Categories
Crypto News Updates

Bitcoin Returns Self-Empowerment To People

The mechanisms which create the conditions of freedom that bitcoin enables also create self-empowerment within HODLers.

Rule V: Bitcoiners Do Not Do What We Hate

A reimagination of “Beyond Order” by Jordan Peterson through the lens of Bitcoin.

  1. Rule I
  2. Rule II
  3. Rule III
  4. Rule IV

Preface

These essays mirror the exact chronological structure of “Beyond Order” by Jordan Peterson, offering a reflection through a Bitcoin lens. This is chapter five of a 12-part series. If you read the book it adds a second dimension. All quotes credited to Jordan Peterson. All reflections inspired by Satoshi Nakamoto.

Pathological Order In Its Day-To-Day Guise

“When do you stop participating in a worrisome process that you see, or think you see, unfolding in front of you?”

All national currencies have an inflationary pathology. It is incurable because our nations regard inflation to be the solution rather than the problem. Robert Breedlove and Jeff Booth cover this in The Booth Series. Debt-based inflation steals from our future so we can live larger in the present. Yet we know the future is coming, and a debt that could once be repaid is now beyond hope. Many debt holders give off an aura of success when theprojectionn couldn’t be further from the truth. This is the “fake it till you make it” crowd. Social media is full of faces projecting images of success from one side of a screen while debt eats them alive on the other side.

Many people have fallen permanently behind because of these debt cycles. When we know the future is ugly and we are overcome by fear it is natural to keep our eyes fixated down at our feet — safety. The treadmill of life’s rat race continues to move faster while we convince ourselves we can keep up instead of hopping off the machine, causing our suffering. Inspirational coaches tell us to put in 110% and there is truth in that message. It is very un-American to admit defeat and call it quits. This ethos was formed partly because, until recently, there was no way to quit the system without physically exiting. Now you can exit the system peacefully without packing up your bags.

This may still be an unpopular decision, but it’s one gaining attention as the current system continues to dig itself a deeper hole. And when you’re involved in a pathological game that no longer serves you, you would be wise to look for alternative options. Put another way, it is easy for us to get stuck on a treadmill looking down at our feet whipping ourselves to run faster. If you’re willing to detach — take pause, step back, and look at the bigger picture — Bitcoin offers a new truth for those willing to understand its value proposition. We are all witnessing the debasement of our money, time, freedom and security. When will you stop participating in this worrisome process unfolding in front of you?

“Tyranny grows slowly, and asks us to retreat in comparatively tiny steps. But each retreat increases the possibility of the next retreat.”

Free markets, privacy and money have retreated in small steps. Those steps are getting larger as our situation deteriorates, with each crisis being worse than the last. Billions turn into trillions. From shoes off at the airport to a surveillance state which tracks phone calls and text messages. Many programs are sold as temporary but become permanent fixtures in our lives. And the process repeats because we continue to retreat.

Sound money is a radical concept because of its refusal to retreat or bend its standards according to the moment. This high-quality idea is so uncommon as to be completely foreign. Think about how sad this is. We are addicted to easy-bake cash machines and have forgotten entirely what high-quality money looks like. If you find your finances diminishing, perhaps it isn’t your work ethic that’s to blame but the money itself which is losing purchasing power (and taking your motivation down with it).

“Some dragons are everywhere, and they are not easy to defeat.”

Money is the root of all evil. At least that’s what people say. The biblical verse is conveniently abbreviated to turn wisdom into ideology. The full verse from Timothy 1:6 reads: “For the love of money is the root of all evil…” Money itself is not evil, it is a key building block of society that enables humans to trade productively and build civilizations. Hard money strengthens order. But money surfaces questions of morality within each of us. That is the dragon within each of us. And when money is soft it lends itself to morally questionable behavior. People have money as much as money has people. When the money is rigged it incentivizes the players to cheat, creating a toxic positive feedback loop.

Bitcoin restores balance within ourselves and society. Bitcoin raises the standard for quality, morality and stability. That’s not to say it is immune from greed, lust or love. But compare the standard the dollar sets against the standard bitcoin offers. Bitcoin restores faith in humanity by nourishing what we need in order to feel fulfilled instead of the empty pursuit of what we want. Compare what we need against what we want. The world is awash in soft money and the degradation of quality in products and people reflect this. Fiat currency is the dragon that is everywhere and is not easy to defeat. If bitcoin is money does that make it evil by association? A true tragedy is misjudging a heroic offering for just another dragon.

Fortify Your Position

“When culture disintegrates — because it refuses to be aware of its own pathology; because the visionary hero is absent — it descends into the chaos that underlies everything.”

Many Americans believe monetary collapse is exclusive to third-world countries and therefore could never happen stateside. The US dollar’s world reserve status gives credence to this attitude, yet wielding such a powerful weapon is a double-edged sword. Is it possible we’ve become too reliant on status and thus complacent when it comes to actual work? America has no shortage of cultural heroes, but we’ve fallen in love with our heroes and their trophies while ignoring the burden required to maintain the top spot.

The reality is that trophies are lagging indicators. Only those hoisting trophies know how much damn work went into standing at the top of a podium, which can’t be faked. That is the case for Bitcoin mining. The person hoisting the trophy, just like the miner that wins the block reward, must suffer a tremendous sacrifice to be considered a winner.

Pre-coiners often flock into bitcoin at all-time high prices and then complain when experiencing their first hard dip like the casual fair-weather fan. Then these same soft-minded people complain about mining being bad for the environment, when in reality they never put in the work to understand the process and in the grand stage of life they don’t even qualify to sit in the cheap seats. The formula to arrive at success in Bitcoin is bearing the mental burden of holding through a major dip. That separates the Bitcoin maximalist from the tourist. Bitcoin doesn’t lose, it only teaches. Whichever path a person chooses fortifies Bitcoin’s position. We drop the dead weight or we add new believers.

Putting in the work matters in Bitcoin as it should in life. This is something China understands all too well and is hopefully something America has not forgotten — work ethic matters. Bitcoin knows this. Proof-of-work (PoW) is the sacrifice. Bitcoin takes no shortcuts. Money without impurity is the trophy but what most normies have a hard time swallowing is that PoW is the battle testing that hardens the network.

We love watching highlights of Michael Jordan and Tom Brady playing hero ball and hoisting trophies, but few people are interested in the hours of gym time required to put them in a position to win. There are no guarantees for our athletic heroes, they earn their place everyday. Are you earning your keep? Or do you expect a fancy algorithm, AI or machine to solve your problems? Modern Americans expect the victory and the spoils of war even though we are on aggregate morbidly obese and educationally stunted. In Bitcoin there is no free lunch. Get it right.

“… you remain a marionette, with your strings pulled by demonic forces … and one more thing: it is your fault.”

