The next financial crisis will have far reaching consequences. How we respond will determine yet another generation’s economic future. What will be Bitcoin’s role? Read on:
1/Nearly 50 years ago the US abandoned the gold standard. For the first time in human history every country became part of a worldwide experiment in fiat money. History has not been kind to fiat. Each one has failed.
2/Fiat fueled cycles whipsaw the economy between boom and bust cycles vaporizing trillions of dollars of value asymmetrically harming the working class.
3/The 2008 lessons have been ignored. Here we are again on the cusp of yet another financial crisis, engineered by QE resulting in the largest multi-asset bubble in modern history.
4/How do we stop the government from continuing to take inordinate risks with our economy? Start by making the dollar sound again. Back it with Bitcoin. Put a stop to inflationary policies, wage stagnation, and bail-ins for bad actors.
5/Bitcoin is the best hard money we have. A Bitcoin standard eliminates fragile, dangerous boom and bust business cycles, mutes systemic imbalances, and allows the market to determine how money is valued and used.
6/Bitcoin has risen naturally sans government decree and is powered by a social layer that cuts across all demographics. Bitcoin is free speech encoded in math.
7/Bitcoin is already nascent money — a financial operating system that allows any one person to contribute to a novel economic framework. Unlike our current monetary system it is open to inspection and verification.
8/Bitcoin will deeply affect how people value time — our most precious resource. It is an economic revolution and a social movement with many yet to be discovered opportunities.
9/Bitcoin’s impact cannot be understated. Bitcoin is not just the first blockchain. Bitcoin is an expression of property rights and explicitly the right to non-sovereign, apolitical money.
Fin/The world is under pressure. State agents have failed in managing our money. We must move to adopt Bitcoin as our standard and once and for all end the fiat experiment.
