Written by Karo Zagorus

Bitcoin is more than just a decentralized digital currency, it is a brand new step for man kind towards the evolution and radical transformation of value base currency. For millennia, currency was thought as an inseparable element of statehood, the god given right of kings and later the democratic right of a government to issue exchangeable value to upkeep the competitiveness of a state and its people. The issuance of currency have became an inseparable part of statehood, until the 3rd of January, 2009.

The creation of Bitcoin solved a couple issues traditional fiat currency posed. Bitcoin eliminated the problem counterfeit currencies pose, it also mitigated the risks that established market economies pose towards individual members of society by removing its effects on stored value. In theory, if the Dow Jones would crash again, we wouldn’t see major decrease in value in the inherent value of Bitcoin, instead what we would be able to perceive that Bitcoin’s market value towards fiat currencies would rise dramatically. It also made it possible for the individual to participate in the financial world, creating further freedom for the individium. As it is said, the individual have the right to its own independent finances and to its own chosen currency. To our surprise, this have came in the form of Bitcoin.

By removing the state’s authority over produced value, individuals can easily store and even transact with their value on the Bitcoin network, interference might exist but to a sense that countries might try to manipulate access to this new financial network, but this can easily overcome with a couple easy steps that also restore our privacy. Bitcoin in its self is not completely anonymous, this was possibly intentional, because the legacy banking systems that we have today don’t grant us any option to audit its finances, therefore we can only depend on the centralized entity’s implied diligence to exercise caution with our deposited currency.

Financial digitalization been a major phenomenon in Sweden where most printed currency was taken out of circulation and access to it was made extremely difficult. This have become a major experiment to see how far we can push the present boundaries of currency in a centralized digital system. This also formed up a major danger, because if foreign adversaries attempt to engage the financial systems of banks of Sweden then they have bigger chance to wipe out and completely destroy its financial system, the only one losing in this game of ruse is the individual in the very end.

Did we really reach that point of no return where the individium’s existence is more important than the will of the people? In fact, we did not, because as of today most western countries are still democracies, the will of the people can adapt the individual’s will that allows its members to share the benefits of added security why fully preserving its freedoms. Bitcoin is not an anarchy project, us individuals still take part in the democratic process by participating the Bitcoin network, by running nodes and processing transactions made on it. When one starts running the entire financial system on its computer, he participates in democracy and helps strengthen common human resolve to eliminate logical variables that cause harm to it. Governments will have to begin working with the people, and not just alone to achieve goals. Governments will be more dependent on the financial input of its individuals than big corporations making direct investments, this was making it possible for individuals to produce more goods and keep expanding the economy by creating jobs and providing more healthy circulation of created value.

The present day financial system built on the endless cycle of debt and limitless credit is not healthy because it creates such opportunities for financial bubbles to form that can severely endanger the livelihood of the individuals of society. When financial crashes happen, it often leads to hyperinflation which makes it harder for people to reach basic goods and necessities that are required for normal operation. It also creates unemployment, jobs close down due to insolvency or inability to cope with the financial stress caused by the crash, which in fact leads to further depression.

At this point, Bitcoin is a game changer. Bitcoin’s deflationary economy promotes savings and sound exercised behaviour with stored financial assets. Reckless spending been the culprit of many economic depressions which can be positively addressed by the adoption of Bitcoin for individually produced value’s storage, which means that if you are earning 1000 euro a month, you can put a percentage of that produced good or all of it into Bitcoin and with that you prevent the stored value to depreciate against other competing currencies and due to the effects of state interests. It should be noted due to how early we are in right now towards the adoption cycle this might seem like a ridiculous statement, but it is not because an implied mass usage will provide further stability for Bitcoin and its traded market value. Bitcoin today is used by speculators to bet on its price, in the early days this proven to be a very lucrative investment because from less than a fraction of a cent the price of Bitcoin increased to today’s price of something around 3500 dollars at the present time of writing.

We should also note that Bitcoin’s inherent value is not determined by the markets, but instead truly the only determining entity of Bitcoin’s price is the individual whom uses Bitcoin or holds onto it. The fact that many have become rich from the early advent of Bitcoin is just a side effect, Bitcoin is not a get rich quick schema that people can use to make immense profits, although today it is still possible and those whom are cunning enough can make actual profits. But also this trading cycle is influenced by many factors, available liquidity can easily manipulate the price swings of Bitcoin which also leads to further spikes and crashes of its market price.

We can often hear from people that Bitcoin is a risky investment, of course it is the highest risk digital currency one can invest into, but during dark times one light at the end of the tunnel can outweigh all risks associated with it. Venezuelans are leaders in Bitcoin and alternative cryptocurrency adoption because their government abused its power for years and failed to realize that its authoritarian tactics further hurt its population which creates greater and greater divides all the way until it reaches a real breaking point. For Venezuelans, Bitcoin means a lifeline to access food and basic goods needed to have a minimal living standard. We all would certainly feel terrible without toilet paper, wouldn’t we?

When an individual invests into Bitcoin, it invests into its own future. Of course, the price swings will cause problems for a period of time if the individual is not fully in possession of knowledge regarding the asset he have invested in. When individuals elect to hold their own funds on private wallets by being in possession of their own private keys they further strengthen the power of the network and create organic demand for more Bitcoin. When individuals of society keep holding onto Bitcoin, they essentially take part in supporting Bitcoin directly and make it possible for others to use Bitcoin as a digital currency, without the underlying factor of store of value it is impossible to have a currency that have a stable value.