There is a pervasive misconception about good guys and bad guys. Most of us cast ourselves as good when in reality most of us are neither. Most of us are nice guys — neutrals. Good guys, by definition, must have the capacity to confront bad guys. And if you’ve ever met a real malicious bad guy you probably know being good is easier said than done. Ironically, the good guy is equally dangerous as any bad guy. What differentiates the good guy is his or her capacity to harness and channel that danger productively to create order. It is far easier to use danger to create chaos. Morality and effort are required to be good. Note that the good guy may not necessarily be nice. Nice guys waffle on their beliefs when it serves them and are victims of circumstance waiting for the good guy to save them. Bitcoiners hold strong positions based on a provable belief system whose members refuse to be victims of circumstance. This is why Michael Saylor describes the community as a swarm of cyber hornets. Bitcoin is full of unapologetic good guys, not nice guys. Bitcoin is the only group capable of standing up against dangerously centralized sources of power.

Governments use national currencies like a puppeteer, and you are the marionette being manipulated. And now that you’ve been warned: it is your fault. Everyone is hedging their bets waiting for Superman. Everyone is structuring one-sided deals thinking they’re clever when in the long run it is mutually assured destruction. Fiat brings out these bad behaviors because as people near their zero bound they become increasingly desperate. And when money abuses you it’s easy to become jaded, dangerous and open to the idea that chaos is preferable to order. Bitcoin is money that honors its owner and can only be kept if handled with respect in return. It is the light at the end of the tunnel that makes choosing order over chaos a natural decision.

Practicalities

“But it is once again worth realizing that staying where you should not be may be the true worst-case situation: one that drags you out and kills you slowly over decades.”

A staggering 37% of British workers believe their job makes no meaningful contribution to the world. The inference is that people don’t believe their work matters yet they are duty bound to collect fiat currency in order to exist. A third of Brits don’t find purpose at their workplace where they spend the majority of their life. If money is the only reason to go to work and money is inflating your salary away that is a real drag. Imagine the path where you don’t get dragged out and killed by inflationary money. It happens gradually, then suddenly. And we are closer to the suddenly part than no-coiners like to admit. What is your plan? Do you expect the same government that is diluting your purchasing power to restore it out of benevolence? If you are waiting for someone else to save you and you find yourself in a pit, it is your fault.

“If you must cut off a cat’s tail, do not do it half an inch at a time.”

There are a lot of Bitcoiners stuck in traditional cubicle jobs dreaming about making the leap into a Bitcoin career. Around the previous halving in 2016, hiring in the space was nearly exclusively in engineering. Now the market is maturing and a diversity of careers are opening. Here are some resources if you’re seeking to make the leap:

“And there is no doubt that the road to hell, personally and socially, is paved not so much with good intentions as with the adoption of attitudes and undertaking of actions that inescapably disturb your conscience.”

The internet is a battlefield of psychological warfare. Bad behavior gets rewarded with clicks and views. Good behavior is considered mundane and rarely gets attention. Experts in the attention economy are dopamine dealers turning us into digital junkies. We’re wired to respond first to that which is grotesque, shocking, unbelievable, outrageous or insane. Good intentions rarely get ranked in popular or internet culture. This may explain why so many people living on the internet have mental health issues. Our minds desire another hit of dopamine but that does not fulfill what our conscience needs. It’s an empty pleasure.

The modern dollar behaves the exact same way. The dollar once symbolized dependable worth that could be stored but it has turned into dopamine dollars meant to provide short-term hits of pleasure leaving you destitute in the long term. When the US dollar was tied to gold it had good intentions. It represented quality because it held real value. Today’s dollar is an addictive drug turning citizens into junkies. Bitcoiners watch in horror as fiat currency marches its citizens down this dark road.

Do we keep sliding or do we dig in our heels and climb uphill? Bitcoin fixes money so we have no excuses now. The Cattle Co-op is leading the charge in Bitcoin-inspired agriculture. Fiat debt systems have systematically strip-mined America’s soil bank but Untapped Growth and Cows and Bitcoin are on the vanguard restoring its nutrient richness. The knock-on effects of poor building blocks like fiat currency unsurprisingly affect everything upstream. You may not be able to dictate monetary policy but you can select your money, thanks to Bitcoin.

Bitcoiners do not do what we hate. 

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

Source: Bitcoin magazine

Categories
Crypto News Updates

Bitcoin Lurks Where Monetary Responsibility Has Been Abdicated

Bitcoin, being sound money capable of long-term wealth storage, returns the responsibility of saving to the people.

Rule IV: Notice That Bitcoin Lurks Where Monetary Responsibility Has Been Abdicated

A reimagination of “Beyond Order” by Jordan Peterson through the lens of Bitcoin.

Preface

This writing mirrors the exact chronological structure of Beyond Order; offering perspective through a Bitcoin lens. This is part four of a 12-part series, and reading the book adds a second dimension. All quotes credited to Jordan Peterson. All reflections inspired by Satoshi Nakamoto.

Make Yourself Invaluable

“What is left undone is often risky, difficult, and necessary. But that also means — does it not? — that it is worthwhile and significant.”

Bitcoin is risky for nocoiners who have not done their research,difficult for newcomers trying to learn and necessary for those who understand. Polarizing controversy is by definition significant, and Bitcoin is polarizing. The deep divide over the existence of Bitcoin validates its legitimacy as something worthy of exploration.

“It appears that the meaning that most effectively sustains life is to be found in the adoption of responsibility.”

Owning bitcoin is the act of adopting full ownership and accountability. Bitcoin rewards patience, teaches responsibility and nourishes curiosity. Einstein described compound interest as the eighth wonder of the world,and bitcoin to date compounds at 200% annually. This single asset offers normal people a path to retirement – just what saving the dollar had once represented. An asset you could bank on. Today’s dollar is a short-term holding bin that must be invested in order to reach retirement.

Responsibility And Meaning

“You must risk something that matters.”

Talk is cheap. The only way to have skin in the game is to actually own Bitcoin. Everything else is academic. To quote Nassim Taleb, “Don’t tell me what you think, tell me what you have in your portfolio.”

“[Peter] Pan says, ‘To die will be an awfully big adventure.’ But the psychologically insightful unseen narrator objects: ‘To live would be an awfully big adventure…’”

Peter Pan’s Lost Boys celebrate never growing up. After all, who wants to grow up in an increasingly dysfunctional world? Younger generations believe older generations kicked a grenade down the road straight into their laps. Spending a lifetime buried by the debt our elders created seems like an awful adventure. Nocoiners clearly see problems (and claim there are no good solutions) yet so many are quick to call Bitcoin a scam. It would be an awful end to the adventure to drown because you ignored the liferaft. Bitcoiners tend to choose to live life as an awfully big adventure.

