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A Totally Different Way to Think About Bitcoin

How can Bitcoin just keep going up "forever". Well what if Bitcoin is correcting 50+ years of people being unfairly compensated for the labor but only "early adopters" are benefiting from it? What? Tune in to this 14 minute video and find out.

https://www.youtube.com/watch?v=yjyU0VpRMmU

Brisket 1y ago

Hmmm. For a long time I've seen Bitcoin as a progressive & drawn out currency reset

The current fiat system is collapsing under an ever increasing load of devalued debt.

A global currency & debt reset is coming.

Bitcoin is an opt in reset rather than 1 imposed by a government. A way for an individual to progressively cash in their worthless (every year) chips.

I like the concept of a correction but what exactly is being corrected? The fiat currencies are toxic garbage, they're beyond correction.

I think you mean that it's a correction in the sense of righting a wrong. Of returning the value back to the individuals that have worked & are working for it. Fiat currencies create an illusion that this world is scarce in resources. Bitcoin is showing us that it's not the case, that this world is abundant in resources when they're properly allocated.

I definitely think Bitcoin is part of a course correction for humanity.

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Discussion

jamw 1y ago

Agree. And then when it’s used as a currency to transfer wealth based upon those abundant resources as well as labour the correction will be properly realised. At the moment, the store of wealth angle is, in a way, a fiat take on things.

Brisket 1y ago

Humans have always found ways to consume their labour in the future, it's not just a fiat construct.

From salting meat to storing harvested fruits, grains & honey in jars.

Money is an abstraction of value. An individual can trade a consumable good now for this abstracted value. There's an assumption (speculation) by the producer that this abstracted value will be accepted in the future.

Oil is priced in USD but oil is not fiat. Choosing to store oil for the future is not fiat, but it is speculating. Humans are always speculating. We're constantly assessing where we allocate our time, labour & resources for our greatest benefit. This has occurred long before fiat currencies were forced onto is.

Remember that the defining feature of fiat is that it is imposed by decree. While powerful people can force us to use their tokens in certain situations (ie to pay tribute/taxes), they can't force us to value it as individuals.

jamw 1y ago

Indeed. My take was merely a snapshot of how “store of value” is currently being interpreted through fiat currency eyes today and ignores the natural tendency for humans and for that matter animals to store for the future. And I totally agree. My love for Bitcoin is entirely based on its purpose as a medium of two-way cyclical exchange beit for those stores or labour or produce etc, independently from those ruling by decree via their baseless tokens.

Jack Spirko 1y ago

Value is being corrected.

BTheCoin 1y ago

Absolutely! Bitcoin could be a game changer for so many people. It's all about giving power back to the individuals and showing that there's plenty of value in the world! Let's go! 🚀💪 #Bitcoin #ChangeIsComing