1/ Why do people treat #Bitcoin with such awe. Magic internet money is revolutionary, foundational tech? Really?!?
Absolutely!👇
Absolutely!👇
2/ The last few hundred years have seen unprecedented human progress: innovation, prosperity, poverty reduction.
Progress wasn’t a thing until very recently. Why?
Progress wasn’t a thing until very recently. Why?
3/ It’s strange that such an important question is rarely asked and even more rarely answered.
4/ The answer is that a concept we take for granted was invented in the 17th century.
5/ In England "property" came to have a legal definition in the 17th century. Private property defined as property owned by commercial entities was invented.
6/ The invention of private property meant that people could, for the first time, invest in the future and know that they would benefit from their effort.
7/ Suddenly the incentives for effort and creativity were unlocked. Progress was gamified.
8/ The US became the most prosperous place in history because it married a new frontier with property rights for the first time.
9/ A few decades ago we discovered the first new frontier since the Americas: Cyberspace.
10/ However, in cyberspace there was no concept of property rights.
“Information wants to be free”. And so everything was free and nothing had value.
“Information wants to be free”. And so everything was free and nothing had value.
11/ Inevitability the internet degraded into feudal fiefdoms, as has always happened before in history - in the absence of property rights.
12/ Then along came #Bitcoin and showed how the concept of property rights could be applied to the digital realm.
13/ #Bitcoin showed how to create property rights without borders and without the threat of violence- since neither exist in cyberspace.
14/ For only the second time in Human history, we have a new frontier married with the technology of property rights.
Only this time, the frontier is infinite.
Only this time, the frontier is infinite.
15/ For humanity it’s a massive Achievement Unlocked moment.
The opportunity to connect all of humanity, even those in backwards regimes, with access to both property rights and an infinite frontier.
The opportunity to connect all of humanity, even those in backwards regimes, with access to both property rights and an infinite frontier.
16/ This is a foundational tech and social revolution- because, like the 17’th Century, it will enable and incentivise all the other inventive prosperity we are about to create together.
17/ People like to say “blockchain is where the internet was in 1996”, or whatever.
I say humanity is where we were in 1700.
I say humanity is where we were in 1700.
End/ #Bitcoin will enable the greatest creation of wealth in human history.
Simply because it gives ever human being the ability to own the consequences of their efforts.
Simple. Fundamental. #StaySovryn
Simply because it gives ever human being the ability to own the consequences of their efforts.
Simple. Fundamental. #StaySovryn
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