Rescue Your Father: Osiris And Horus

“Osiris… a young, vibrant god [who] produced one of the first great and enduring civilizations. But he aged, as all things do, and became willfully blind.”

Gold has been used as base money for thousands of years and still succeeds in its purpose. In contrast, since 1450, we’ve had six world reserve currencies with an average shelf life of 90 years. Lyn Alden explains why the U.S. dollar never had a chance at maintaining parity with gold: It has an unsustainable design forcing it to continuously expand in order to satisfy ever-increasing global exports and oil consumption demands. We all age — but willful blindness is optional.

“We are well advised to take on challenges at precisely the rate that engages and compels alertness, and forces the development of courage, skill, and talent, and to avoid foolhardy confrontation with that which lies beyond current comprehension.”

Do not go all-in on a whim,but buy an amount of Bitcoin that matches your current level of understanding. Minimize your fear of a Bitcoin price dip by dollar-cost-averaging (DCA) to maintain your sanity and avoid getting REKT. Swan Bitcoin and River Financial offer Bitcoin-only DCA tools with educational resources to help you move from custodial to self-custody. Increase your daily purchases as your knowledge increases and, when you feel confident, make the leap into a flavor of custody that offers you the right balance between security and convenience. Grow your Bitcoin stack in proportion to your understanding. Start with a small investment, take the plunge, and “get off zero”.

And Who Might That Be?

“Because the future is coming, as certainly, for all intents and purposes, as the sun rises in the morning. And you are best advised to be ready for it.”

Bitcoin is coming. It’s a parallel universe. An immutable chain of time and trust tethered to our physical world through entropy. What is the price of time? What is the value of trust? Priceless. The bond amongst Bitcoin, time, and trust is as predictable as the sun rising in the morning. My best advice: be ready for it.

“We discovered the future, some long time ago — and now the future is where we each live, in potential. We treat that as reality.”

Imagine life before the discovery of the future. We take it for granted and our descendants will pose a similar statement: Imagine life before the discovery of digital scarcity. That future will be our reality. Fiat currencies pose a very different reality: Imagine financial ruin by robbing yourself tomorrow to pay for today.

“If you treat the person you are committed to in a manner that does not work when it is repeated across time, then you are playing a denigrating game, and you are both going to suffer terribly for it.”

Our relationship to fiat money is a repeated story of disintegration across time. The comprehensive suffering across large swaths of society must be attributed, at least in part, to the fact that money touches everything and our money has become toxic. Money is the common thread across all governments, industries, and households. When we serve money instead of money serving us, we all suffer terribly for it.

Happiness And Responsibility

“… like pleasure, attainment is unreliable… people experience positive emotion in relationship to the pursuit of a valuable goal… That is what produces the most reliable positive emotion.”

We tell the story of our lives as actors in a story, not numbers on a conveyor belt. In order to formulate the story of ourselves that we are proud to tell, we must pursue goals we deem valuable. Tech is obsessed with placing numbers before narratives. This means humans are being forced through algorithmic pinholes which results in empty, unspontaneous and predetermined stories that we are often too embarrassed to tell in their entirety.However, we are human beings who cannot help but tell our story. So in order to salvage our dignity among our peers, we use social media to showcase highly curated splices of our life while suppressing the ugly parts. Studies show chasing “likes” on social media produces negative emotions.

Technology is a black hole we are all being sucked into. We all see that our lives are increasingly dictated by computers. Computers have become the permanent middlemen connecting humans broadly by separating us intimately. Computers draw the metaphorical dividing line: Either you tell computers what to do or they tell you what to do. Fair or not, living above or below the computer line largely determines your fate. But not all computer programs are designed for evil. As Muneeb put it, “Google has a famous motto ‘Don’t be evil.’ But maybe it should be ‘Can’t be evil.’”

You may not be a Bitcoin tech savant like Adam Back but that does not preclude you from living a life immersed in a truthful and transparent narrative that you can be proud to share. Bitcoin is the oldest social network known to mankind: Money. It is designed to only tell the truth, andthat is a story we can all be proud to associate with in its entirety. That is pursuing a valuable goal that produces the most reliable positive emotion.

“There is no escaping the future… the right attitude is to turn around voluntarily and confront it. That works.”

Inertia leaves us drifting through life on autopilot. Breaking that inertia and turning around voluntarily to go toe-to-toe with discomfort is the inspirational story of David Goggins. You may not like it but his results don’t lie and what he does simply works. “Can’t Hurt Me” speaks to something timeless yet forgotten. We are waking up to the reality that the right attitude is to choose to be the hero of our own story.

Freedom exists in many forms. Financial freedom is embedded in the American Dream. Today the math stacks up against you. Simply saving money no longer suffices. To attain financial freedom you must learn to invest your savings. Bitcoin is in a goldilocks period: It is designed to store your money in the long run but is currently in an adolescent growth stage giving it tremendous asymmetrical upside. If you can ride out $50,000 bitcoin during these teenage years, then imagine its future value at maturity.

Pick Up The Extra Weight

“If you attend to your conscience, you will begin to determine that some of the things you are doing are wrong…”

One by one, fiat maximalists awaken to the realization that the green grass on which they’re sitting in the sun itself sits at the center of a prison yard. And they aren’t the ones wearing badges.

“You are all aimed in one direction. You are no longer a house divided against itself. You are standing solidly on a firm foundation. You are no longer so easy to dissuade or discourage. Your resolution trumps your nihilism and despair.”

Bitcoin Maximalism.

“You think, ‘The world is not set right. It is deeply troubling to me.’ That very disenchantment, however, can serve as the indicator of destiny. It speaks of abdicated responsibility — of things left undone, of things that still need to be done.”

“The Matrix” introduced us to the red pill: “Remember, all the red pill offers is the truth — nothing more.” Trust your intuition. Governments believe they can control all variables and it’s best to blue pill their citizens. If you sense that our world is deeply troubled, let that serve as an indicator that something must change. Believe in yourself and set the world right by taking the orange pill.

Notice that Bitcoin lurks where monetary responsibility has been abdicated.

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

Source: Bitcoin magazine

Categories
Crypto News Updates

Bitcoin Illuminates Inflation In The Fog

Bitcoin disperses the fog which enshrouds the good work capital can produce if allocated in a sound manner.

Rule III: Do Not Hide Inflation in the Fog

A reimagination of “Beyond Order” by Jordan Peterson through the lens of Bitcoin.

Preface

This writing mirrors the exact chronological structure of “Beyond Order,” offering reflection through a Bitcoin lens. This is part 3 of a 12-part series. If you read the book, it adds a second dimension. All quotes credited to Jordan Peterson. All reflections inspired by Satoshi Nakamoto.

Those Damned Plates

“Do not pretend you are happy with something if you are not, and if a reasonable solution might, in principle, be negotiated. Have the damn fight.”

