Before 2017, the markets considered bitcoin a black sheep stock. It was at the parameter of my attention whenever I traded traditional stocks.
Bitcoin was a fly on the wall that just didn’t want to buzz out of the window.
Even when it became clear that digital would be the future. Nobody really took the time to make the deep dive. Decentralization was science fiction.
Other digital cash experiments like DigiCash from 1989 got smashed against the wall by the big centralized hands of power.
Bitcoin stuck. It should have been a sign.
It took me until late 2017 to finally do the technological deep dive. I discovered the real system changing power of Blockchain technology and Bitcoin. I read groundbreaking pieces like The Bullish case for Bitcoin and The Bitcoin Standard, by Saifedean Ammous.
My hunger for more knowledge made me ramble YouTube like a Dobermann Pinscher with crypto blood around my mouth. Finally, something was invented to disrupt the hell out of the financial system. New money for the people.
I am a rebellious revolutionary, paid off a post student bank debt of €20.000,- in ten years time. I finally paid €40.000,-. This made me swear never to take a mortgage or loan from a bank. Ever again.
I learned that money is at the root of all problems in the world.
Change the story of money, and you change the world.
I am not naive. Money is an agreement and we need it to survive in this world. Money in our current system buys you optionality at best. Not real freedom. All that our billionaires in this world care about is their bunkers. That says enough.
The Bitcoin revolution won’t happen overnight. Each revolution has its phases, and we can’t predict exactly where great innovations will bring us.
The invention of the wheel led to climate change.
We need patience. Even when things are accelerating through our current crisis, it still might take years for a full system reboot. Or Months.
These are the possible hurdles ahead, the baby steps. Understand them better, and you’ll understand Bitcoin and the revolution of money better.
The adoption lifecycle of technology
The technology adoption life cycle is a sociological model that describes the adoption or acceptance of a new product or innovation, according to the demographic and psychological characteristics of defined adopter groups.
What has been pretty critical for Bitcoin for the last half-year is the adoption by more conservative early adopters. Michael Saylor’s Microstrategy, JP Morgan, Paypal, Square, Fidelity, Tesla, and most recent Blackrock flirting with Bitcoin.
Apple and Amazon might be next.
This activity has made Bitcoin leave the early adopter’s phase, climbing the red steep parabolic line to the summit of inflated expectations while the price is making the same erect move up towards $100K.
According to this chart, there will be disillusionment. My gist is that this will happen because of a second, bigger, Crypto bubble burst. The first one was the ICO bubble burst in 2018.
Fasten Your Seatbelts — The Doc.Com Bubble Crash of Crypto is Pending
March is historically stock market nosedive Month
Most likely is that a pending Great Reset, initiated through an orchestrated stock market crash, will cause millions of conservative, critical and cynical people to throw the towel in the ring and start buying, hodling and using Bitcoin.
And even better, start believing.
The success of the revolution of money depends on non-technical people joining
Innovation is only that good when it changes the ordinary lives of people
Lets face it, we are still far from Bitcoin changing the lives of ordinary people. The non-techies joining is the start of the early majority in the lifecycle chart.
Through technical improvement, the barrier to buy Bitcoin and applying blockchain technology must be lowered, combined with rising awareness.
Today, it is still not that easy to get into Bitcoin, due to KYC and other regulations. Many wallets don’t work in certain countries, many US Citizens still need a VPN to be anonymous. An easy one-step topping up your Bitcoins is slowly getting there, but then you pay 5% commissions in consumer wallets like Coinbase. Again a centralized company profiting from a decentralized idea.
Nothing changing really just yet.
Another group that would benefit from Bitcoin and its promise for money for the people are the conscious communities all around the globe. In fact, I believe they would benefit even more from blockchain technology to run transparent processes and turning around pyramids that need to be turned around.
This group should be interested because they want real change too, And technology can bring this now for the first time in hundreds of years.
The safe-haven currency argument
India Banned Bitcoin last week following countries like Saudi Arabia, Algeria and Bolivia. The trend of nations introducing their own state crypto coins is increasingly coinciding with Bitcoin being banned, censored and media blacklisted.
