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Congratulations on finding your way to Bitcoin....so now what you ask....it looks like more of the same old FIAT world of "whacky" people with lots of Bitcoin doing the same shit humans do with FIAT paper money? Am I right?
  • Hold on!
It might appear to be this way when you first scratch the surface but PLEASE, I implore you to take a deeper look.
It is just amazing to me when I sit down and try to fully understand and grasp the true depth of the debt (including the unfunded) in just the USA and then I look at this chart and find myself wondering what the "unfunded" debt of other countries is as well...It is frankly impossible to fully grasp the amount of hurt, and pain this is likely to cause.....
It is truly "panic" inducing right now and shit hasn't even gotten real, err... at least not in my neck of the woods....
But then I start thinking about Bitcoin and I panic some more and think, "we can't let this get fucked up too!"
So here is a brief-ish take on the future of Bitcoin as it pertains to you...the Bitcoiner :)
I believe that of the most beautiful aspects of Bitcoin is in its "chameleon" like properties - Bitcoin is many things to many people...and to many that are coming in new to this system - it is likely the last filament of a string that is part of a rope connected to life ring of HOPE, that is attached to a life raft which holds the promise of a large ship that is docked in a land where its inhabitants are LIVING a life of ABUNDANCE, in a world that is being transformed at its base layer. This BITCOIN future is beautiful and plentiful as humanity slowly re-learns and re-connects with the universe as it is, at its foundational layer or lowest common denominator as we currently know it.
(They say history or historical events tend to rhyme...and this feels like it is rhyming a bit with the old "good vs. evil" ideals of historical religion-based civilizations , but I am not so convinced that would be accurate - I tend to believe that this Bitcoin thing is simply more aligned with, or better represents a closer alignment with the laws of the universe.)
Ok, still with me...
Our current world, has literally been built upon a base of FEAR and GREED within a system that steals the value of its future through the printing and/or manipulation of the monetary system. These systems have been proven time and time again to eventually lead to failure. Again, our current system of communicating value to one another is broken (you know it and feel it), you might not know how to describe it but I assure you that the more you explore it and learn about it, the easier it gets to understand.
Let me say it like this....
A system that is as complex as our current financial system - is inherently inefficient (at best) and (likely worse) has been subjected to manipulation by those in control of it as a means to ensure they have the best and most efficient access to it. Bitcoin fixes this. Let me say that again....Bitcoin fixes this...HARD STOP.
It is simply a rule of nature that complex systems have a tendency to succeed when they are based of simple rules...think about any large system you can...they all work well, when their underlying needs are taken care of and provided to them in a simple and repeatable manner. Now think about how our "global financial system" that is based upon somewhere around 160 different "monies or currencies" is going to work.... Sure it has kind of worked for humanity up to this point? Maybe...tell that to any great civilization of the past that fell into chaos and fighting and that literally imploded due to (in part) the manipulation of their monetary system? Or how they were not able to accurately track and record their financial records due to the limitations of written records?
Bitcoin is the purest, most accurate, most unable to be manipulated base layer of a value communication system ever utilized.
Read that sentence again and again and again.... It cannot be manipulated, it cannot be controlled, and the world is waking up to these two facts of this value communication system. So long as (as Jeff Booth says) it remains decentralized and secure, Bitcoin will continue overwriting the base layer of the Global financial system.
This is where we (Bitcoiners) come in... It is simply up to us to keep it this way... we need to get base layer Bitcoin into the hands of as many of us as possible...we need to incentivize everyone to utilize this technology in the quickest way we can. We need to ensure that everyone has the tools to obtain and maintain their self-custody for as long as humanly possible...
Look, I am by no means an expert in the financial system's inner workings...I don't have any fancy degree's from any school's - shit I dropped out of high school and got my HSED - but what I do know, is that the FIAT system is broken around the world (the USA based system was the best thing we had for the last century or so - even though it was basically shoved down the world's throat) but we have entered the event horizon... There is no going back, fixing something, adjusting what is or isn't used in some calculation....there is only one option (if we all want to continue living life as we know it cuz we could blow ourselves off the face of the planet) We have to adopt and adapt to the new base layer of communicating value to each other...Bitcoin. It isn't going to save us overnight (though it could happen quicker than we think) and sure there is likely going to be pain and suffering....but it will be ok in the end. In fact, I believe we (as the human race) will come out on the other side of this stronger and more productive than ever.