Governments assume the guise of the savior handing out trillions in stimulus money. When prices rise, they deny. Don’t pretend to be happy with your country’s monetary policy if you are not. The wealthy who already own assets get richer, the middle-class savers lose purchasing power, and the lower class watch the little they have vanish. The government is not here to save you. All currencies are being debased. Central banks are in a race to the bottom. The United States is printing with such intensity the Federal Reserve Bank of St. Louis (FRED) discontinued updates to its M1 Money Stock and M2 Money Stock charts. This censorship hides the unwanted in the fog.

Bitcoin gives the ordinary worker a fighting chance. Check out John Vallis’ podcast on Decentralized Grazing. His guests, UntappedGrowth and BitcoinAndCows, apply the Bitcoin ethos, restoring America’s soil bank, earning self-sovereignty and sidestepping fiat debt. His model forms a mutually beneficial trinity between investors, ranchers and landowners, who serve their own interests but create exponentially more fruit together through the wisdom of low time preference collaboration. That clears the fog. It puts the farmers and ranchers back to being caretakers of the soil instead of strip miners. This allows them to become stewards again because they are providing for themselves not just today but for tomorrow. Landowners by healing the land, herd owners by preserving the heritage cattle, and ranchers by doing the work. All together as one. It’s easier to aim at a brighter future when you step outside the fiat fog.

Have the damn fight, because you may not be able to take advantage of monetary debasement but monetary debasement is taking advantage of you. Adopt a Bitcoin state of mind and learn how to negotiate a better solution for yourself.

“Life is what repeats, and it is worth getting what repeats right.”

We are creatures of habit and routine. We use currency throughout our days. It’s worth getting the money right. When a better option presents itself with a low barrier to entry, it is your burden to bear if you do not seize that opportunity. An easy on-ramp is with the Fold App, a bitcoin rewards program for your fiat spending. Change your reward system: change your life without changing your day-to-day.

Just Not Worth the Fight

“It is difficult to win an argument, or even begin one, if you have not carefully articulated what you want (or do not) and need (or do not).”

Bitcoin exists in many layers of resolution. Figuring out where to start can be confusing. My breakthrough came from reading “The Internet of Money” series by Andreas Antonopoulos. It is a quick read that covers both the problem and the solution at a high level. Lay this foundation and you will be able to carefully articulate what you want and do not want.

“However, it is the easiest of matters, particularly in the short term, to ignore the prick of conscience and let the small defeats slide, day after day. This is not a good strategy.”

We all accept unfavorable status quos, including our money. In 2008, we were all taken aback when the government announced plans to print billions to stabilize markets. In 2020, billions became trillions. These stimulus plans are sold as short-term solutions conveniently omitting the detrimental long-term consequences. Like the fable of the boiling frog, we are being slowly boiled alive. No-coiners hypocritically claim the intellectual high ground. They complain about the unjust disparity caused by our monetary system and simultaneously plead ignorance to their participation as the accomplice looking for their handout. This short-term relief is not a good long-term strategy. It is desperate high time preference thinking. Recalibrate your lifestyle toward low time preference and you’ll be on your path to prosperity.

Corruption: Commission and Omission

“People generally believe that actively doing something bad (that is a sin of commission) is, on average, worse than passively not doing something good (that is the sin of omission).”

We all witnessed Wall Street commit crimes of commission against the r/wallstreetbets community over GameStop. It is bad enough that our money is being debased but GameStop adds insult to injury. When institutions collude in broad daylight, it inalienably exposes the asymmetrical game we all play just to stay ahead of inflation. Wall Street has created wealth for Boomers for decades, but their past success leaves them vulnerable to normalcy bias. What’s worked in the past no longer applies when something larger than Wall Street comes along. That thing is bitcoin. Bitcoiners have long memories and time continues to vindicate us. The internet never forgets and the writing is on the wall, continue ignoring bitcoin and trusting the bankers on Wall Street at your own peril. Here’s a snapshot of how it started and how it’s going.

Dancing on graves is, admittedly, unsportsmanlike conduct and a Bitcoin pastime. It is in poor taste, but I sympathize with the fact that Bitcoiners have endured years of ridicule by everyone. What can I say besides this is that we are all victims of our pride. Buy bitcoin if you prefer dancing on graves to becoming a cautionary tale. Refusal to add bitcoin to your portfolio to protect your pride (or staying on the sidelines because you take issue with Bitcoiners dancing on graves) is a lie of omission where you are both the actor and the victim.

What Is the Fog?

“…you are afraid that if you specify what you want precisely you will simultaneously discover (and all too clearly) what constitutes failure; you are afraid that failure is the most likely outcome; and, finally, you are afraid that if you define failure and then fail, you will know beyond a shadow of a doubt that it was you that failed, and that is was your fault.”

Kobe Bryant dominated because he knew our generation is “soft like Charmin.” Society is littered with leaders who actively minimize skin in the game while attempting to maximize gains. We’ve exchanged human courage for computed risk adjustment. Bitcoin is a terrifying proposition to those individuals who have built careers on shirking responsibility while still capturing upside. In Bitcoin, you are the backstop. Bitcoin has no FDIC insurance. Bitcoins have infamously been lost forever. Mistakes tend to be terminal. Bitcoin ownership is similar to gun ownership. It’s a serious commitment and the consequence of failure falls squarely on your shoulders. That level of full responsibility removes weak hands or calluses them — natural selection. As the Bitcoin adage goes, “Not your keys, not your bitcoin.” Buy a hardware wallet. Learn to use multisig service like Unchained Capital and reduce the finality of mistakes — take on the burden of responsibility and clear the fog.

“The fog that hides is the refusal to notice — to attend to — emotions and motivational states as they arise, and the refusal to communicate them both to yourself and to the people who are close to you.”

All investors misread markets leading to missed opportunities. The worst investors insist on staying on the sidelines after new information is revealed. We’ve all doubled down on a bad position to appease our pride. Are you certain bitcoin is a scam? Or are you certain your financial woes can be overcome by doubling down on fiat currency? Put your cards on the table and be honest with yourself.

“Best to find out what is true — best to disperse the fog — and find out if the sharp objects you feared were lurking there are real or fantastical. And there is always the danger that some of them are real. But it is better to see them than to keep them occluded by the fog, because you can at least sometimes avoid the danger that you are willing to see.”

There is no end to Bitcoin FUD. Mainstream media has celebrated Bitcoin obituaries since Bitcoin’s birth. To know the truth requires searching through the fog first hand. That is the best way to turn confusion into clarity. Part of clearing the fog surrounding bitcoin is knowing that owning bitcoin can be dangerous but not owning bitcoin can be deadly. Disperse the fog so you know if bitcoin can work to your advantage.

Events and Memories

“We want to know what happened but, more importantly, we want to know why. Why is wisdom. Why enables us to avoid making the same mistake again and again, and if we are fortunate helps us repeat our successes.”

