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This is a seminal Bitcoin article by Jeff Booth in my view

If Bitcoin does become the foundation of a new monetary system, I have a question that I don't hear being discussed in Bitcoin circles:

Does the foundation of a new Bitcoin monetary system require the large Bitcoin bag holders to embody conscious leadership for it to fully succeed?

Will those holding large amounts of Bitcoin merely take over from existing wealthy fiat oligarchs, hoarding Bitcoin spoils for their own egoic Bitcoin wealthy pleasures and power trips?

I'm proposing that if the ascension of Bitcoin is not matched by an ascension in consciousness of those holding large amounts of Bitcoin, then we run the risk of moving to a sound money system whilst still having unsound egos in control.

Let me explain further:

Under the present fiat monetary system we have a number of extremely wealthy business moguls, oligarchs with foundations, wealthy family dynasties, etc who wield a tremendous amount of power and influence in society.

If Bitcoin takes over we will see evidence of a massive transfer of wealth, with those invested early with over 1,000 bitcoin, potentially becoming billionaires in old fiat $ terms very quickly.

There will have been a massive wealth transfer, but from a consciousness perspective we run the risk that one bunch of unsound egos has merely replaced another.

If this so? What may I have missed?

And why is no one talking about this Bitcoin wealth elephant sat in the middle of the current bull run room?

Would love to hear the views of anyone who wants to contribute.

https://bitcointimes.io/the-greatest-game/

Jeff Booth 1y ago

There is no control of the system by having more wealth AND all prices fall forever relative to bitcoin - for everyone. Ie - they could never spend it all or gain power by holding it. The only way (in time) to accumulate more is to provide value to others and because of that, I suspect as people spend above the rate that they contribute to society it continues to disperse throughout society.

Or through another lens….It is inevitable that an honest ledger creates a higher level of consciousness for all of society since our actions are emergent from that ledger.

Today’s ledger is dishonest so therefore consciousness for most people is a mirror reflection of that system. (that they can see in other people but not in themselves)

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Discussion

David Wetton 1y ago

Thank you nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe, appreciate your comment.

I agree that over the longer term an honest ledger will support and encourage a higher level of consciousness.

I'm curious about what may happen in the transition period.

Who holds the big bags in Bitcoin right now? How will they make use of the massive wealth transfer coming their way? If they are of the Rockerfeller, Rothschild, etc ilk then I don't anticipate them using their wealth windfall for the greater good of all in the short run.

Also during this transition period we know through your 'The Price of Tomorrow' book that the technology and AI boom will lead to millions losing their jobs. Majority of whom are struggling right now and don't hold Bitcoin. How will they manage the transition?

I'm anticipating that Bitcoin's honest ledger will lead to a change in government structures and systems, as inherent corruption is exposed and rejected.

With the possibility of honest democracy, possibly more local and community based, I'm hopeful that those impacted by technology and AI can be supported and empowered to a new thriving way of living, that I probably can't see right now.

As a Chartered Accountant, Warwick MBA, ex acting Director within Barclays Bank and an Interfaith minister I do feel that conscious leaders will emerge and I myself feel the spiritual uplifting nature of Bitcoin - yes money and spirituality do go together for me 😊

Finally, thanks for all that you're being and doing Jeff.

I shared your video 'Navigating Humanity's Greatest Paradigm Shift' with a senior executive coach this week and they came back to me and said: "Loved this video David! So insightful…"

https://www.youtube.com/watch?v=Nn2H-XKEN98

Jeff Booth 1y ago

🙏💜