Bitcoin was first unveiled in October 2008 by pseudonymous developer(s) known only as Satoshi Nakamoto. The network went live two months later with the genesis block carrying an embedded message: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”, referencing the Times of London headline that day.
This etched into immutable form the ethos of Bitcoin as being specifically opposed to the controversial practice of quantitative easing (QE) and government bank bailouts at the height of the 2008 / 2009 financial crisis.
Bitcoin questions the very foundation of our debt-based modern-day global financial system, as it teeters on the edge of crisis with record low interest rates and unprecedented negative yields on government debt. At it’s core, Bitcoin offers the individual freedom from this high-level institutional collusion, over which ordinary people otherwise have no real control.
Today, 3rd of January 2022, marks the 13th anniversary of the Bitcoin Genesis block. On the 3rd of January 2009, at 20:15 UTC, the pseudonymous creator of Bitcoin, Satoshi Nakamoto, mined the first Bitcoin block, presumably using the CPU on his own personal computer. There are many things that make this momentous occassion significant. Mining […]
Bubbles pop. And while markets may recover, bubbles certainly do not re-inflate themselves again and again. If Bitcoin is a bubble, it’s a magic bubble. Something that exists in an entirely new category unlike any other bubble we’ve ever seen before.
Thanks to the genius of Satoshi Nakamoto, all you need is an old computer and a little bit of tech savvy to have an equal say in the development of the world’s first truly global monetary network. And, perhaps for the first time in human history, everybody’s voice could be weighted equally. No matter who you are or what influence you wield, Bitcoin leveled the playing field like never before.
I suspect that the reason why some authors do not adjust their perspective is because Bitcoin challenges some of our most basic assumptions. Can human beings govern themselves, if given the right tools? Or are we by nature barely capable of surviving unless controlled by powerful authoritarian forces? Depending on your answer to those questions you may or not (knowingly or unknowingly) choose to ignore the reality of Bitcoin. To preserve the integrity of your existing belief system.
The argument that Bitcoin is too volatile is a tired argument. Do yourself a favour and take a step back. Bitcoin, a world first that was invented just over a decade ago, is being priced in a currency with more than a century of governance behind it. Which one of those two would you expect to be more volatile?
As with many things in life, people always want simple answers to questions, even when reality isn’t simple at all. Is Bitcoin bad for the environment? The simple answer is no. But the reality is far more complicated.
What kind of a person has the mental, moral and emotional fortitude to watch from the sidelines, in silence, while their invention changes the world, without taking a shred of credit or fame along the way, instead choosing to forego untold riches in exchange for the possible realization of what was, at least to begin with, little more than a fragile promise of freedom?
“Who does that?” you ask.
Satoshi did that.
Investors are increasingly waking up to the reality that their fiat cash reserves are melting ice cubes. As a result hard assets like Bitcoin are gaining traction as a hedge against inflation. However, Bitcoin isn’t just a hedge against inflation. It’s also a wedge that’s forcing open and widening the cracks in a world where true power and control is hidden behind a facade.
If you wouldn’t trust a heart surgeon who doesn’t know the difference between a ventricle and an atrium, then you shouldn’t trust Mirror Trading International (MTI)
They claim to use Bitcoin as a “base currency” and yet their publicly advertised understanding of Bitcoin is grossly lacking.
Many myths persist about Bitcoin. One of the most widely believed, yet deeply mistaken, being the idea that Bitcoin is “only-used-for-buying-things-that-are-illegal.” Because it’s anonymous. The fact of the matter, however, is that Bitcoin isn’t actually anonymous at all. The movement of individual coins can be precisely traced.
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