It’s good to know what purpose bitcoin serves, better to know how it works, and best to know why bitcoin matters. “Why” takes you to the level of architecture. The architect recognizes invisible patterns and has the ability to modify intelligently without jeopardizing collapse. An -80% downturn is sufficient to shake out most who simply know “what bitcoin is” as well as “how it works.” Knowing “why bitcoin matters” is the only path to unshakeable conviction capable of HODLing through an -80% downturn. Bitcoin maximalists who understand why it matters hold for reasons beyond price. Fiat currencies are a blueprint for obsolescence. Bitcoin is a blueprint for predictable success: Plan B’s Stock to Flow model predictably traces halving cycles. Bitcoin creates positive feedback loops.

Do not hide inflation in the fog.

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

Source: Bitcoin magazine

Categories
Crypto News Updates

Reimagine Your Life With Bitcoin

Part 2 of a series discussing the shared values between Bitcoin and Jordan Peterson’s newest book, Beyond Order.

Rule II: Imagine Your Life With Bitcoin, Then Aim Single-Mindedly at That

A reimagination of “Beyond Order” by Jordan Peterson through the lens of Bitcoin.

Preface

This is part 2 of a 12-part series. This work follows the chronological order of “Beyond Order.” Each piece represents one chapter and the corresponding subtitles below match the subtitles in the original work. If you own the book, it adds a second dimension. This writing mirrors the ideas in “Beyond Order,” offering reflection through a Bitcoin lens. All quotes credited to Jordan Peterson. All reflections inspired by Satoshi Nakamoto.

You can read part 1 here.

Who Are You — And Who Could You Be?

“You are something that is becoming…Everyone has that sense…that there is more to them than they have yet allowed to be realized. That potential is often obscured by poor health, misfortune, and the general tragedies and mishaps of life.”

We’ve all suffered financial setbacks: blindly following a friend’s investment advice, unexpected financial burdens or falling prey to a ponzi scheme. Repeated pain makes us jaded. The older we become, the more skeptical we become of anything sounding too good to be true. We are afraid of things that live beyond our comprehension. As negative financial experiences compound with age, we tend to retreat deeper into our comfort zone. The scars from pain and age merge into fear overriding our youthful sense of wonder and possibility. It’s no wonder younger generations are enamored by Bitcoin while older generations lean toward apprehension.

“But it can also be hidden by an unwillingness to take full advantage of the opportunities that life offers…Who are you?”

Fear is the natural initial reaction to what is new and foreign. But an unwillingness to explore this potential will at best stunt your growth and at worst leave you vulnerable, due to your static nature, as paradigms shift. Life offers an unlimited number of bad investment options, a limited set of good investment options and a scarcity of time to sort it out. So how do you separate the wheat from the chaff? How do you create a sensible model to evaluate Bitcoin?

“The stories we can neither ignore nor forget are unforgettable for this reason (amongst others): They speak to something we know, but do not know that we know. The ancient Greek philosopher Socrates believed that all learning was a form of remembering.”

Gold is an unforgettable story spanning thousands of years. Ask the average person “why is gold valuable?” and the common response is “because that’s the way it’s always been.” Hold a piece of gold in your hand and its allure is instinctual. Gold’s heft and shine captivates our attention, and attention is certainly worth something. Still, it is difficult for the layperson to explicitly verbalize the intangible principles that make gold valuable. Gold is something we know but do not know that we know. To seek the answer is to remember what took thousands of years to learn: scarcity, divisibility, fungibility, portability and difficulty to reproduce.

Saifedean Ammous shares the forgotten lessons of sound and unsound money in “The Bitcoin Standard.” Learn the principles of sound money and you will remember not only what made gold valuable for thousands of years, but why Bitcoin is and will be valuable for thousands to come.

“[Exodus] emerged as a product of imagination and has been transformed by constant collective retelling and reworking into an ultimately meaningful form that applies politically, economically, historically, personally, and spiritually, all at the same time. This is the very definition of literary depth.”

If you ever come across a Bitcoin maximalist, this individual exhibits the characteristics of the religious fanatic. Suspend your belief and imagine you witness a spiritual figure part the Pacific Ocean (like Moses parting the Red Sea), allowing you to walk through and exit the other side wiser, richer and freer; you emerge inspired by the knowledge that a better future has arrived. It would be hard for you not to obsessively retell and rework that story for the balance of your life. Especially if your aim is to assist your fellow man.

Whether you agree with it or not, the Bible is powerful because it exemplifies literary depth. Bitcoin is expressed across disciplines: technologically, politically, economically, historically and artistically. Categorical breadth and substantive depth are enduring characteristics of deeply meaningful stories. Bitcoin maximalists are fanatics because our existence has transformed our lives, and we are constantly retelling and reworking this ultimately meaningful story for the betterment of our peers.

The Emergence of the Unforgettable

“We may never put our finger on what has gone wrong. However, like children unfamiliar with a new game but still able to play it, we know that the rules are being broken.”

We play a game called capitalism using national currency. It’s not perfect but it’s the best economic game we know. We’ve all played Monopoly with a sketchy banker or a player who hides money under the table. It does not sit well. Even a child can sense unwritten rules are being violated and the game is not being played in good faith. It may happen once, but it’s unlikely to repeat because the player in question will suffer reputational damage and possibly be uninvited to future games. In other words, the story of their guilt will be told as a cautionary tale. The Monopoly Cheater, villain of this simple story, is repulsively memorable and must be retold because any violation of an unwritten rule attacks morality, decency and order at an individual and societal level. This negatively affects our individual conscience and cultural zeitgeist.

An alarming number of big banks, hedge funds and corporations exhibit characteristics of the Monopoly Cheater. Their injustices exposed and broadcasted many times over yet no meaningful punishment follows to reform behavior. As trust erodes, cynicism rises in its absence. When a child encounters a game run by cheaters, he or she seeks a new game with different players with higher moral standards. Bitcoin is money that can’t be cheated. We may not have the power to fix our incumbent game, but we can choose to join in a new game: Bitcoin fixes this.

“But the mere fact that social order reigns to some degree does not mean that a given society has come to explicitly understand its own behavior, its own moral code.”

It is hard to fathom a trillion dollars let alone understand where all the stimulus money goes. The “Money Printer Go Brrrr” meme serves as a cautionary satire of modern monetary policy. Lawyers will write rules and find loopholes to obfuscate transparency, enabling politicians to justify the creation of trillions of dollars without pause. We know the Cantillon Effect skews the game to favor those closest to the printing press. Stimulus money is a paradox: we recognize people are in need yet this form of delivery feels morally questionable and possibly hazardous. These violations of unwritten rules attack our psyche and corrupt our society. These trillion dollar stimulus packages may be legally approved yet it doesn’t take a lawyer to know our social contract is being abused. Our society is doing things even it no longer understands. If you think bitcoin is made out of thin air, try justifying the mechanics of governments making trillions of dollars.

