The complete title for this post should be
Bitcoin adoption comes from a place of crisis - it is an imperfect solution for an imperfect world...
But I ran out of characters.
There are a number of posts about Bitcoin 'adoption' and 'why we stack' and why we 'save in Bitcoin' etc... but I wanted to provide a different perspective based on my personal experience and thoughts.
Bitcoin adoption is individual to individual and comes from a place of crisis I believe... and while Bitcoin isn't perfect it is the best, least-imperfect solution to having transparent, global money available for anyone motivated enough to get involved.
At some point in my life I realized...
- What am I saving for?
- What am I working hard for?
- Why should I give up time with family, to work hard and...
If I'm being rewarded with "money" to work hard, with the limited number of heartbeats available to each of us - 'heartbeats and time being our most valuable resource that we trade away...'
- How is this money created?
- How "hard" is it to make after all?
- And if 'the money' can be created so "easily" (remember that there is an infinite amount of money at the Federal Reserve) then why should I work so hard for it?
I mean shouldn't this be fundamental?
Why work hard for something that can be created so easily out of "thin air"? Is any energy required to make this money? And who decides when it's made and how much of it should exist?
No-one seems to have a good answer for that...
And yet, currencies worldwide have been hugely devalued over the last several years and "rich people" (from popular culture) DO NOT save in them. It's not that prices have "gone up" so much as currencies have 'lost value' relative to those same goods and services they're exchanged for...
And "wealthy people" DO NOT save in currencies it's a complete and total joke ("We call them poor" he says.) They, wealthy people, save in real estate, stocks, precious metals (maybe) and most importantly 'property' globally in areas that are scarce and desirable. "Inflation-resistant" assets in places where people want to be.
Where people want to be, using things people want, in scarce quantities that savers "bid up" over time...
Does that sound familiar to you?
In our current 'meta', apparent to anyone paying attention:
-
Interest rates, the 'price' of money can be manipulated by governments on a whim.
-
To 'provide' for the economy... while simultaneously running record deficits at the highest debt-to-GDP levels since the 1940s...
-
That no-one wants to talk about it.
-
With no-one, relatively speaking, wanting to debate the debt or inflation to follow or how it's borrowing from future generations without consent.
And the United States just had a major national election and this (debts and deficits) was rarely discussed.
To be clear I am NOT anti-government. Government is needed to build the bridges, build the roads, maintain an army, enforce certain regulations, and play the role of a 'referee' where no other organization can. Government can and should, in my opinion, do things that the private sector cannot... but of course there are limits.
And in my opinion the current meta of unchecked, total governmental monopoly over money is a complete, unmitigated disaster.
And it's why Americans are so pissed off.
-
Imagine if the postal service were the only logistical offering, prohibiting the existence of Fedex, UPS, DHL or many other private companies and their services...
-
And that the federal government tried to recreate Amazon or Uber or SpaceX... not tolerating any private sector competition. It would be a total, complete disaster and it is in monetary terms.
Almost all economists acknowledge the danger of monopolies - reducing the qualities of goods and services to consumers, limiting their choices and options... and yet, somehow Money the most universal good and medium of exchange SHOULDN'T HAVE COMPETITION? It should be a Complete Governmental Monopoly?
The point I'm making is that understanding Bitcoin the Money - money independent of and uncensored by the Sate - doesn't come from a happy, quiet, soft, and easy place. It's the by-product of crisis, challenge, adversity, and growth.
Bitcoin, after all, initiated during the 2008 financial crisis... in order to provide an alternative to Central Banking.
The night shift, that takes time away from friends and family:
-
In the cold or dreadful weather
-
When you're tired and the work just has to get done...
-
Around heavy equipment and machinery, for which you are responsible
-
At high latitudes or low ones, where each day is a little different and your skills and preparation come at a premium...
-
The Debanked or Underbanked denizens looking for a way to save amidst the hyper-inflation of their native currency... https://hrf.org/btc/
-
The Human Rights or Internet Freedom Group, de-banked from the 'traditional' financial system due their values and rejection of 'big tech' https://youtu.be/RV4Br4anIkw?si=kwSETvMcF0_-o7ZV
When Humans face challenge and adversity, requiring their skills and focus - money that cannot be confiscated, globally liquid and a by-product of energy takes on a big premium.
But without this challenge and adversity... the fundamental questions of 'what is money' and 'why is Bitcoin better money' never get asked.
In my opinion, challenge and adversity drive Humans to Bitcoin, and to the extent that people adopt or don't adopt Bitcoin specifically, that's the first place we should look to.