The bitcoin conference featured Mike Novogratz and a couple of other stooges from duh institutions trying to settle libertarian sentiment on bitcoin. Literally a live version of those "no one" memes on Twitter:
No one:
Novogratz: Don't be scared of institutional, regulatory and governmental involvement in crypto!
The argument these idiots used is that duh institutions, central banks and blah blah will bring stability to the space. They'll bring money and jobs. WTF, sounds like a campaign ad for a politician or something. And we all know how those turn out.
There's a huge, fundamental point that most people miss about why these guys are so dead fuckin wrong about this perspective. There is the perspective of don't trust folks who created the problem in the first place, but there's a deeper level to this. It goes to the heart of why crypto, and bitcoin in particular, is so powerful. Its the root of where it gets its value.
Bitcoin's core value proposition is not as a currency, a pristine asset, an inflation hedge, hard money, none of that. Bitcoin's core value proposition comes from its sovereignty.
When you self-custody bitcoin in an anonymous wallet, you rival governments, not businesses. You are sovereign.
Let that sink in for a minute. You, an individual, are as powerful as a country if you correctly hold bitcoin. Maybe not in offensive military capability, but in every other way. You have the ability to negotiate with governments as an equal and to create markets, not just participate in them.
The biggest con that Novogratz and others perpetrate when they tell you not to be afraid of governments and central banks in bitcoin is that you are in a weaker position. That's false. You are not in a weaker position. For your entire life, you have been in the position of a citizen who gets permission from government to do things. If government says no, then the answer is no. Until now.
When you deploy bitcoin for any economic purpose, you are doing so as a country, not as an individual or a company.
Now just because you have the power of a country doesn't mean you can't be attacked. You'll be attacked with greater frequency, actually. I'm assuming you don't have a military, so you can't just run into the United Nations and start threatening Xin Jiaping and Jim Crow Joe Biden with your 0.14 bitcoin. Because they now know who you are, they can impose physical penalties upon your person. That's why decentralization and anonymity are so important. With this kind of privacy, you can't be attacked for recognizing yourself as a sovereign.
But why would billionaires like Novogratz toe the government line if bitcoin provides them this much power?
Answer: Even people like Novogratz need time to really consider what sovereignty means. They don't have any experience running a country. So when they deploy bitcoin or other cryptos, they pretend to do it as a company. That way, they don't set off any alarms from other national sovereigns by declaring themselves a rival. Because they declare themselves companies and allow their crypto investments to be taxed, they actually put themselves under the protection of a sovereign. This is a comfortable position for people like them. After all, if you've been living a billionaire's life, you don't really need to upset it by trying to use your bitcoin against nation-states. You'll simply misname bitcoin as an asset and use business language triggers to keep yourself safe.
The problem is that people like Novogratz are proliferating this stance to individuals without the same incentives from government that he has. Folks like him have been getting tax breaks from governments and are buddy buddy with politicians. There's no reason to rock that boat and mess up personal relationships as well as the world order that's been working well for him.
I don't have those friendships to worry about. As a smaller investor without any huge investments in any nation-state, I'm also a lot more agile. I can see if your business is real estate and you want to use crypto to expand your holdings. Real estate is monopolized by the nation-state. You'll have to misname your crypto investments as private business investments to continue to do business with no hiccups. But I and most of you have an opportunity to invest in the virtual economy, monopolized by no nation-state. That means we can function as true sovereigns in that space, bring value out of it, and negotiate with nation-states in the real world from a position of better leverage.
Those who understand will use their sovereignty in the virtual space to create investments that will grow tax free. When bringing those investments into the real world, you can now use your new value to purchase tools of negotiation, i.e., passport portfolios, investments in rural neighborhoods around the world, political donations around the world, etc. Hopefully, you see where I'm going with this. You can become a true globalist (but without the satanism and pedophilia) beholden to no nation-state. This is another level of freedom until we finally decide around the world we don't need monarchs and pyramidal social structures to survive.
But it all starts with you recognizing that bitcoin makes you sovereign. Don't believe the rich business class when they tell you that bitcoin is only an asset or only an economic tool. This is false. It's political. They have to say that shit to keep from going to jail. Maintain your anonymity so you can't be attacked or unduly taxed, and you will be able to grow your wealth at the same speed it was stolen from you by the people who want you to believe that crypto is just a bunch of #numbergoup coins.
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