Bitcoin: A Truth Bearing Asset
by Coinicarus | June 21st, 2020 | vol.3
When we gaze into Bitcoin, it reflects back our monetary faults, our high time preference leading to poor quality societal solutions and lives.
It shows us how we’ve traded our future for the ever present at constantly increasing cost. Bitcoin exposes our incentives and shows us how fiat is robbing us of our time value. It isn’t just a store of value, a censorship-resistant medium of exchange, or a predictable monetary policy; I like to refer to Bitcoin as a ‘truth bearing asset’.
Bitcoin was born into the most hostile monetary environment to date, yet it didn’t die; like truth it can be silenced for a time, but eventually it finds the path of least resistance and makes its way to the surface where it cannot be denied.
Wherever you shine the light of Bitcoin, eventually the truth appears.
Bad Actors
Look at bad actors in the Bitcoin space. Certainly they can hide for a time, but Bitcoin’s inability to be centrally controlled or wielded to one’s own narrative creates an obstacle for the personality that is here to scam. Eventually their true nature emerges for all to see.
Shitcoins
Bitcoin is the ultimate black mirror for shitcoins, there is a reason Bitcoin maxis are hated so much; they are a constant reminder that all the other affinity scams are not Bitcoin, try as they might. Another coin can mimic many qualities, but Bitcoin has one attribute that no other coins can ever possess; Immaculate Conception.
The conditions in which Bitcoin was created and launched are not reproducible. There was no real expectation of value with Bitcoin, unlike the affinity scams which all have an expectation of value, and employ marketing teams and even paid shill groups. Bitcoin is the only coin that is actually doing what it is intended to do; it solves a core issue with our money that has plagued us for over 300 years.
A Country’s Money Production
Before Bitcoin came along with its predictable monetary policy and digital scarcity, all we had was gold. We mine 2500 tons each year, and we have a rough ideas of what we think is in the ground. Let’s not pay attention to the fact that everything found on earth is already proven to permeate through the universe so there is a non 0% chance gold can be mined on other planets when the time comes. Truly there is an unknowable amount of gold if we are to be objective about the matter.
Enter Bitcoin.
There will only ever be 21 million.
The code can be forked, but the fork is not Bitcoin. It doesn’t matter if you make another coin on another planet, it doesn’t disrupt Bitcoin’s scarcity in any way. We now have a true measuring stick to hold up against the central banker’s money printing scheme. The central bank policies and FED money printing that is being used against us, robbing us of our future time value without our consent.
Imagine going to work and earning $100, but by the following morning that $100 can only purchase 99.98$ worth of goods or services. This is done without your consent, it keeps happening and there is no recourse. Your purchasing power with that same dollar is constantly dropping, being stripped away by design. It’s being done so subversively that it’s almost unnoticeable. If everyone knew this hoax, there would be a larger uproar than any trivial event they create to hide the fact we are being robbed by very act of participating in this system of fiat money.
Bitcoin’s value accrues in its network; it takes the power away from the money printers.
Endless Wars
It is no secret that fiat money is the root cause of endless bloodshed throughout the world.
The unceasing printing of money allows for wars to far outlast what they could naturally if a real resource were used as backing. Wars would most likely almost vanish as the cost of parting with bitcoin for such barbarism would make no economic sense. It is quite conceivable that countries would more often than not opt to discuss instead.
To conclude: approximately every 10 minutes another block is added to the Bitcoin ledger. It’s marvelously simple, yet incredibly tecnically complex. Mathematics is the language of truth, and Bitcoin is its digital monetary representation.
The root of all evil is indeed money - fiat money - and we are here to fix it.
Vi Veri Vniversum Vivus Vici - By the power of truth, I, while living, have conquered the universe.
Coinicarus is a Bitcoin Remnant, Taco Pleb and hodler of last resort. He came into bitcoin in 2016 and hosts the Fun with Bitcoin podcast. He also builds Lightning nodes, and is into ESP32’s and 3Dprinters. Non bitcoin related passions include meditation and Magick. Oh, and he’s an old school skater punk who still believes we can be better versions of ourselves.