Bitcoin Is Dead
Long live Bitcoin
We almost lived the dream: Bitcoin as the sole, decentralized, global currency.
The total collapse of central banking, private credit-creation, oligarchical government, currency manipulation, money-printing, obscene wealth, price signal manipulation, and widespread purposeful poverty.
Instead, Bitcoin is about to be pushed off a cliff.
Blame the Bitboys
Bitcoin’s lack of global adoption is the Bitcoin community’s own fault.
They envisioned a Bitcoin-only future, did the math, and realized that every coin would be worth $10 million. They seared that number in their mind and turned Bitcoin into a get-rich-quick scheme.
Instead of hodling (hoarding) coins in hopes of a price increase, Bitcoiners should’ve spent their coins into the real economy, radically increasing widespread adoption by retailers and consumers.
Instead of day trading BTC, Bitcoiners should’ve invested all their powers in educating the public, popularizing the decentralized economy, exposing the greatest sin and crime in human history — corporate-captured central banking.
Instead of making millions of price prediction videos on Youtube, Bitcoiners should’ve funded hundreds of runs for Congress and flooded the Capitol with lobbyists.
Instead of screaming “FUD!” and attacking the character of individuals who raised real questions and concerns, Bitcoiners should’ve honed their reasoning skills and learned to communicate better.
As Douglas Rushkoff so rightly puts it: “Bitcoin’s increasing value is its real failure.”
Instead of seeing Bitcoin as a tool for wider-spread wealth and increased equality of opportunity, greedy young men perverted Bitcoin by turning a revolutionary currency into a speculative investment, greedily sitting on their coins like Smaug, not contributing to the real economy in any way, only hoping for a windfall of profits when the price rose.
Who will destroy Bitcoin once and for all?
Bitboy stupidity undermined the movement.
Bitboy selfishness slowed adoption.
Bitboy idiocy opened a door for decentralization’s greatest enemy to breach its fledgling citadel:
Or rather, two central powers:
The elite oligarchy that controls the corporatist West.
The elite oligarchy that controls the East and Africa.
Decentralization will not best centralization.
America and China will not allow decentralization without a fight to the death.
Freedom-loving individuals are no match for the might and power and wealth of the two richest civilizations in human history.
Because the owners of government have one ultimate goal: to own everything, including you.
Bitcoin is about to enter a Thucydides Trap
When an emerging power threatens to displace a legacy power, war is inevitable.
That’s why we see America and China ramping up for a war against decentralization.
Why would corporate-captured governments welcome Bitcoin or any other cryptocurrency when they already have the legal monopoly on money-printing?
Nations have a vested interest in destroying cryptocurrencies, especially once they introduce competing central surveillance coins as the sole legal tender.
Not only will elite private powers still control the monopoly on creating debt-based fiat money at will, but now they’ll be able to track and trace all your transactions and program your digital dollars to be spent in their time and their way, instantly bankrupting disobedient subjects via the coming social credit system.
Obviously, Bitcoin itself can never be “fully” banned, but what happens when the US and China lead an international effort to kill the coin exchanges, ban Bitcoin usage by retailers, and issue ten-year jail sentences for anyone caught owning cryptocurrency?
It’s already getting harder to buy Bitcoin. It’s already nearly impossible to buy crypto without handing over your identity or reporting it to the government. My own bank just halted all crypto purchases without the government even forcing them to do so, because banks love controlling credit creation.
As more and more countries ban Bitcoin, jurisdictional arbitrage will eventually prove irrelevant and impossible — just ask asbestos producers and lead paint suppliers.
Why would America give up its preeminent place as the world’s reserve currency without a fight to the death?
Why would China give up its rapid ascension as the new global superpower?
I have spent time in North Korea —never underestimate the depths to which despots will descend to maintain control of their citizens.
It is almost certainly too late for decentralization.
Bitcoiners would have to replace the majority of Congress next term.
Then they’d have to lobby them to dismantle the Federal Reserve and institute Bitcoin as the national currency.
Then somehow get all of America’s allies to do the same.
Unfortunately, Bitcoin didn’t reach escape velocity in time. It’s now being dragged back to earth by the elite powers, to be buried alongside real democracy, human rights, and the water-powered car.
Bitcoin is dead.
Long live Bitcoin.