My experience with Bitcoin since 2012

My experience with Bitcoin since 2012

Looks like my third rodeo is getting started.

I thought I would leave my thoughts to maybe help those that are about to receive their first windfall.

TLDR, From my experience, once you can afford everything and anything, material things have absolutely no value. I used to think getting a memelambo would be fucking sick. Now, I simply view it as foolish. I have no problem spending on experiences that enhance my life like learning and quality time with family and friends. If you want something, rent.

I remember when I first stumbled across Bitcoin here on reddit. I miss typed a sub reddit and bitcoin came up as a suggestion. I’ve never heard of it before so out of curiosity I clicked the link and then found myself at []( I remember my inner monologue after reading that decentralized p2p digital cash had been invented, “This is going to change everything.” It has, we now live in a world where the central banks now have competition and people can choose their currencies to interact with.

There is a lot of talk about how bitcoin is going to replace national currencies. I do not view this as a possibility. I view it as an inevitability. Fiat currencies are engineered to incentivize debt and spending, transferring wealth from the bottom to the top. Throughout history, governments have used inflation as a hidden tax to steal the savings from their populations. You can trace back the rise and fall of the world reserve currencies for hundreds of years and it is the same pattern always repeats. We now have a defense for this, we can no longer be robbed. Prediction 1: Bitcoin creates a speculative attack on national currencies. People will dump their fiat for btc.

So we now live in a world where people are really encouraged to save rather than spend as everyone in this sub can attest. This has massive implications for a consumer economy. What is going to happen when people realize that buying useless shit is detrimental to their well being. Why buy a lamb, when you can rent for a day, buy 10 in 4 years or 100 in 8 ect. This effect is going to be essential to mitigating climate change as mass consumerism has ruined our planet. Long term prediction: bitcoin collapses the consumer based economies. Buying things like lambos and fancy designer clothes will have the opposite effect that it does now. Society will embrace frugality and turn away from ostentatious extravagance.

Now for the big changes. Throughout history, really big changes happen when humans get new ways to archive data. Writing gave birth to contract law. Double entry accounting gave birth to publicly owned companies. Printing press change how we distribute information, the internet, big data, and now bitcoin’s blockchain. Prediction 3: Bitcoin doesn’t just disrupt banks or money, it disrupts governments. With things like musig and taproot, I think we are starting to see the beginning of a new way people choose their governments. They will move to a subscription model where the governments will have to compete for their citizens. Boarders are going to completely dissolve. This is where I think we are headed. Want communism, go ahead an sign up for that. Want a hyper libertarian Wild West free market? 9.99 a month. Democratic socialism, just sign in with your decentralized id. The best and most efficient government will win the most productive citizens.

I am sincerely looking forward to working to building a more private and free new world with you all.

View Reddit by redditbtcthrwawy2012View Source

Leave a Comment

Your email address will not be published. Required fields are marked *