If I were to guess who has created Bitcoin I'd say that it was Milton Friedman, who sort of predicted the e-cash and basically Bitcoin to in an interview back in 1999. His reasoning for the need of such a marvelous piece of technology goes beyond a cash replacer and although he has probably not created Bitcoin he sure had the vision for it. Back in 1999...
Milton Friedman was an American economist who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.
source
I asked a question yesterday on noise.cash regarding the best thing in crypto and the way I addressed it was a bit vague hence the diversification of answers I got, screenshot below.
Each and one of us sees Bitcoin and blockchain technology among with the whole plethora of altcoins through his/her own lenses of reality. That happening due to the panacea of everything sort to speak that crypto and Bitcoin is.
Milton Friedman when envisioned such a disruptive tool in the hand of the general public took into account the massive role of the internet in reducing the role of government. Government that under the light of the corona virus plandemic has been proved to be utterly corrupt in almost every country in this world.
The future will either be decentralized or it won't be at all, meaning that we either get to the point where decentralized governments, or governance systems, will take the power back from such governments and the banks behind them, and oligarchs owning them, and put that to serve the people, or we'll end up in total slavery.
Money as we know it, issued and owned by central banks will disappear, it's just a matter of time and when taking into consideration the the risk of getting to the point where CBDCs will become the reality of money, that nobody could escape from, then we have total control of these powers upon us and that's when Bitcoin ultimately becomes the last resort.
For the ones willing to remain free and be able to coexist free there wouldn't be any option left other than decentralized blockchain based currencies. After a one year experience with this corona plandemic that has proved us how easily fundamental rights and freedoms can be stolen, you can only imagine what will happen once they'll get total control over our cash.
When you have control over one's personal finances, freedom to travel, health, social media access and right to censorship free information you kind of got that person by the balls and there's no way turning back. At that point we really can't go back unless... Unless Bitcoin and crypto.
As Milton Friedman beautifully envisioned this form of e-cash back in 1999, in order to take the control back from these entities and reducing the role of governments and central banks is to be able to send funds all over the world, from A to B, via the internet without the need of a middleman. That's crypto and I'm not saying anything new to you, but for drastically shifting the situation in our favor we need to get past the speculative bubble and start building the foundations for a crypto sustained world economy.
The way I see it, using my simple minded man logic and imagination, what we desperately need right now is means of actually using crypto in day to day life. If we're not gonna work on merchants accepting crypto all over the world, make the most out of DEFI and be able to use crypto as we currently use cash, than Bitcoin has not much of a purpose in this world.
It's true that we can still make money with it, by trading such assets, but we're basically making more money of their own, the cash that the banks and governments have created, under which control we currently are. The ultimate freedom from this slavery will come imo once we get to use crypto in our daily lives on all its designed layers.
Swinging back and forth from crypto to fiat, whether the classic one or CBDCs, means we've not yet earned our total freedom. At the end of the day we still have a system that's gonna tax us under its logic, keep our spending and personal finances under strict supervision and being able to control all of that at the switch of a button.
Can't do that with a decentralized blockchain and its currency. It's simply impossible. The way our future seems to be unfolding under this covid tyranny it seems that there's not much freedom left for us at the end of the tunnel, hence we kind of need to step up the game and mass adopt the new forms of money and payments systems. We don't need more regulations and approval from the governments.
We need ways of using this peer to peer currencies as they have been designed to. Otherwise there's no way out of this tyranny. There's no point in fighting the system anymore or getting approvals from it, the only option left is to work on creating a new one that's supposed to serve the individual, not a totalitarian power. As long as we beg for approvals and regulations we kind of ask for a temporary sweeter slavery that doesn't offer any future guarantee for a regain of our fundamental freedoms.
Paying for coffee, groceries, sending funds from A to B all over the world, with the risk of such methods being used by criminals as well, and getting our ownership back over our personal lives and right to wealth is what we should focus upon, not approvals and regulations. Bitcoin hasn't been created to be approved and regulated by the government, it was designed to reduce the role of governments and central banks and put that power back in the hands of the people.
We shouldn't be asking for ETFs and approvals, we should be using the damn currency more often, introduce it to the world, educate it about its potential and incentivize the society in using it. Once we get there, if we will ever do, who's gonna be able to freeze anything of you, tax you, control your personal life and your future?! Have a great evening people and see you to the next one.
Thanks for attention,
Adrian
Posted Using LeoFinance Beta
I agree!
You're basically poking at one of my long-time concerns about crypto, along with the functional ramifications.
Cryptos — as they exist right now — are not currencies, they are investment vehicles, that are bordering on being securities-like. No judgment in that, BUT when you invest in securities or whatever else, your underlying intent is to increase wealth, not to buy coffee.
We all sing great songs about how amazing cryptocurrencies are, and all the things you can do with blockchain, but the huge pink elephant in the room is daily functionality. Sadly, I don't see anyone out there building an eBay/Amazon-like marketplace centered around cryptos in such a way that fiat becomes redundant... but unless we have that, this whole notion of "mass adoption" remains little more than a pipe dream.
I take some comfort in remembering that the early nerds of the Internet were also very reluctant to let their exciting new "toy" go from being a somewhat exclusionary nerd club to facing the uncomfortable reality called "my mom is on Facebook!"
I also remember people broadly rejecting PayPal because you "couldn't trust" peer-to-peer money transfer without a bank being in the middle....
And that's a psychological shift that has to happen... we have to move from cryptos being perceived as "risky investments" to being "money."
=^..^=
Posted Using LeoFinance Beta
Exactly. We need usability much more than ETFs, approvals and regulations. Bitcoin hasn't been created for that and to further enslave us in a crooked and dated system.
We need to start using and stop speculating. The best thing for crypto would be to become money. As long as it's still an asset, a quite volatile one, it's far from its purpose.
Posted Using LeoFinance Beta
And the other subtext that concerns me about it all is that the entire cryptosphere has been "hijacked" from its idealistic roots and looks more and more like yet another greed based Wall Street cash grab! And it would be such a shame if we just end up with history repeating itself...
=^..^=
Posted Using LeoFinance Beta
Then who is this?
Posted Using LeoFinance Beta
A MEME.
Posted Using LeoFinance Beta
I agree he is a smart man and had a great vision
Posted Using LeoFinance Beta
Good points, true theme, Anarchy is freedom from rulers, not chaos.
Bitcoin is liberty from the tyranny of banks.
Posted Using LeoFinance Beta
Indeed.
Posted Using LeoFinance Beta
This 🙄👏👏
Posted Using LeoFinance Beta
😉
Posted Using LeoFinance Beta
I intensely dislike the idea of having my money traffic under constant supervision and being able to be cut off by an algorithm. Life in modern society is completely impossible without money. Being at the mercy of bureaucracy like that is a terrifying prospect, which is why freedom of transacting without a fear of censorship is indispensable. Any small business owner knows what I'm talking about. Liquidity issues can have far-reaching and devastating consequences.
Posted Using LeoFinance Beta
That's what crypto is meant for.
Posted Using LeoFinance Beta
Ultimately, yes. It will take time for Bitcoin to stabilize. Until then, it will be bought and HODLd.
Posted Using LeoFinance Beta