How is hyperbitcoinization going to play out? First of all, let’s define the term. Hyperbitcoinization has happened is when Bitcoin is everywhere. The event can be likened to when digital photo or smartphones happened. In retrospect these events seemed to happen almost overnight or at least very fast. When the network effect kicks in, everyone wants a seat on the train as quickly as possible. With Bitcoin the process may seem slow but make no mistake, b-day is coming sooner than you think.
So what’s holding Bitcoin back? The majority of the mainstream media articles and reports you’ve heard about Bitcoin have probably been on a scale from negative to skeptical. It is important to understand why. Bitcoin is threatening to people because of its potential to demolish all of the existing power structures in the world. These structures are all hierarchical and almost all of us have boss. Bitcoin can change the very foundation of the semi-slavery work loop that we all seem to be stuck in. Why? Because the free market works if it’s truly free but no nation has ever experienced that yet!
The game is rigged everywhere. Technological advancements happen faster and faster and still it seems harder and harder for most people to balance the sheets and to end up with green figures each month. Inflation is the straw that leeches on everyone’s milkshake and Bitcoin can cut of the straw. Bitcoin doesn’t just eliminate the middleman, it slays the dragon and turns the peasant into a hydra.
We’re all brainwashed into thinking that the nation state is a natural thing that is needed in order for us to thrive as a species. That we need governance and that democracy is the only option since the only other option would be a dictatorship. We all use whatever means of expressing value the system forces upon us, we’re all monitored and we all seem to accept it. But what if it’s all a cult?
There have been several projects in the past that have tried to address these issues. Some are still active and some have died out. Some want to abolish money all together but that leaves a lot of questions unanswered. People need incentives to do stuff and as of today all too many of us are connected to various life support mechanisms disguised as jobs in the public sector. Money is the ultimate expression of power and that’s where decentralization needs to happen. There are no substitutes.
To be continued….