Lingua Contra Imperium
Bitcoin language: 5
TL; DR – Countless cash hoaxes have been exposed to the general public by instigating Bitcoin scrutiny. From the start, most of us were unable to see forests of trees. For many, Bitcoin’s simple technology helped explain the highly complex machinations of fiat, which were so pervasive that generations of humans effectively looked at the cash landscape in close quarters. Bitcoin is another lens, a fixed metric, through which the world can be viewed. Meanwhile, many are deceived about the state of things because of the overall consumption effect of inflationary credit expansion, which has an interfering effect on the financial world.
Through Proof of Work mining, the digital world is grafted onto the infinite scarcity of Bitcoin in the physical world. Such a connection between these two domains has not been achieved before using a distributed system. Bitcoin has the additional magical property that it can be transferred over any communication channel, for an almost insignificant fee that only transparently protects its value, and stimulates cooperation among its network participants.
There is a misconception, or common misconception, that many competing elements in this world are rare.
There is only Bitcoin, which is geographically independent, politically stigmatized, and beyond the control of any single entity. Moreover, its perceived value, derived from its ultimate infinite rarity, can be transferred to and from anyone, anywhere on the planet, and at any time.
This is partly what separates Bitcoin from every other cryptocurrency. It’s not hard to invent circumstances, or to imagine what that might be the case. Altcoins are just an exercise in this, they belong in the realm of ideas. Ideas alone will not bring about change. Altcoins, NFTs, de-fi, all this noise exists only in the world of ideas. In the real world, Bitcoin is the simplest and most practical technology that absorbs and outperforms the central proof of stake technologies, all of which look somewhat similar from a decentralized technology perspective.
Alternative coins are nothing but iterations of paper currency, and bring to market nothing but specialized technical jargon that is effective technical gibberish for entertainment. Altcoins originate from Bitcoin, direct copying and failed exchanges. They also depend on it.
Bitcoin solves the difficult problem of connecting events to points in time in distributed systems. It should be noted that Satoshi did not succeed in making the information uncopyable. If you have access to the information, you can also copy it perfectly. Centralized systems try to obfuscate conditional knowledge by avoiding people and discouraging them from learning how to do it.
All information, including those associated with Bitcoin’s private keys, can be copied. This understanding is at the core of learning to use Bitcoin and protecting your privacy. Duplication is a relentless trait of information.
This is a blessing and a curse. This law is what makes good and bad ideas oblivious and intractable. It’s also what makes patents and copyright law a permanent losing battle, one that only lasts with force.
It should be emphasized that the impossibility of correlating events with points in time in distributed systems was an unresolved problem before Bitcoin. Solutions like Bitcoin may be individual, but they cannot be made single, because all information is copyable, and alternative cryptocurrencies will always be there.
It is highly unlikely that the set of conditions that led to the successful launch and takeoff of the Bitcoin economy will ever be repeated in our lives with a currency that can do everything Bitcoin does, and more.
Bitcoin cannot be reinstated as a solution in the bottle, nor can it stay in place. Alternative cryptocurrencies will survive, but will pale in comparison to the success of Bitcoin, because they will remain centralized and ultimately be subject to the whims of one person, a small group, or even a large group of people.
Bitcoin is a non-political money. This is one trait that separates it from all other assets.
You might argue that we won’t find a solution to all political problems in cryptography, however, as Satoshi Nakamoto pointed out, “We can win a major battle in the arms race and win a new area of freedom for several years.” We will likely continue to enjoy the opportunity to enjoy the freedom and property that Satoshi has provided.
Many believe that this freedom arises from the competition between different cryptocurrencies. This is a mistake. For what it does, Bitcoin has no competition. It is unrivaled.
In the vast history of monetary mandate, censorship, and oppression, every person alive has had ideas. Bitcoin provided a simple and doable solution. Non-falsifiable, non-stopping, non-reservable transactions that are requested and stored on a distributed network.
As long as honest nodes control most of the CPU power on the network, they can generate the longest chain and outperform any attackers, and we can store and transfer ownership and value, and thus unsupervised freedom of expression across space and time.
The only requirement is that the good guys collectively have more CPU power than any single attacker. For more than a decade this has been the case.
Bitcoin gives you the freedom to acquire and control property. This is a unique form of ownership. Bitcoin is freedom. It is unique in this respect. You can actually take ownership of freedom with Bitcoin. This is what it means to run Bitcoin.
The problem with Fiat is that its rules are forever imperfectly explained. There is a degree of randomness that is evident in all forms of alternative cryptocurrencies and securities, as they have introduced and dictated a great deal of human governance to the system.
Humans are not most effective at policing themselves, because they are subject to the fallacy of infinite regression. Who is watching the monitors? and so on and so on.
This acknowledges the question: How is judgment defined? In Bitcoin, one has the option to run older versions of Bitcoin, and the freedom to do whatever one chooses with Bitcoin, without being kicked off the network. Our updates are approved by the majority and approved individually as desired. Bitcoin is backward compatible. The burden of choosing who or what is to be dealt with rests solely with the holder of unspent transactions.
There are no restrictions imposed by the Fiat game rules. They do not play with a fixed supply of numbers but instead with a system of building numbers indefinitely.
The fiat game was created on the premise that the highest number, positive or negative, takes the trick. The problem is that the rules of that game are so misused that it has become generally unclear to the public at large how the game works. Fiat, what is it and what is money?
In fiat, you play a three-card monty with the Fed, which provides the illusion of safety, entertainment, and instant gratification (if you play well), in exchange for permanently degrading your fortune.
Instead of making that false promise, Bitcoin simply provides you with certainty about how much property you own at this moment and the next. Bitcoin is real estate ownership in a rented world.
So we are quietly accumulating bitcoin. Bitcoin workers understand that only a permanently closed bid will maintain value in the long run, and increase value when priced against all other non-scarce assets.
You constantly pay unauthorized comfort tax via cash cut as well as direct taxes paid to finance wars and corporations that enforce the network of legal orders. Bitcoin traders understand that any amount of money will give up value indefinitely when the supply is unlimited.
As a society, we are used to not having a fixed supply of monetary numbers but instead a system of building money indefinitely.
Every other monetary system allows people to decide at every moment what rate to keep printing money, and when to tighten, but it will never stop, and there is no incentive for it. History has shown that governments cannot resist the temptation to devalue the currency of society in order to enrich themselves.
Bitcoin is a closed cash census that represents the asynchronous communication inherent in every decentralized system.
Synchronous events do not exist. Everything happens in a lot of its own time. But from the perspective of the central system, with a single line of sight, this does not appear to be the case. There is a distinct difference effect when viewing the monetary landscape through the Bitcoin decentralized system.
But information, and even Bitcoin, cannot directly represent the state of the world. Bitcoin does not pretend to do so. The state of things is not, and it has not been, as any government tells you.
The Bitcoin blockchain is just one description of time within larger and smaller systems, orthogonal systems. All other cryptocurrencies have ignored the core decentralization feature of such a description for the time and tried to hide it with accessory features.
There is a wealth of monetary experiences revealed to us through Bitcoin’s instigation of scrutiny, which were previously hidden or robbed of view. One such thing is understanding our time as an asset that we must constantly trade. Time is not money. But time, like Bitcoin, is scarce.
September 12, 2021
Read Bitcoin Language: 4: “Bitcoin and Existential Risks”
Bitcoin Language Read: 3: “Bitcoin: The First and Last Rival Money”
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Read the Bitcoin language: 1: “BTC is the best explanation for how money is made.”
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