By Michael Seymour, Exchange Desk Sales
We just returned from the Bitcoin 2021 Conference in Miami. Wow! Words will not do this justice, but I will try. Certainly, it was exciting to feel the enthusiasm of this creative, intelligent, passionate, and determined community. Obviously, we are inspired by the volume of businesses and individuals creating and evolving the technology, applications, and ideology that bitcoin offers. However, by far and away, the most empowering impression, the most transformative realization, the most significant accomplishment revealed over the weekend is that Bitcoin is unstoppable.
It has been a roller-coaster journey with many instances of fear and doubt, but the Bitcoin nation is here to stay. Most people conceptualize bitcoin as an asset with a certain price that goes up and down, but always up when you look at a 2+ year time period. This is true, bitcoin is an asset subject to market forces, but it is so much more than that. Bitcoin is a foundation of truth based on the principles of sound money. Its intrinsic nature, its mathematical design, empowers individuals to restore their own authority and claim their own right to conduct commerce without the interference, necessity, or permission from anyone else.
Key Speaker Highlights
Robert Breedlove, one of the conference noted speakers, unabashedly claims that bitcoin is the greatest invention humanity has ever developed. This is a bold claim, but it stems from the very essence and nature of life, an exchange of energy from one form to another unadulterated by belief or power. Bitcoin, and the network technology that supports it, created an indestructible, immutable, publicly accessible record of the true exchange of value, not subject to the distortions of governments, banks, warlords, or any other entity that steals power from the individual to enrich themselves. Bitcoin levels the playing field of exchange and forces all parties involved to communicate honestly and remain accountable to their actions. This is the greatest gift. It is a technological invention that facilitates and perpetuates the timeless ideas of honor and integrity.
Michael Saylor, CEO of Microstrategy, justified his recent massive investment in bitcoin by equating it to plankton, a living organism, the foundation of the food chain, but in the whole new ecosystem of cyberspace. In this way bitcoin is cyber-energy in discrete packets that gives life to myriad organisms, organizations, that seek out their own niche and purpose, co-creating a new civilization. This is not just some fantasy of the metaverse, a virtual reality that takes over our imagination, but it has real world implications that are far more profound. Bitcoin will transform the organization of societies, decentralizing structures of power, by rendering them obsolete. Humanity will no longer require the military might of strong governments to determine what is right or true, or which types of money are deemed to have value. The veracity of communication is built into the network.
As power decentralizes organically, the concentration of wealth will diminish along with it. The immeasurable benefit of this process is the natural reversion to cooperation. The need for competition, greed, and envy is only a function of the perceived scarcity driven by the existing concentration of wealth. Breedlove points out that the current fraudulent system of money corrupts the soul of humanity; fraud begets fraud. Bitcoin fixes this. Bitcoin is sound money, incorruptible and finite, without fraud, and that ethos is already driving the evolution of this revolution. People hunger for morality, even if they do not see it as such. The ubiquitous crime, ethical debasement, physical and mental illnesses, disrespect for our health and our environment are all outcomes of fraudulent money. Bitcoin fixes this. It will take time but it has already begun.
Bitcoin 2021 marked the perceptual paradigm shift from price to promise. The price will continue to rise, but more importantly enable the promises of freedom from oppressive power that comes from sound principles of honest money, establishing a system that authenticates and holds accountable governments, corporations, organizations and individuals to prove their claims; this is a new Genesis.
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LUXOLO Digital Wealth Management