Today, I am continuing my series entitled “things people following Bitcoin for the last 13 years have already figured out but I’m presenting as a brand new epiphany“In the past week I had a revelation that I want to share with you. It was about Bitcoin adoption, standardization, normalization. When I thought about what would be required for Bitcoin to get a massive push in the United States to become mainstream, one scenario came to mind that could not be too far away.
It’s not about taxation or accounting standards. Or any of the other things that are incorrectly described as the ebbs of Bitcoin adoption. All of these things are not important, as I discovered first-hand when finally researching Bitcoin in the past month. It’s decentralized nature means that none of these things are needed for it to thrive. This was something I mentioned in my article Last week, we called “Why I Bitcoin.”
The same is true of what I have also observed. article Bitcoin is a digital currency that will last If the people want to survive. For those who know the network, 20,000 global hubs mean that it will remain up, no matter what politician, jurisdiction or regulatory agency tries to stop it. It is all part of the beauty of the network.
After realizing this, I still think, “I wonder what else could be done.” “What is going to accelerate that adoption so much that we move from now—a point of almost no return for Bitcoin—to a significant point of serious escape velocity?” Answer: It was right under my nose.
The title of my article was written by me. article Last week, we called “Why I Bitcoin,” It was one of those titles I just instinctively chose. Some titles I spend a lot of time trying to find, but others, like this, just come to me. articleIt is clear to me what I intend to say.
While walking around the city on Saturday, I wondered where I’d heard this phrase before.
It suddenly came to my mind. In one of my favorite comedy skits, a Philadelphia group of improv comedy comedians went to Occupy protests which occurred in the aftermath of the 2008 recession. Signs that say “Occupy” are found in more than one place. “Why I Occupy.” This was the name of a part of the Occupy Movement. WhyIOccupy.org is the site I remembered. source Many of the angry people at the time believed that the ideology on the website was the solution they were looking for. financial crisis.
After remembering this, I only thought of the next Major financial Crisis, people will really have a legit exit ramp from system. Bitcoin is the exit ramp. It is the thing people who were involved in the GameStop frenzy, whether they knew or not, were desperately searching for, but couldn’t locate.
I recall thinking that many people were upset but had no idea why they were so angry. Everyone was being blamed in chat rooms and social media. The following are some of the most common questions that people ask. Federal Reserve. These people felt they had been ripped off.
They didn’t realise that it wasn’t Ken Griffin’s fault, Citadel’s fault, or even the short-sellers’ fault. It was rather the Federal Reserve’s fault.
Today, the Fed is enlarging that gap of inequality. The inflation story is now a popular one and people understand it. Even if people don’t understand What is the best way to get in touch with you? The majority of people are aware that inflation has occurred. They believe it is due to the Fed exploding the money supply during the last four-year period.
And those who had hoped to duplicate GameStop’s successes with names such as AMC, now know that toxic managers and a loss making business can very easily deflate any momentum of any type of FOMO squeeze or short in any single equity. Brokerages and regulators are able to stop them from doing business in the equity whenever they please.
During the next Major financial Crisis, which in my opinion isn’t too far away, the exact same group pissed-off “have nots” It is hoped that this will direct more of blame to the right place: monetary policies. Inflation is a tax that is unfairly imposed on those who cannot afford it, and has little or no meaning for the super-rich. Quantitative easing and money-printing make the super-rich even richer. This is because they have access to assets such as stocks, bonds, and real estate that people with lower incomes do not.
I asked often during the Fed’s money printing over Covid: If the Fed wanted $5 trillion to print, why didn’t it just divide the amount evenly between all Americans and give us all a cheque? In the end, $5 trillion divided among 300 million people equals about $16,500 for each person. Let’s put systemic reasoning to one side, it is a pretty straightforward question. Why not distribute the money evenly amongst the citizens of the country, rather than playing favorites, to stimulate the economic growth?
This is not what happened in 2008. And it won’t be what happens this year. next financial crisis.
I believe that there will be a new generation of leaders. “have nots” The GameStop fiasco has made economic renegades more aware of how the monetary police operates. A new generation is also familiarizing themselves with the ideology behind Bitcoin. One of the reasons I was attracted to Bitcoin was that it forced a younger generation into understanding Austrian economics, in an age where modern monetary theories have been overused. With this new information, a whole new generation of angry, ordinary people will be forced to pay the price of socialized losses caused by toxic, nefarious companies that privatized their profits. The inflationary crisis will still be fresh in their mind. This time, there will be no doubt about who is eroding their purchasing power and wealth through inflation and taxation.
Then I get to my point. Bitcoin could be the escape route that millions of angry individuals look for in a similar situation.
Bitcoins are not available at GameStop. Does have the opportunity to effect major changes The network’s growth is directly related to its success. It means that every person who decides ownIf they learn about Bitcoin or use it, then they are part of a self fulfilling prophecy that the network will be successful. It is no surprise that the ideology of Bitcoin’s success is built on empowering ordinary people. People who are tired of their hard-earned money being silently swept away by inflation. financial Machines of the Night
There were many people involved in the GameStop frenzy. “apes” Reddit Wall Street Bets traders and the millions of other retail investors will have to face the fact that Bitcoin is a great way to get all the benefits of previous efforts without the negativesThe network is not governed or regulated by anyone. It is run by the users. They can make it a success. This is the digital freedom all these people were seeking during the past decade. financial The crisis was not manifested in a way that was effective.
2008 was just another example of Wall Street’s recurring pattern: whenever things turn catastrophic, the people pay the price and become angry. They then brandish torches. It blows out and everyone goes about their business.
“I’m starting to feel a little better about this whole thing,” John Tuld at the end Margin CallSignifying that things stay the same, no matter how much they change.
This pattern has been used by politicians and bankers to perpetuate their scheme for decades. This is what allows the injustice of having the everyday American pay for the failures of the super-rich.
So, here’s the thing: next If this happens, investors could lose money. You have a legitimate chance to end that cycle Bitcoin will allow them to do so for the first half-century. It can opt them out from the system they have been railing against. Bitcoin is a place where capital flows out of traditional financial institutions and into Bitcoin. financial Assets will send a strong message to major corporations financial Institutions that only act to earn fees (see, for example, their recent obsession with Bitcoin since ETFs were introduced). These flows can also contribute to the self fulfilling prophecy that the network will be successful, as its redundancy is a barometer of the network’s health.
It is by no means guaranteed, but if the system ever goes belly up again, The following are some examples of how to get started: the average person is looking for a true weapon to fight the system – and one that is literally programmed to be the technological braille of the phrases “there’s safety in numbers” and “power to the people,” Bitcoin can shine and create an epoch in its own right that will be remembered as the adoption Renaissance.
Quoth, the Raven is our guest blogger. Opinions stated are solely theirs own These views do not necessarily reflect the opinions of BTC Inc.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: bitcoinmagazine.com