The safe-haven currency argument for Bitcoin will only increase when more and more Governments follow the UN sustainable development 2030 Agenda. That’s a total control roadmap sugar-coated in socially very hip language, covering up the rapid erosion of human rights that we can experience all around us. The next steps include gaslighting and confusing people into accepting a digital layer for total control. All for the good of the poor, the earth and the weak.
No, not for the pockets of some uber billionaires. Don’t make me laugh.
In those plans, a terrible mistake has been made. First of all, all of the plans have not been sustained by the people in a democratic matter. All of it will be imposed. And second, the power of the potential of Bitcoin as safe-haven has been widely underestimated.
Bitcoin has been born out of a libertarian spirit. It is El Liberador of Money.
The more the small elite in power plays the game of absolute power, the more millions of economical refugees that refuse to exchange their freedom for false security find a safe haven in Bitcoin.
Bitcoin won’t refuse anybody. Bitcoin won’t blacklist anybody. Everybody is welcome in the wild west of Crypto, especially in the Bitcoin saloon of internet money.
Just don’t shoot the piano player.
The trust element
Do you remember the first time you scanned a QR code and sent $50 to a public wallet address? Exciting? I had to do it 5 times until I truly got relaxed about it.
And I am a believer
What when you’re the average John Doe consumer receiving Stimmy after Stimmy? Why move over?
Well, that’s kind of easy.
First, you might be bored to death sitting at home. Second, with Bitcoin price soaring, the fear of missing out slaps you in the face day after day so you buy-in. Third, people need safety. Bitcoin is financial safety.
Still, when you’re new to the world of Crypto, you probably prefer a bank employee looking into a screen to see what is going on with your bank account when something goes wrong.
It’s only healthy when you will do your due diligence before moving your entire savings onto an anonymous, trustless network without costumer service.
Why the hack would you move over to something created by a bunch of post libertarians, cypherpunks and crypto-believers?
My best guess, when traditional money is really at stake. When it will hit your core interest. When all of your possessions are taken away. When it becomes clear you will bleed for the elite’s greed.
When owning nothing doesn’t make you happy.
Change of infrastructure takes time.
With every grand technological revolution of humanity, a new infrastructure needs to be built.
When we moved from horses and carriers to cars, roads needed to be built. The majority believed it would never work.
When we moved from using gas pipes in households to electricity, the new infrastructure needed to be connected to all the houses, buildings etc. Just think of that operation.
And more recently, when we went from analogue to digital, fibres needed to be sunk into the ground, under complete oceans, to make our connection digital, fast and without noise.
Remember the old dial phone and the amount of noise? People were so used to this, that the phone companies that just went digital created digital noise, just to make people feel at ease.
Isn’t that incredible?
People don’t want disruptive change that makes them change their habits. People cling to the old.
And now, the new infrastructure for decentralized accounting, validating, executing contracts and storing data is Blockchain technology. The general public needs to get used to the fact that we are moving towards network run structures to manage our society.
Politics, economics, the environment and almost all parts of our lives can potentially run a blockchain in the future. All things can be tokenized eventually. Most Recently, Non Fungible Tokens to express art are taking a run.
Still, many are shouting it won’t work, even when they figured out what a blockchain is.
It will be our next huge infrastructural change, and it will take some time. O, and yes, the majority will be centralized again. It will co-exist with decentralized systems, where the real change resides.
Some stuff we can predict, like Bitcoin becoming the store of value, the digital gold in the new data economy, and that a new economic crisis will push adoption towards the conservative early adopters and even maybe towards the first of the early majority when the shit really hits the fan after our great imposed Reset.
At the start of the revolution of information, the Internet, we couldn’t predict that you can literally go viral with a dance on YouTube, get millions of followers in a fortnight. Or the rise of influencers and popularity becoming more important than knowledge or even truth.
We never were able to predict the Arabian spring, the revolution in Egypt sparked by bringing demonstrators together via Facebook.
We also learned that after that revolution, the new leaders put the same kind of dictators in place, they just changed the clothes of the Emperor. The political, economic and social climate in Egypt might be even worse now than before the ‘revolution’.
I believe a true revolution of money, embedded in the movement of decentralization, only can work when our awareness on a big scale revolutionizes too.
Spirituality needs to go hand in hand with technology. Tech is only as good for humanity as the intentions of those who control it.
Give it back in the hands of the people, and we’ll be just fine.