BITCOIN: Try and wrap your head around this paradigm shift.

Thursday, December 22, 2022

https://bitcoinmagazine.com/print/stage-is-set-for-bitcoin-to-replace-fiat?utm_source=Bitcoin+Magazine&utm_campaign=31a110c8e6-EMAIL_CAMPAIGN_2022_12_16_08_04&utm_medium=email&utm_term=0_f7d45fbb67-31a110c8e6-357073741&mc_cid=31a110c8e6&mc_eid=386b7b0895

The Stage Is Now Set: Bitcoin Will Replace Fiat. 

  • Bitcoin represents an unprecedented paradigm shift, and while the world may not be ready to replace fiat, that change is inevitable.

Beautyon
Dec 15, 2022

*** begin quote ***

Bitcoin, which will transform the way you transfer money, needs to be understood on its own terms, and not just as an online form of money. Thinking about bitcoin as money is as absurd as thinking about email as another form of sending letters by post; one not only replaces the other but it profoundly changes the way people send and consume messages. It is not a simple substitution or one-dimensional improvement of an existing idea or service.

*** end quote ***

This is your last chance. After this, there is no turning back. You take the blue pill – the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill – you stay in Wonderland and I show you how deep the rabbit-hole goes. — Morpheus in the Matrix (1999)

In this case, it’s the “orange pill”.

I wrote about how “job search” changed in the 80’s from the “gold watch” to “everyone is an entrepreneur”.  I used to say there was no K-Mart Blue Light announcing that there was a “special” in Aisle 7.  There was now announcement that the rules of employment had changed.  But they had and those that failed to adapt were left flopping on the beach like soon to be dead fish when the tide went out.

This “orange pill” tell a similar tale.  The Financial “rules of the game” are changing silently

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BITCOIN: Fiat money kills incentives and distorts the true cost of Gooferment

Tuesday, December 20, 2022

https://bitcoinmagazine.com/culture/fiat-money-ruins-civilization?utm_source=Bitcoin+Magazine&utm_campaign=df4a8e47fa-EMAIL_CAMPAIGN_2022_11_28_08_28&utm_medium=email&utm_term=0_f7d45fbb67-df4a8e47fa-357073741&mc_cid=df4a8e47fa&mc_eid=386b7b0895

Bitcoin Songsheet: How Fiat Money Ruins Civilization
Fiat money leads to a degradation of incentives, creating a society motivated only by the consumption of resources and zero value production.

Jimmy Song
Nov 17, 2022

*** begin quote ***

When the government can print money, the people that benefit the most are the people that get access to that money first. This is called the Cantillon Effect and it’s the reason why rich people get richer without adding much, if anything. So how does the government determine who gets access to the money? As with everything government related, decisions on who gets what money is determined through politics. And when the money printer is political, everything else becomes political. Politics is a cancer that spreads through the entire market.

*** end quote ***

Fiat money allows the Gooferment to escape any fiscal control.

Worse than that it acts as a hidden tax on all the money in circulation.  Savings silently erode away.

Think “penny candy” and then pickup your pitchforks and torches to destroy the FED.  

The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.

#endthefed

—30—

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BITCOIN: Several communities are finding value in bitcoin — transmittal, micropayments, and inflation protection

Wednesday, June 8, 2022

https://block.xyz/2022/btc-report.pdf?utm_source=Bitcoin+Magazine&utm_campaign=a3ccca7c58-&utm_medium=email&utm_term=0_f7d45fbb67-a3ccca7c58-357073741&mc_cid=a3ccca7c58&mc_eid=386b7b0895

Block Inc. Survey Addresses Misconceptions About Bitcoin: Report
By Shawn Amick

*** begin quote ***

Block, a Bitcoin-oriented financial services firm previously known as Square, just released Bitcoin: Knowledge and Perception, a report detailing a survey of 9,500 participants conducted through a partnership with Wakefield Research to address common misconceptions about bitcoin.

Throughout the questionary, some interesting insights were shared such as:

  • 88% of the respondents are aware of Bitcoin.
  • 73% of no-coiners who know a bitcoiner, are likely to buy bitcoin.
  • The percentage of people optimistic about bitcoin’s future is slightly higher for high-income individuals.
  • Asia has the highest optimism in bitcoin’s future.
  • Adoption is significantly higher on countries with high inflation.
  • 51% of the people not buying it, don’t know enough about it.

There is definitely an area of opportunity in improving education to gain further adoption.

*** end quote ***

IMHO as a gun owning pro-life pro-choice little L libertarian, bitcoin is a way to bring “financial” liberty to “We, The Sheeple”.

As soon as all the bitcoins are mined, it should be an ever increasing in value “commodity”.  The genius part is the fixed supply. Gooferment can’t “inflate” it.

I hope we see more competition with the fiat monies of the world (i.e., it is worth what I say it’s worth because I say so).

Argh!

—30—

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BITCOIN: Bitcoi … … makes sanctions quite ineffective

Sunday, April 10, 2022

https://bitcoinmagazine.com/culture/russia-sanctions-bitcoin-conundrum?utm_source=Bitcoin+Magazine&utm_campaign=993d277006-&utm_medium=email&utm_term=0_f7d45fbb67-993d277006-357073741&mc_cid=993d277006&mc_eid=386b7b0895

SANCTIONS AGAINST RUSSIA POSE A CONUNDRUM FOR BITCOIN
Bitcoin is a free and open monetary network, accessible by anyone — which makes sanctions quite ineffective.
DOMINIC COLLARD
MAR 31, 2022

  • This is a guest post by Dominic Collard. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

*** begin quote ***
 
Almost half of Russia’s $630 billion reserves have been seized by foreign governments since the invasion of Ukraine. It was relatively easy to do given modern financial infrastructure.

The mainstream temptation is to react favorably to this move. Russia will be poorer and so less able to fund its war. The baddies lose, the goodies win.

*** and ***

The Bitcoin community risks confirmation bias by not thinking through the full implications. It would be naive to think there is only upside. They say Bitcoin changes people; that it is “F-you money” and with it you are no longer beholden to anyone. But what if the person, or the government, with bitcoin needs to be held down. What then?

*** end quote ***

Maybe I’ve become to cynical of all the politicians and bureaucrats.  I wouldn’t assign labels of “baddies” or “goodies” to anyone.  Just a lot of gray.

That being said, I think — as the Canadian Truckers demonstrated — “We, The Sheeple” should be more afraid of “our” Gooferment than some one a great distance away.

“Would you tell me please, Mr. Howard, why should I trade one tyrant three thousand miles away for three thousand tyrants one mile away? An elected legislature can trample a man’s rights as easily as a king can.” Mel Gibson as the character Benjamin Martin in the movie The Patriot http://www.imdb.com/title/tt0187393/quotes

“Think locally; act locally.” — BrionMcClanahan (where I first heard it)

—30—

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