Ray Dalio owns some Bitcoin. He claimed whoever wins the technology will win eventually at the end. However, his recent comment shock the crypto community. He said regulators will kill Bitcoin.
Bitcoin has died 429 times
Since 2010, Bitcoin was declared dead by the media 429 times. Yet Bitcoin still is running with an average of $10 billion per day 24/7, 365.
Death was declared by the “Experts”
Many experts claimed Bitcoin was useless, illegal, no currency, no value, nobody would use, costly, environmental hazard, and whatever they claimed to be.
I am an expert and you have to listen to me
The idea under the trust-based system was someone study and research some subject matters and they are experts in the field and they become spokesmen or spokeswomen on that subject matters. You have to trust them no matter what.
I am rich so you have to listen to me
It evolved in the last decades that rich becomes a measurement of the truth and you even have a president who is so rich to tell truth in the world.
We are living in no expert era or everyone becomes one
Judgment becomes harder and complex. There are no experts in the subject matter or everyone can watch Youtube become one.
No trust but verify
Why trust someone else’s opinion and believe them? You need to verify!
Crypto is running on a verify-based system
Proof of Work is one of many consensus systems that cryptocurrency is running. It is a permissionless blockchain that allows everyone to join and interact with. Miners or verifiers are voluntary to help verify transactions.
From trust-based to verify-based system
The mindset has changed. The decision-making process is from one to many into many to many.
We do not need experts and we are experts
Information distribution is changing from many to many. We are now part of experts and we are contributing to the whole system to make judgments but no opinion. Consensus will provide the final result.
Can governments kill Bitcoin?
From the expert opinion, yes.
From the rich opinion, yes.
From consensus opnion, no.
Show me why?
Bitcoin is a permissionless blockchain network. There is a total of 195 countries in the world that gives a possibility of 195 big nodes to run the Bitcoin mining operations.
The number of countries that banned or restricted using cryptocurrencies is about 20.
The probability of combination is enormous for Bitcoin to survive.
In conclusion
We should forget about experts and verify experts. The world needs to change its mindset and move on.
Photo by Omar Flores on Unsplash
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Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