Just my two sats :) Thanks for reading...please let me know what you think...cuz I kind of think I am crazy!
I think of this often when the soft fork debates come around, like yes I know we need scaling if we are going to distribute the coins to enough people in a manner where they have more control, but you also don't want to risk stuffing things up, and with a system like this, we don't know how changes can affect things down the line
I don't think many maxis saw the inscriptions thing coming and how its caused its own issues and I think that's made the case for slow and steady changes even more apparent for the people in the back, who want to see Bitcoin as the base monetary system.
It needs to depart the niche its been in of speculation and magic internet money and move into something people use as a measurement of economic value like other established assets. I've realised that despite btc being verifiable, very few will do it, the majority will rely on trust and trust comes with time.
I believe as Bitcoin brings wealth to people who would have otherwise missed out on it, they get to bring their ideas into the world, they get to start businesses, improve their lives, and these peoples success stories will prove be examples that bring more people in to trust it a means of wealth preservation
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I am in the boat of thinking about it often as well... The scaling thing is difficult for sure, I certainly don't know enough about the network but I kind of think that this idea out how many sats ones needs to have a spendable UTXO maybe goes away once everything is priced in sats? I mean - (and this is likely a long time away yet) if everything is priced in sats, then operating the network could almost be automated to an AI or something? Again as the pricing of everything falls to its "actual cost of production" the cost of generating electricity, running nodes large enough to hold the entire timechain, etc...is all really maintenance? The most expensive part will be maintaining the code and upgrading it to ensure it is operable on whatever our current tech is at the time? I would think this falls to literally sats or an even smaller unit of bitcoin....???
I don't know - it seems to me nature works in these cycles of inflation and deflation, or give and take and like Bitcoin will inflate in price (as compared to FIAT) and at some point when we basically end the FIAT system everything can then fall in Bitcoin or Satoshi price?
Does that make any sense?
Sorry kind of got off on a tangent...
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I think I get what you're trying to say if we;re on a bitcoin standard and deflation continues to compound those smaller transactions will be valuable in real terms and sure that could be a possibility
But even if everything is priced in sats the network itself will price out certain transactions based on the fees, no sense in making transactions where the fees eats away your entire transaction and leaves you with dust as change,
In that world we would be competing with the entire world for block space so it likely won't come cheap even if you are willing to wait
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I guess we have to get to that future first :) I think we will find the market dictating value a whole lot more accurately... things that are important and basic needs will be the least valuable (this might include electricity, shelter, water, basic foods, health care....) and things that are more "wants" will be more valuable (appliances, specialized robots, art, certain tools...) who knows really...but my guess would be the electricity, compute, information/data will be among the least expensive at that point....
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Our current world, has literally been built upon a base of FEAR and GREED within a system that steals the value of its future through the printing and/or manipulation of the monetary system.
That's What actually fuckin' eating this world out. We actually have the opportunity a window, a door to get out of that Fear/greed. But, Alas! Many people falling prey of that shit ETFs isn't a good signal at all.
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Wow! Much wow! This is the best post post I've read ever about Bitcoin. In everything you say, you truly present value. Thanks
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Thanks - you are very kind - I just hope to help as many people as I can find and utilize Bitcoin to help ensure its success...
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Gradually then suddenly... if we all do our part.
Come for NGU, stay (WORK) for the freedom.
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The more you learn the better Bitcoin gets! Spend time and
STUDY BITCOIN
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I feel like this anon could be @DarthCoin
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Bitcoin is the purest, most accurate, most unable to be manipulated base layer of a value communication system ever utilized.
I would be careful with this claim. Certain aspects of bitcoin can and are frequently manipulated...namely the price. Whales can manipulate the price all day long. Buy $1 billion in BTC, sell $1 billion in BTC, the price gets thrown around like a pitbull shaking a chew toy. Normies get their panties knotted in a twist when the price drops 50% in a day or two. Grizzled veteran hodlers see a buying opp.
We have seen ordinal jockeys manipulate the tx fee dramatically. Look at the sat/vB on block 840005 as a recent example.
China banning mining caused a huge (temporary) drop in hashrate.
ETFs and big exchanges like Coinbase building up huge reserves of Bitcoin could re-hypothecate and cause pricing distortions....and so on.