Yes, we need to update our series on the question surrounding when CHECKMATE occurs and we add onto the emerging bull in Bitcoin. And, we will. The purpose of this post is different however. Put your moonboy aspirations aside just for a moment and ask: what the heck is Bitcoin gonna actually do for us anyways?
Here are some recent articles from this platform relevant to this post:
Tick Tock - It's Countdown Time
What Would Constitute Checkmate?
That is a great question, and seemingly overlooked often despite its obviously large implications. Here are some stabs at the three biggest things or impacts Bitcoin will have on the world and our society this century (in no particular order):
1. SOV Sovereign - People like having their own stuff. It's partially greed, but more about practical human nature and needs. Bitcoin gives anyone the chance to participate on their own in a permission less manner. People can obtain, store, and hold their own wealth. Bitcoin trades against any and all fiat debt notes and has shown to maintain and improve the purchasing power of individuals that hold it over a period of time. This century, Bitcoin allows the people to protect and enhance their own wealth via a legitimate and credible Store of Value. Finally - a chance for the little guy to stick it to the Status Quo. People won't miss this chance.
2. Protect the Environment and Regulate Energy Markets - Bitcoin will prove to be the exact opposite of what Climate Crisis Zealots like Senator Warren claimed it to be all along. Rather than hurting the environment, Bitcoin will substantially help the environment and our planet.
- make ludicrous things such as wind and solar power viable by actually capturing, storing, and converting to value what these "alternative sources" and "eco friendly" energy sources that are "clean" produce
- balancing the load on the electrical grid in a way that helps consumers and the firms that operate such grids
- converting true waste and dangerous toxic materials to value such as natural gas flares. i.e. help clean up the planet by taking toxic waste and converting it to money
3. Serve as Pristine Collateral for The Global Financial System - Treasuries are a melting ice cube. The global financial system operates on top of UST, a melting ice cube. We need a new foundation. We need pristine collateral, not collateral levered up a zillion times. This may be Bitcoin's biggest role, and also the "least sexy" and one least likely to be observed or acknowledged by the average person. Behind the scenes, Bitcoin can be that new foundation the financial system needs desperately.
What is your idea for what society should use as the best source of collateral?