Bitcoin might not contain morality, but it spectacularly provides us with a necessary way to re-distribute wealth from the rich elites and powerful corporations and banks into the hands of the middle and lower classes, all this happens without the direct implementation of communism. This is a prime example of how capitalism can create a method that restores trust and entrenches lower classes to promote further economic progress that man kind requires if it wishes to overstep its own boundaries in the future and keep on expanding, to where, unknown.

Bitcoin also have an inherent ability to punish the greedy and act as a necessary control agent to limit profits of third parties whom wish to immorally gain from its rise. Inherent human greed is a very powerful factor in the adoption of Bitcoin, most owners of Bitcoin have already sold or cashed out their funds to claim profits, but this should not be a frowned upon fact. We certainly should also promote this because it is obvious, we must have to get by somehow in real life until this thing unfolds completely. Bitcoin is also not a way to quit your job, if you are not producing value you will never have the ability to store value on the Bitcoin network and will be destined to lose more and more as time progresses. It is relatively impossible to claim that someone can hold until the end, because then one individual can not progress both mentally and physically in reality. But this is also good factor that there are individuals whom are rather reckless, because individuals whom hold larger sums of Bitcoin can take part in the re-distribution process of wealth and value. When a so called “Whale” decides to sell its Bitcoin on an exchange, it is not impossible that multiple other individuals will gain the funds that person have just sold to cash out. This way not just one individual can proceed to create and produce more value and growth but allows others to gain access to Bitcoin. Those whom bought Bitcoin at an all time high had all the possible chance to further investigate what they have invested in and its implications for society as a whole. Well, I imply this, this is what I have reached personally, but it is hard to tell if others made their own research on the subject matter.

It is possible, that in the future we will see many attempts to further make it impossible to obtain Bitcoin, perhaps countries that we did not expect to do it will enact laws that prohibit the ownership of Bitcoin or make it extremely hard to obtain them. But before we run way ahead with making the lives of others hell, we should consider the potential this have towards creating further legitimate growth and progress. By transitioning credit wealth into Bitcoin we push non-existing value into a currency that is backed by the people directly, credit transition is not a bad process but can be damning for individuals if their lifeline changes and can not repay debts. Although there is a lot less printed money out there than actual credit circulating, a financial crash would not affect the price of the invested currency put into Bitcoin, rather it processes a evolutionary snapshot into the blockchain that makes it possible for middle and lower classes to gain back power over self and country. At this point political ideologies will already be in chaos waging wars against one another, just like how it is happening today that Left and Right in today’s political world have created an irreparable gap.

Today’s world is here because we failed to reach consensus and began actively seeking alternative ways to create consensus without requiring trust that will later be destined to be destroyed or broken by others. By resorting to Mathematics we can create facts and truth that can be relied upon, on these we can build a better world that will benefit us, society around us and our future generations to come for centuries to come.

Bitcoin put the truth back into the fact, through the means of Mathematics we can create a better world, but we should also understand that the road ahead of us is extremely long. Political bitterness and grudges can not be held up else we will be waging wars on the blockchain sooner than later which will be detrimental to our existence. We stop progressing when we stop looking for new alternative, we regress when we hold onto old ideologies, therefore we must let them go and look for alternatives that promote progress and reduces the risk of conflict. Europe throughout the millennias fought endless wars and shed the blood of countless people that were killed unnecessarily. Europe reached a turning point in history after the two great world wars, its people elected to attempt to live together in peace and attempt to reach consensus about their coexistence, compromises and solutions were made to embrace peace which lasted for longer than 60 years, an unprecedented era in history.

Satoshi Nakamoto might have been a godsend, a collection of individuals, a grumpy nerd living in a basement or the Illuminati, but we shouldn’t care about it. The fact that Satoshi Nakamoto decided to remain anonymous is a gift for us to keep this system operational without glorifying individuals whom took part in the creation of it. This is what made Bitcoin so great, if we look at alternative projects, we can see that there are creators and people behind them, we can see that these project long ago had their genesis blocks cashed out which leads to the assumption that every alternative that exists out there is only motivated by the underlying human motive of greed and people should exercise caution to hold onto such alternative cryptocurrencies.

As a conclusion, we all should note that this is our life’s greatest opportunity, the prime time when there’s chaos we can create order by taking back control. We reached that point in history, that there is no more development going on, we are proven stagnating and just repeating ourselves in a bad cassette player. We are guilty that we personally allowed the corruption to spread to endless lengths and allowed it to manifest into such forces that can permanently leave its effects on us. We are heading towards very dangerous times that are full with uncertainty and bitterness. The fact that Nassim Nicholas Taleb stated, that: “Bitcoin is an insurance policy against an Orwellian future.” is completely true and accurate.

As per Seneca’s wise wisdom: “While we are postponing, life speeds by.”

As of today, supposedly there is less than 28 million people on Earth whom interact with the Bitcoin network, the rest are absently abdicating.

The path we are on today only leads to terminus, and nothing good will come out of it if we let those whom wish to gain superiority over us, later manage to destroy us.

tippin.me/@karozagorus