Materia Prima: Who You Could Be (I)

“Materia prima — Latin for the ‘primal element.’ The alchemists regarded the materia prima as the fundamental substance from which everything else — matter and spirit included, equally — emerged, or was derived.”

The five elements in the Vedas include bhūmi (earth), jala (water), tejas (fire), marut (air) and shunya (zero). “The Saylor Series” by Robert Breedlove and Michael Saylor examines human history through the five primal elements from an engineer’s perspective. There is no scarcity of energy in the universe, only our ability (or lack thereof) to harness and channel it. Nature’s elements are raw, uncontrolled forces of chaos. Humans have engineered solutions to bring order to that chaos, turning them into predictable systems of utility. Our ability to integrate with materia prima is in proportion to our prosperity. Bitcoin is a monetary energy network that covers space and time.

Polytheism Into Monotheism, and the Emergence of the Virtuous Hero: Who You Could Be (II)

“The Mesopotamians brilliantly intuited that the highest god — the highest good — involved careful attention (the multiple, head-circling eyes of Marduk) and effective language (the magic words of Marduk, capable of generating a cosmos), in addition to the courage and strength to voluntarily confront and overcome chaos, the unknown.”

The Enuma Elish (translation: When on High) is the oldest known hero myth dating back 4,000 years. Who cares? Clearly America’s most powerful leaders who make our rules and our money. After all, Marduk is symbolically printed in plain sight on every dollar bill. Marduk is the highest god (Annuit cœptis) fighting for the highest good (top of the pyramid) who uses his head circling eyes to see everything (the all-seeing eye).

The Enuma Elish should be taken seriously precisely because its wisdom still applies to this day. Annuit cœptis is Latin for “providence has favored our undertakings.” Put another way, our most powerful watch over those who are committed to something meaningful. Why are all these symbols on our money? Because this timeless wisdom explains what is required to survive when faced with the unknown. No-coiners are faced with this exact predicament with respect to Bitcoin. Do you turn and run? Or do you act like Marduk and voluntarily confront what is new and unknown with clear eyes to make sense of your fear?

Here is a clue: Bitcoin personifies Marduk’s key characteristics. Bitcoin is a transparent network. Each full node serves as a metaphoric all-seeing eye, monitoring the network for anomalies. Bitcoin is the highest form of money ever invented. With respect to magical language, Satoshi had the courage to propose the Bitcoin white paper then later implemented it in code (computer programming language); something our ancestors would certainly compare to magic.

The Enuma Elish tells the story of a war among gods that ends when Marduk attains victory uniting the fractured parties. The Latin phrase “E pluribus unum” means “Out of many, one.” The phrase is inscribed on our coins, included within the Great Seal of the United States and is the motto of the United States Marines. The power to unite at a time when everything is unraveling is worth exploring despite the risk. Bitcoin has the power to unite because no one has the power to manipulate it and everyone has access to it. Bitcoin represents the highest good.

Hero, Dragon, Death and Rebirth: Who You Could Be (III)

“That which you most need to find will be found where you least wish to look.”

We are born into a world that normalizes Keynesian monetary policy. All governments follow the tenets of Keynesian economics: the belief that government intervention can stabilize the economy. This means governments expand or contract the money supply in an attempt to control the economy under various circumstances. On the surface, it seems to have its merit, yet we know money that is easily reproduced violates sound money principles and inevitably leads to unintended consequences.

We are all conditioned to believe our government has the capability to effectively manipulate money resulting in better outcomes. History shows the contrary. Bitcoin is founded on Austrian economic principles — the counterbalance to Keynesian economics. The Mises Institute continues in the spirit of great Austrian economic thinkers like Friedrich Hayek, Ludwig Von Mises and Murray Rothbard. To find what you most need, you may need to deconstruct ideas you were born into, and that is not a place most people wish to look.

How to Act

“Aim at something profound and noble and lofty.”

Bitcoin is a candle in the darkness that exposes a known truth: our money is broken. Government experts insist on debasing our hard-earned money because these events were unforeseeable. We are all passengers on the Titanic and Bitcoin is Noah’s Ark.

Imagine Your Life With Bitcoin, Then Aim Single-Mindedly at That

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

Source: Bitcoin magazine

Categories
Crypto News Updates

Jordan Peterson’s New Book And Bitcoin

Part 1 of a series discussing the shared values between Bitcoin and Jordan Peterson’s newest book, Beyond Order.

Rule I: Do Not Carelessly Denigrate Governments Or Bitcoin

A reimagination of Beyond Order by Jordan Peterson through the lens of Bitcoin.

Preface

This is part 1 of a 12-part series. In an imaginary Venn diagram of Bitcoin and Beyond Order, this writing would reflect the shared values contained in the center. All quotes are credited to Jordan Peterson. All reflections are inspired by Satoshi Nakamoto.

Loneliness and Confusion

Recall the first time you tried explaining how Bitcoin works. Remember, humbly, how much you didn’t know. Looking forward, the only way to make sense of profound subject matter is to discuss it openly and figure out what you don’t know. You will feel exposed, vulnerable, or embarrassed—good. That signal is your precursor to growth. Don’t waste that opportunity. Follow through by seeking the answers. Expose your ignorance through conversation. That takes courage, not stupidity. Blind spots will appear, illuminating your learning path. Rinse and repeat—it becomes cathartic.

Join the conversation on Twitter or Clubhouse to immerse yourself in the community. If you’re not sure whom to follow, I made this Twitter list, Bitcoin Starter Pack, to give you a head start.

Sanity As A Social Institution

“What we deem to be valuable and worthy of attention becomes part of the social contract…”

Bitcoin is a digital organism that maintains a decentralized consensus. This is valuable and worthy of attention because it is by far the cleanest known implementation with respect to governance and money. This is why it’s possible for Bitcoin to be the mutual money of enemies. Traditional organizations are structured in pyramid-shaped hierarchies. The shape of Bitcoin’s hierarchy is a three-circle Venn diagram representing nodes, miners, and developers. It’s fitting that Travis Kling chose the three-circle ikigai, a Japanese concept that means “a reason for being,” as his brand. Bitcoin’s gravitas draws from the Borromean rings, an ancient mathematical pattern representing the sacred trinity, meaning “three are one.”

Systems of centralized trust are societal norms. America’s founding fathers knew the importance of weaving checks and balances through our power structure to decrease the possibility of corruption and tyranny. Our forefathers knew that dissipating centralized power would come at the cost of decision-making speed. This new social contract was an intentional design choice to benefit individuals. Bitcoin is a technological continuation of this American spirit, and this is why it is imperative to run a Bitcoin full node. Running a full node is the act of hoisting the flag, and it grants the owner full membership in the Bitcoin social contract.

