Image by ways2web from Pixabay

I took a semester off, as I wrote my last post on Publish0x in February 2025. There were several reasons, but the most important is that I'm writing a novel that deals with life in an anarchist community, and it's taking up a lot of my research time. But along the way, I've learned so many things that I wonder daily how I could have ignored everything I've incorporated into my cultural background over the past few months.

I didn't even read anything my colleagues and friends published on Publish0x over the past few months.

At the beginning of this week, I decided to return to this ecosystem, which, it's only fair to say, was the pioneer in paying its readers and content authors in cryptocurrency for doing what we-they love most.

The impression I got from Publish0x this past week—I repeat, without having visited it in six months—is that it has become a recipe book of tactics for traders, something like "how to get rich trading cryptocurrencies." And frankly, it saddens me.

Those who have followed me for several years know that I have always been opposed to treating cryptocurrencies as objects of Wall Street desire. It's incredible to give Bitcoin the same status as copper, corn, gold, or an Apple stock. Cryptocurrencies represent a quantum leap in the evolution of finance and the transmission of value. Bitcoin can't be traded like bags of beans on the cereal exchange. However, the biggest concern today seems to be when a Bitcoin will reach the $120,000 mark.

In fact, having treated Bitcoin with the kind of Wall Street brainpower, has degraded it to the point that the vast majority of the public involved in trading, has no idea of the revolution that began in 2009.

Relating Bitcoin to Wall Street is like thinking Tesla is a car manufacturing company, when in reality it's an electronics development company. The car is just one of the products that can be manufactured with the underlying technologies developed by Tesla's various departments. Likewise, the supernatural beauty of blockchain technology enabled the creation of cryptocurrencies, but that is only one product that can be built with this technology. In reality, what Satoshi Nakamoto set in motion was a bomb that definitively deactivated the banking maze, the sinister MMT Modern Monetary Theory, and the network of intermediaries that has been created by the current capitalist system, the only operating system on the planet, upon which both the right and the left rely to build their networks of privileges.

The possibilities of blockchain technology, in fields as diverse as intellectual property, distribution logistics, law in general, justice, social contracts, politics, archaeological research, real estate, water purification, and we could go on, are truly revolutionary and promise impressive developments for the coming years.

Trading Bitcoin is a bastardization. The average Wall Street trader has no idea about the Byzantine Generals' Problem, a hash function, a mempool, or even the sealing of a block. All they know about Bitcoin is a curve of red and green candles, and a bunch of ignominious calculations and indicators that are made with its value at a given time of day or month.

I was introduced to Bitcoin in 2011, thanks to a student of mine in college. Since then, I've been fascinated by the technology. I have no idea about the price of Bitcoin against the dollar, nor am I the least bit interested. I buy Bitcoin every day, just as I have since I discovered it, and I don't do it with fiat money but with applications developed for that purpose. Furthermore, I receive Bitcoin as a fee for my work. It's the only currency that exists for me, and the one I use for my daily, monthly, and annual expenses. What does it matter what its value is in terms of other currencies, which, by the way, are promissory notes issued by a refuge of criminals known as the Central Bank?

Conclusion

What is the value of a dollar against the Bulgarian Lev? Who cares?

Instead, everyone is worried about the value of Bitcoin against the dollar. That's the Wall Street mentality. To each his own.

Thanks, as always, for taking the time to read. Best regards.