Replying to Avatar Jeff Booth

Was asked yesterday by some very good friends (over 20 years together) in YPO about how I would feel if Bitcoin went to zero - and as a result….i went to zero.

I had to explain (again) that I can’t believe I’m lucky enough to live at this time, with all of you, and contribute to this protocol that is aligned to my beliefs. That the reason it won’t fail is the tens of thousands (and growing quickly) people like that who have also realized their agency in creating the world they want to see.

But even in the unlikely event that it did fail, that I wouldn’t change a thing.

What a ride and so fortunate to be creating it with you!

We are so early.
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Little Johnny 1mo ago 💬 1

Yes, I agree. I see it from two different angles:

1.) the existing system will fail. That is 100 percent sure. The end station for that train is permission-based life where your rights are linked to your behaviour. Fascism or communism powered by AI. People live in their 15-minute smart cities (open-air prisons) and do like they are told. It’s irrelevant how much you have money, because you need a permission for everything.*

2.) Bitcoin is the total opposite. As everyone here knows #Bitcoin so well and knows how beautiful the future with Bitcoin is, I won’t talk too much about it. However, when I consider the other option (fascism / communism powered by AI) I cannot understand how Bitcoin could fail. Who the hell would want to be part of that other system… For Bitcoin to fail, the existing system would have to ramp up the brainwashing really quickly and manage to stop the spread of the freedom virus that BTC is. And I think that it’s already too late.

* I believe that Elon Musk was referring to this future when he was talking about money becoming irrelevant. I don't think that he meant that when the whole planet is using Bitcoin as money (not as an asset), then you can do incredible things with just a few sats.

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Mateo 1mo ago

Almost certainly the current system is more likely to fail. But an important dynamic is that the current people in power will attempt to use power to remain in power.

Bombs and bullets are curiously effective.

This might not affect people who hold bitcoin, but I strongly feel that the powerful will somehow force their way in to stay at the top. I'm just not sure *how* they will do that. Hopefully not through forcing changes to the protocol, or enacting legislation outlawing bitcoin.

Because if it's illegal then it becomes unpopular, and will eventually die.

Then again, what do I know? Not much.