The single most underrated feature of #Bitcoin is that it ties money to the global energy supply.
Today, money printing incentivizes humans to do one thing: consume.
Consumption requires energy - consider all that goes into getting a fidget spinner delivered to your doorstep.
Today, money printing incentivizes humans to do one thing: consume.
Consumption requires energy - consider all that goes into getting a fidget spinner delivered to your doorstep.
Manufacturing the fidget spinner, transporting it across the ocean, storing it in a warehouse, and getting it shipped across the country with 2 day Prime shipping - all of this consumes energy.
When this process is funded by debt, we are consuming energy with money that didn't exist before the loan. In other words, money creation allows us to consume energy that we wouldn't have been able to otherwise.
A nation that can simply print trillions of dollars in the form of debt has unlocked a cheat code to consume far more energy than it otherwise would have.
This actually may bring prosperity for a while - it could even lead to progress and innovation unlike anything we've seen before!
But over time, we become accustomed to our high energy usage. We may even become reliant on our excessive energy usage.
But over time, we become accustomed to our high energy usage. We may even become reliant on our excessive energy usage.
As climate concerns and global warming pop up, we have gone to great lengths to determine how to become more energy efficient.
Meanwhile, increasing amounts of new dollars are created, further reinforcing the incentive to consume beyond our means.
Meanwhile, increasing amounts of new dollars are created, further reinforcing the incentive to consume beyond our means.
Many obsess over the question of how to be more efficient with our current consumption. Few are asking the more important question: are we consuming too much too fast?
By tying money to global energy, #Bitcoin solves the over-consumption problem created by our current system.
Before Bitcoin, we could print money and incentivize the consumption of way more energy.
Before Bitcoin, we could print money and incentivize the consumption of way more energy.
Bitcoin, with its limited supply, cannot be printed. The *only way* to create more Bitcoin is to find increasingly efficient methods of energy consumption.
Yes, Bitcoin requires energy consumption. But importantly, it requires increasingly *efficient* consumption of energy. It incentivizes people to find new sources of energy that were untapped before.
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