Two quick-start full node services for the non-technical crowd are Umbrel and MyNode. The more adventurous can set up a node from scratch via Bitcoin Core. If you feel out of your league setting up something so in-depth, check out BTC Sessions’ node setup tutorials on YouTube.

The Point Of Pointing

“We compete for attention personally, socially, and economically. No currency has a value that exceeds attention.”

The internet we know today—the “internet of communication”—removes barriers to entry, enabling the best content creators to rise to the top of the attention economy based on merit. Bitcoin is the “internet of money” because it takes the shackles off of money. It gives everyone open access to a superior form of money that offers freedom and fairness. If you thought the internet of communication reshaped our lives, imagine what happens when the internet of money takes center stage.

If you are puzzled by the term “internet of money”, Andreas Antonopoulos explained it best in his “Introduction to the Internet of Money.”

“The words we employ are tools that structure our experience.”

Code is the language of programming. Bitcoin is code, an invisible product of imagination, that offers an upgrade path spanning the digital and physical worlds. Bitcoin’s proof-of-work (PoW) design connects the physical and digital worlds through energy input . PoW interlinks the digital world with the analog world for the first time, resulting in a transparent, verifiable trust network between these worlds. This digital trust tool has profoundly restructured our experience.

There is a voluminous amount of writing about Bitcoin by deep thinkers. These works are anchored to historical, biological, and mathematical fundamentals. The wisdom these writings offer has the capacity to meaningfully transform politics, economics, philosophy, and history. To ignorantly deny Bitcoin is to cling to an unbearable present because you fear the unknown potential that this technology offers the future.

I found inspiration in these works:

At What Should We Point?

“… there are unlimited problems… but there are a comparatively limited number of solutions that work practically, psychologically, and socially simultaneously.”

Bitcoin’s discovery of digital scarcity was a precious, one-time phenomenon. It offers a solution that works practically, psychologically, and socially for the greater human good. The Bitcoin network has operated uninterrupted for over 12 years, the highest uptime of any internet-based application ever created. The enigmatic origin story of Satoshi Nakamoto yields the timeless myth of Bitcoin’s “virgin birth.” The ability to achieve such enormous online and in-person Bitcoin communities with $0 marketing budget is the envy of any tech founder. Bitcoin combines digital scarcity, unprecedented reliability, and a remarkable narrative. It is the rare solution that applies to a spectrum of problems.

Although it is known as an online phenomenon, don’t miss the opportunity to connect with the physical side of Bitcoin. David Bailey, CEO of BTC, Inc., hosts Bitcoin 2021, the largest Bitcoin gathering in the world.

“Institutions have evolved to solve problems that must be solved for life to continue. They are by no means perfect—but making them better, rather than worse, is a tricky problem indeed.”

America was founded to solve the problem of religious freedom. The implementation at the social level separates church and state. America’s core tenets include liberty, individual sovereignty, and equality for all (amongst many others). At its core, Bitcoin is the continuation of these tenets. Separation of money from state deepens America’s core tenets on a global scale. Both America and Bitcoin aim to reduce conflicts of interest, reduce ease of corruption, thwart tyranny, and decentralize power. In the same spirit as America, Bitcoin solves a tricky problem without changing fundamentally American values. Neither governments nor Bitcoin are perfect, but only Bitcoin offers individuals and governments alike an upgrade path that works at scale.

Bottom Up

“Piaget suspected… that games undertaken voluntarily will outcompete games imposed and played under threat of force, given that some energy that could be expended on the game itself… has to be wasted on enforcement.”

The persistent criticism about Bitcoin regarding the massive energy expenditure of its mining is understandably infuriating. Without deeper analysis, this statement seems infallible on its surface. Nic Carter debunks these claims in “The Frustrating, Maddening, All-Consuming Bitcoin Energy Debate” and “The Last Word on Bitcoin’s Energy Consumption.” Ross Stevens also has some prescient foresight into the possibilities that Bitcoin brings to energy markets.

Ironically, Bitcoin soaks up “energy of last resort,” such as trapped energy. In other words, the highly competitive nature of Bitcoin mining means that only those with access to the cheapest energy survive. As counterintuitive as it sounds, Bitcoin actually helps at both ends of the energy spectrum. Bitcoin miners are a net positive for the adoption of green energy tech (sans government subsidies), and Bitcoin mining offers an application for trapped energy that could otherwise be wasted, which can be seen in Adam O.’s work on powering Bitcoin mining operations with gas flares.

Bitcoin is a 100% voluntary opt-in monetary system without the threat of force. Bitcoin mining does consume a massive amount of energy when posed as a single number , hash rate. However, this univariate analysis lacks depth to such a great extent that it misses the forest for the trees. Bitcoin mining is so competitive that it prices out inefficient, expensive energy markets and prices in the most efficient, lowest-cost energy inputs, such as green energy and trapped energy.

But isn’t Bitcoin mining still wasting energy on rule enforcement? Bitcoin miners sacrifice something valuable (energy) to ensure randomness in who gets to create the next block—a critical component of decentralization. Enforcement of the rules occurs at the level of full nodes. Relative to Piaget’s position, the distinction is that the energy expended in Bitcoin is 100% voluntarily committed to the fair play of the game itself—it is the carrot, not the stick. These qualities give it the best chance to unite the largest community on earth , the internet, from the bottom up.

The Utility Of The Fool

“The Fool… his strength is precisely his willingness to risk such a drop; to risk being once again at the bottom. No one unwilling to be a foolish beginner can learn… Jung regarded the Fool as the precursor to the Redeemer, the perfected individual.”

A pleb is the Bitcoin equivalent of the archetype of The Fool. In my book, Pleb_BitcoinTINA is the king of plebs. He’s the consummate Fool, and I call him this in the most loving, admirable spirit. He is incredibly knowledgeable, yet he humbles himself with the label of pleb rather than crowning himself a king. His brash approach on social media constantly puts him at risk of being wrong on a very public stage. Sticking your neck out as the Fool requires courage and bravery, with the aim of becoming the Redeemer. This is the way.

Bitcoin can be daunting to newcomers. Stay humble and be grateful that there are so many Bitcoin veterans like NVK and Jimmy Song who are accessible via Twitter, Clubhouse, and podcasts. Assume the spirit of the consummate pleb and know that you’ll never HODL alone.

The Necessity Of Equals

“It is good to be a beginner, but it is a good of a different sort to be an equal among equals. It is said, with much truth, that genuine communication can take place only between peers. This is because it is very difficult to move information up a hierarchy.”

