We’re around the USD 100,000 mark, and many promises are made in this context as newbies enter our beautiful, clunky, and anarchic system that allows us to escape the overlapped monopoly of monetary policy. A few days ago, I had a conversation with a friend who came to me excited with ideas about trading, crypto, web3, and a very long list of things we could do to make the world a better place.
Forgive me for not being too optimistic about these things. While I deeply admire people who build new projects in search of innovation, there are things that have been overhyped by the unnecessary noise of nascent marketing on social media.
With Donald Trump at the forefront and his promises of creating strategic reserves, people focused on their portfolios but forgot Bitcoin’s purpose and what it truly serves. So, to bring everyone back to the same page, I sent my friend a two-slide presentation accompanied by a three-minute audio clip.
In that same audio, I told him (more or less in these words) the following:
Let me explain this quickly:
- Bitcoin can’t make your life better because doing so would require a change on your part, which, whether or not you own satoshis, has nothing to do with money.
- Bitcoin doesn’t help you evade taxes. A well-known saying goes: nothing is certain except death and taxes. As long as there is a government institution, there will always be taxes, and Bitcoin won’t destroy that social relationship regardless of what name it’s given.
- Bitcoin doesn’t prevent cancer. It might help you raise money for treatment, but that’s about it.
- Bitcoin doesn’t destroy banks. Let’s recall Satoshi Nakamoto’s words in the original whitepaper, where at no point is the destruction of anything proposed—it simply offers a viable alternative to no longer depend on institutions. In fact, today, we have banks exposing their clients to Bitcoin and other cryptocurrencies.
- Bitcoin doesn’t make you (bi)millionaire. Ironically, Bitcoin’s function to protect us from inflation through its salability in time and space makes our money “worth more,” but it’s not because we’ve earned interest—it’s because other currencies lose value relative to Bitcoin.
- Bitcoin won’t create strong governments. Let’s assume the U.S. enacts some reform and turns Bitcoin into a “strategic reserve.” The problem has never been the money; it’s the institutions that have destroyed monetary policies over time.
- Bitcoin doesn’t overthrow governments. Governments overthrow themselves. We, with our self-custodied satoshis, watch from a privileged balcony as those who continue playing with an obsolete system—which we’ve pointed out countless times—called us crazy. Now that we’re protected, the government says inflation has a multi-systemic cause and that it’s not entirely their fault.
- Bitcoin doesn’t prevent wars. In fact, during wars, it’s often better to pay with Bitcoin, as demonstrated in Ukraine, where Bitcoiners, shitcoiners, and others raised funds for weapons. Bitcoin is money that can be used in war and peace alike. It’s a protocol/money that doesn’t distinguish between the two.
NOW THEN...
What can we do with Bitcoin?
First, let’s understand that the main role of miners, nodes, traders, friends, and foes is to safeguard two things:
- That there is never double-spending. The Byzantine Generals’ Problem was cleverly solved by Nakamoto, ensuring that everyone has access to the same information.
- That there will only ever be 21,000,000 bitcoins. Each of us constantly monitors this rule to ensure it holds true.
With this certainty, we can start building our future as doctors, engineers, writers, musicians, and so on. We no longer need to worry about whether our money will lose value because Bitcoin, supported by all hard (and soft) sciences, allows for a robust, transparent, and auditable system accessible to anyone with doubts.
By using Bitcoin, you’ve defeated monetary uncertainty. The rest—whether you choose to support animals, North Korea, build shelters, or fight cancer—is entirely in your hands.
Don’t forget to always smile, support others, and save your satoshis.
ifyou put it sir. In the short and medium term, it won't.Footnotes
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