Bitcoin was the trailblazer in the crypto world. Adored by many, it's time to see that it has lost its innovative edge and connection to its founding principles.
Today, Bitcoin stands as a staple investment tool. However, it should not be the focal point of decentralized finance!
Though Bitcoin paved the way for the acceptance of cryptocurrencies, it's veering off course from early enthusiasts' vision, transforming into a lucrative pursuit for Wall Street and similar institutions.
The dreams of decentralized empowerment, which inspired Bitcoin's earliest supporters, have dissipated into sheer avarice. The crypto market has become a game of liquidity reliant on the fiat currencies Bitcoin once aimed to replace.
We must surpass fixation on Bitcoin and seek innovative avenues to truly harness decentralization.
Meeting Mr. Mammon
Our message is not one of self-imposed scarcity. Quite the opposite.
The notion that financial wealth is detrimental is paradoxical, yet it holds water. As a reminder, money itself is devoid of intrinsic value. It serves as a representation of truly valuable societal resources.
Don’t believe us?
Silly!
Consider Argentina, for instance. A country that could rank among the wealthiest globally, yet money's influence has rendered it otherwise.
On my initial visit to Buenos Aires, a pristine $100 USD bill would exchange for 330 Argentine Pesos. In contrast, today, that same amount fetches around 120,000 Pesos.
We aren’t that old!
Argentina's financial saga, from an academic standpoint, is almost comical, unused to such inflation reminiscent of defunct dot-com stocks. Sadly, as we’ll discuss further, currencies and cryptos aren't mere stocks.
From a street-level perspective, the ongoing hyperinflation in Argentina is a devastating tragedy, trapping citizens in an unsustainable monetary system that erodes their livelihoods.
Bad money is dangerous.
Imagine having to survive and toil in Argentina. Earnings and savings are bound to the local currency. Legal systems prohibit foreign currency utilization, and acquiring gold is unattainable.
You are stuck.
Admittedly, the higher the digits on your paycheck each year, the more zeros accumulate.
It seems paradoxical—you gain the title of millionaire. Unfortunately, street prices skyrocket even faster, diminishing your financial standing year by year.
Utilizing a finite currency could dampen the hardships depicted. However, Bitcoin is no longer serving as currency—it's transformed into an asset.
The Liquidity Gate
Bitcoin remains a key influencer in the crypto market, now acting as a beta gauge of worldwide market risks!
The dilemma now shifts to the trajectory of cryptos. It’s clear they’ve become the next lucrative financial assets. This evolution introduces two formidable challenges, each difficult to surmount.
First off, cryptocurrencies won't transition to money anytime soon. Additionally, the traditional financial ecosystem dictates the liquidity of the crypto market, rendering cryptos intertwined with conventional systems.
No rational thinker ever genuinely believed Bitcoin would topple the entrenched global financial structure. Never was it a technical threat to centralization. Yet, the concept of Bitcoin challenged the centralized monetary status quo.
With cryptocurrencies evolving into assets, the initial vision of decentralized freedom fades. Presently, cryptos largely serve to generate more fiat currency. The Bitcoin beta predicament falsely paints cryptos as the riskiest asset category worldwide.
We think the opposite is true.
Rethinking Value
As a species advancing forward, reevaluating the construct of value at a systemic scale is crucial.
Regrettably, we’re edging towards a global economy driven by central planning. While Trump and DOGE challenge the long-established power structure, Elon Musk emerges as a potential global technocratic leader.
Don’t misinterpret our stance—we hold no animosity towards Trump or Musk.
At some point, the system would have produced figures like them regardless. Whether it's Trump, Musk—or the scenario unfolds in 2025—is immaterial.
Our current framework prizes wealth (in monetary terms) over productive capital. In our fast-paced digital world obsessed with social media, the foundational activities remain hidden, while extravagant lifestyles fill our screens.
Here's a concise video clarifying these conceptual shifts:
In simplest terms—money doesn't equate to wealth.
True wealth derives from collective cooperation and shared societal values. Hence, money in itself is a worthless commodity (even actual waste holds more utility as fertilizer).
This principle is evident in reality. Despite our affinity for Bitcoin, its value springs from the willingness of parties to exchange it for goods, services, or fiat currency—akin to gold.
Absent a community monetizing a digital token, it holds no worth. Gold follows this same logic. Neither can be consumed or provide shelter.
Social collaboration drives value—means of exchange or accounting do not.
Our societal construct breeds media-centric demagogues (e.g., Trump) and technology-obsessed autocrats (e.g., Musk) due to our collective priorities. Blaming them is misplaced—introspection is necessary.
Simply possessing honest money accomplishes nothing—especially if we don't actively implement it.
Bitcoin stands as a digital form of honest money, yet its real-world impact is limited.
To clarify, the initial wave of cryptocurrencies can never fulfill a monetary role. That possibility vanished with the pioneering Bitcoin ETF. Emerging tokens like XRP and TRON are transitioning to assets rather than monetary units.
Newer, rapid and economical transaction networks will primarily move stablecoins backed by fiat currency.
Fiat currency's alleged stability amuses us. It lacks substance. The ignorance of individuals is astounding.
Holding fiat currency over the medium or long term results in value loss for those naive enough to do so. It fails as a value store and enforces subjugation through legal tender mandates, hindering access to legitimate money.
Not to say that genuine money provides a cure-all—recall numerous historic disasters during the gold standard era. However, as witnessed with Vietnam and Nixon effectively closing the gold redemption option, perpetual warfare was not feasible—at least in Southeast Asia during that time.
Honest money was good for something!
Seeing Bitcoin Through Bitcoin
Bitcoin exhibits volatility primarily in appreciating against fiat individuals.
Admittedly, daily volatility exists in cryptos. However, they trend upwards over more extended periods.
The reasons justifying Bitcoin's inception over ten years ago retain even greater relevance today. Governments won't settle their burgeoning debts anytime soon. Global conflict persists, changing locales but never ceasing.
Presently, the globe's major economies are witnessing expenditure spikes at previously unseen levels. Remonetization appears the only exit strategy—akin to Argentina's experience.
Regrettably, Bitcoin has shifted into asset territory. While it will likely endure through forthcoming global currency restructuring, it's not poised to return as conventional money soon.
Efforts should focus on cultivating a globally aware society, recognizing decentralization's transformative power.
