Bitcoin: Our Only Hope To Separate Money From State
Happy Independence Day to all in the USA. For us all to gain true independence, Bitcoin is the only way:
BITCOIN: OUR ONLY HOPE TO SEPARATE MONEY FROM STATE
Bitcoin is incredibly powerful in that it is one of the few true bearer assets. Practically all other forms of property you own are yours only because some centralized authoritative power deems it so. Strong property rights are necessary to the flourishing of society. It can generally be trusted that those rights will be respected and upheld in stable democracies. However, the same cannot be said for much of the world’s population. In countries with authoritative regimes or where rule of law means nothing, private property is a luxury afforded to few and where the solution may lie in Bitcoin. A person’s bank accounts could be frozen, possessions stolen and house repossessed, but so long as they memorize their mnemonic seed phrase, their bitcoin will remain stored in cyberspace, ready to be claimed.
In the United States, this notion of true property can serve as an insurance policy or even be used as a political statement. Bitcoin exists completely separate from the current financial system which operates under the steady gaze of the state. Removing your wealth from a system under their control to one outside their purview severely limits the state’s ability to coerce. Through holding an asset that the state is powerless to seize or freeze, an individual gains a great deal of leverage over those wishing to impede their civil liberties.
The narrative of bitcoin being a store of value has successfully entered mainstream discourse. Many bitcoin advocates, notably Michael Saylor, focus their pitches on how bitcoin’s fixed supply schedule and seizure-resistant properties make it the preeminent store of value. This is a far less threatening narrative than others they could tell. Evangelizing bitcoin as the future currency of Earth immediately turns heads, so pitching the more palatable notion of bitcoin being “digital gold” is a perfect Trojan horse.
As this narrative continues, more capital and individuals will flock to bitcoin in search of a store of value amid inflationary fears which, unbeknownst to them, begins the process of hyperbitcoinization. Soon, as development and adoption of Lightning Network increases, bitcoin will make inroads toward becoming considered a scalable medium of exchange. After it has proven sufficient in that regard, bitcoin will steal fiat’s final redeemable quality: its status as a convenient unit of account. Keep in mind this process would take decades to play out as bootstrapping a currency with no leaders to global adoption is a hugely audacious task. Nevertheless, Bitcoiners have a rather low time preference and have no issues with being the patient stewards of this long-term project.
Full article here: https://bitcoinmagazine.com/culture/bitcoin-seperate-money-state