The internet has become the domain of a two-headed dragon: fake news and censorship. Bad actors have manipulated big tech by reverse engineering tech’s highly tuned algorithms with fake news. This has turned the previous structures of order into highly flammable chaos. Tech giants are responding by wielding their centralized power to become the arbiters of the truth and censor speech. This chaos blurs the lines between what is true and what is not true, making it difficult to establish the correct information within a hierarchy. In an effort to restore order, censorship is employed, adding another dimension of complexity: who gets to be the arbiter of truth?

I do not have a solution for the above issue, although proposed solutions like Sphinx Chat offer a glimpse into how we may restore genuine conversation on the internet. Paul Itoi of Sphinx Chat has made the case that future generations will have a chilling response to free applications. Today, the vast majority of the internet is free, which invariably means that the product being sold is you. Sphinx Chat is a pay-to-play decentralized chat app that runs over the Lightning Network. Sending messages requires satoshi micropayments. Connecting to the user’s own node or using a shared node restores the balance of power by giving ownership and control to the user. The pay-to-play system makes it costly to spam the network, and node ownership makes conversations censorship-resistant, all without central authority. Sphinx Chat is not a silver bullet, but it does move us closer to genuine conversation between peers, which could help to restore order from chaos.

Top Dogs

“The position of Top Dog, when occupied properly, has as one of its fundamental attractions the opportunity to identify deserving individuals at or near the beginning of their professional life, and provide them with the means of productive advancement.”

The deep works listed above rose to the top through peer validation and consistent effort. Thus, they constitute proof-of-work through high-quality content aimed at helping fellow Bitcoiners and newcomers level up. The internet may treat users as equals, but it is not free from hierarchy. The Top Dogs in Bitcoin earned their reputations by being reliable, trusted sources of desirable information. On the internet, Top Dog status can only be earned through competency. The plebs continuously validate our Top Dogs like nodes checking the validity of blocks submitted by miners. No one on the internet can coerce you into following them, and the same principle exists in Bitcoin. Because Top Dogs cannot purchase or coerce their positions, there are no popular tyrants on the internet or in Bitcoin (several have tried and failed).

Top Dogs are validated by the community through proof of competency (i.e., game recognizes game). The most competent community members are best positioned to lift others who are deserving. The competent are unlikely to promote anything that lacks merit, as it would risk damaging their hard-earned reputation and position in the hierarchy. Pomp, Preston Pysh, Pierre Rochard, Stephan Livera, and Marty Bent are a few Bitcoiners who act as positive templates. Plebs validate their continued quality, and in return, these Top Dogs continue delivering value to the community. This is a healthy hierarchy of advancement based on legitimacy and competency. Patience, my plebs—our time will come.

Social Institutions Are Necessary, But Insufficient

“The solutions of yesterday and today, upon which our current hierarchies depend, will not necessarily serve as solutions tomorrow. Thoughtless repetition of what sufficed in the past—or, worse, authoritarian insistence that all problems have been permanently solved—therefore means the introduction of great danger when changes in the broader world makes local change necessary.”

We’ve enjoyed an era of great prosperity and peace. This is a massive human achievement we often take for granted. Governments and institutions must be credited for sustaining an environment of orderliness that has nurtured this success. That said, we are at the point where the world is beginning to spin off its axis. Printing more money is the thoughtless repetition of what sufficed in the past. We are nearing the endgame and require a phase shift—a narrative call for heroic action.

We all agree that life is moving too fast, common sense is unraveling, inequality is rampant, and insane is becoming the norm. The trillions of dollars being printed alleviate immediate pain but accelerate foundational disintegration. Bitcoin offers a real solution to this chaos for which meaningful solutions are hard to come by. Its capacity to accurately store time and effort in the form of equitable money cannot be overlooked during this era of easy, infinite money creation. This offers a predictable, universally agreeable anchoring point that slows down time, reveals the truth, offers monetary equality, and restores sanity through transparency.

In our age of cynicism, it is easy to write off any solution that sounds too good to be true. But how do you know that Bitcoin is not the solution? If you cannot come up with a better alternative that aims for the long-term betterment of humanity, it may behoove you to suspend your skepticism and do your own research (DYOR). Bitcoin may just be the glass half full in a world running on empty.

The Necessity Of Balance

“A functional social institution… can utilize the conservative types to carefully implement processes of tried-and-true value, and the creative, liberal types to determine how what is old and out of date might be replaced by something new and more valuable. The balance between conservatism and originality might therefore be properly struck.”

Our tried-and-true institutions are gradually adopting Bitcoin. The list gets longer by the day and includes institutions like PayPal, Square, Visa, J.P. Morgan, and Goldman Sachs. This institutional adoption of Bitcoin, a creative new idea, is the balance being struck between the conservative and out-of-date and original, more valuable ideas.

“… begin with an expansion of conscious wisdom: the articulated realization that conservatism is good (with a set of associated dangers), and that creative transformation — even of the radical sort — is also good (with a set of associated dangers)… and of being able to recognize when the balance has swung too far in one direction.”

Bitcoin is a catalyst that can unite and expand our conscious wisdom. Change is coming, and we are collectively negotiating how to integrate the best aspects of our institutions with radical new ideas like Bitcoin. That said, the involvement of both parties ensures mutual, honest cooperation. This means calling out institutions if they attempt to co-opt or undermine Bitcoin. In fairness, this also means that institutions need to call out Bitcoiners who attempt to raze institutions under the false pretense that they are purely malevolent and have nothing good to offer whatsoever.

“Intelligent and cautious conservatism and careful and incisive change keep the world in order.”

This is the way.

Personality As Hierarchy And Capacity For Transformation

“How, then, is the personality that balances respect for social institutions and, equally, creative transformation to be understood? It is not so easy to determine… For that reason, we turn to stories.”

There was nothing easy about America’s achievement of independence from Great Britain during the American Revolutionary War. Yet, the Declaration of Independence was generated by the conflict, and it contains foundational insights about democracy, religious freedom, and the separation of church and state. The words of that living document honor the best components of the United Kingdom’s governance model in addition to the desirable, new, creative elements that made the founding of America a bold transformative act. The Bitcoin story is 12 years old and has been anything but easy. The first 10 years represented its birth and survival, and the theme of the next decade will be its integration with and transformation of society.

“Great stories are about characters in action, and so they mirror the unconscious structures and processes that help us translate the intransigent world of facts into the sustainable, functional, reciprocal social world of values.”

America did not throw out the baby with the bathwater in writing the Declaration of Independence. In contrast, transformation through integration is what makes the American Revolution a great and complete story. Bitcoin’s “virgin birth” and the mysterious status of Satoshi Nakamoto are no coincidence. Bitcoin paid homage to gold by adopting its time-tested property of value, but it transformed the concept of gold by adding the ability to transport it anywhere instantly—teleportation. Bitcoin’s creation was therefore a mythological act of alchemy. How’s that for a great story? 

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

Source: Bitcoin magazine