 2023
Like all prior paradigms, bitcoin is forever, just as gold, fiat, debt, and expansion will remain. It will be up to each person to choose which modalities they subscribe to (and have the cognitive capacity to grok). I don't think the age of bitcoin has even really started yet--we are still very early. With the parabolic stacking of new technologies, we will see multiple standards start to be simultaneously used. In my case, I'm using bitcoin as a store of value, and credit/fiat as a form of spend. I don't see these going away, but as CBDCs are introduced, it will be a challenge to avoid control.
reply