How Bitcoin Fixes the Money, Saves the World
By Kathi on Sep 16, 2021 | 04:36 AM IST
Two things are undeniable: We are living in times of
massive change, and Bitcoin is a part of it.
We are living in times of massive change, a “fourth
turning.” The book “The Fourth Turning” by Strauss and Howe covers centuries of
history and shows that demographics and other factors lead to massive change in
societies every 100 years or so.
Generations change distinctly: the ’60s were different from
the ’50s and the ’80s. But a fourth turning is a different level of change. If
history is any indication, in this fourth turning we will see changes in maps,
society, religion, belief systems and we may see the very nature of economics
and money itself change.
Bitcoin came into the world at the right time. Any earlier,
and Bitcoin could not have practically been used due to internet usage rates.
It is interesting that Bitcoin is here just as the global economy faces such
massive change to the old-school fiat system that has been running for the last
half century and driving our world into the ground. The old fiat system is
unsustainable. Bitcoin presents the ultimate hedge against the failed monetary
policies of central banks.
It’s key to remember that central banks don't just devalue
the money of citizens, their very existence causes some of the greatest evils
that we see in modern society. In a world of sound money, people would value
their hard-earned coins more. People would also have custody and control over
their own money. If politicians had to convince people to voluntarily pay for
wars, for-profit prisons, and heavy regulations. citizens would exercise much
more scrutiny over where their money is spent.
Whether you believe the narrative of bitcoin as better
money or not doesn't matter. It would be hard to deny that we are in a fourth
turning right now. The last year and a half have seen some of the most dramatic
change that people have seen in the last 50 years or more. So, there is no
question that we are in times of massive change. The only question is what role
Bitcoin will play in this.
Bitcoin has been around for 12 years now and has created
wealth and built an entire industry around itself. Bitcoin is now held by tens
of millions of people and has become a global phenomenon. Bitcoin is on the
radar of everyone in the world, from the poorest to the richest, from the
vaunted halls of power to the streetside corner store.
We will never know how Bitcoin would've done without the
extraordinary economic events of the last several years. The massive spending
which began more than 20 years ago and started reaching unsustainable levels
around 2008 with government bailouts has been thought to be unsustainable by
many for several years. This last year we have seen more money printing than
what we've seen ever before in history.
This massive money printing increases Bitcoin's appeal.
Bitcoin is a more major part of the global financial system than most realize.
This is not reflected in the market capitalization right now. Bitcoin is still
smaller than Apple, but its impact, importance and its message is much greater.
We have a country adopting bitcoin as legal tender. We see major banks and
brokerages offering bitcoin exposure and bitcoin-related products. We have an
entire industry with varying degrees of quality which has cropped up around and
adjacent to Bitcoin.
When you think about Bitcoin relative to the current world
and the backdrop of the weaknesses in the central banking system, it's not so
lofty to say that Bitcoin just might save humanity. Remember that the problem
with central banking only begins at the debasement of the money of the people.
The true problem is that it centralizes power and creates these massive money
honeypots which contractors vie for. The Afghanistan war alone cost taxpayers —
specifically children who will be paying this debt for years — $2 trillion. The
most effective way for government contractors to receive handouts in the
deca-billion range is to promote fear. So, now we have companies that have a
vested interest in promoting fear so that taxpayers will support giving their
own money back to those companies. This is the end of an empire with broken
thinking — it leads to death and it’s evil. And Bitcoin fixes this.
There is so much broken in the current system that it is
very difficult to fight. An alternative way to fight is through peaceful use of
another form of money. If you deny the politicians their money, then you deny
the tyrants their money. Money of the people is more peaceful. Money of the
people is free of coercion. It’s voluntary. It can be one of the most
meaningful revolutions the world has ever seen without anyone needing to fire a
shot.
The good news is that we have Bitcoin. The good news is
that we can see light at the end of the tunnel. We can starve the beast of war
and aggression which is fueled by fake fiat money printing processes. We can
build a society based on voluntary exchange of trade and with the foundation of
solid, sound money. The kind of money people measure wealth in. Like gold of
centuries past. Sound money inspires savings, it inspires wise investment, it
inspires people to avoid risks and it fosters innovation.
Some fourth turnings see even more significant epoch shifts
in the world, such as the creation of the printing press. The technological
revolution that we are in right now and that Bitcoin is a central part of will
see our global economic system and monetary systems radically change.
Overall, this change will be for the better. Just as we saw
a separation of church and state centuries ago, we can see a just separation of
money and state today. People using voluntary decentralized money would be a
freer people and centralized powers will have their significance reduced.
The old saying "money is the root of all evil" is
wrong. Indeed, this is an easy mistake to make — for money and economics has
been at the center of much of our world struggle. Great evils such as slavery,
wars and great things like trading routes, art, languages and culture have all
been influenced by money. Money has been one of the most crucial tools for the
growth of humanity. Money is a way for people to share value based on goods and
services provided to them.
We cannot only reduce the power of tyrants and evil, we can
increase the power of the people with sound money. Fix the money, fix the
world.