Where exactly is Bitcoin’s value? Since it has no intrinsic value like metals or foodstuffs.
After some thought, I concluded that it isn’t in simply transacting bitcoins, as reported here by Bitcoin Magazine.
Take a deep breath.
Hold your hats.
This is a speeding speculative spaceship.
Look – the USD is transacted worldwide over more than any other currency, physically and digitally.
But look – we’re all digging deeper into debt the more we transact dollars!
And fracturing our global economy into multiple groupings that are at odds with each other.
After thinking more about it, I have some sort of answer.
An “evil genius strategy” of my own.
Bitcoin leading to a more unified global economic drive IS it’s value proposition.
“Sell everything and buy Bitcoin” is, to the extent that it is desired, the power behind Bitcoin.
Whatever the reason.
Even if it is something ridiculous like ballooning securities to some ridiculous value, this is the power.
Even if it is something “sensible” like Financing Space Conquest (likely to kill many thousands of pioneers while building massive wealth for those who remain down here), this is the power.
For now, we are idiots. But Bitcoin is going nowhere.
When we get wiser, it will still be there.
And we shall play with it wisely.
If we nuke ourselves, we shall still rebuild a new Bitcoin blockchain protocol.
Just like people always build new buildings after the old ones have been bombed to Kingdom come.
Unlike dollars and their securities which can disappear into nothing,
Bitcoin is literally an immortal invention. Like concrete, cars, phones, planes.
Lehman Brothers collapsed and so did CDOs. FTX collapsed and so did FTX coin.
Mt. Gox collapsed but NOT its bitcoins!
The USA Will Likely Zero Its USD Debt to Marry BTC.
I have been watching a Korean Drama called The Love In Your Eyes in which one character called Hae Mi decides she cannot live without the love of her life. A guy called Kyung Jun.
Kyung Jun is polite, sensible, and is from a rich family, and Hae Mi is a spoilt brat.
So, call it her survival strategy for a worthwhile marriage.
Similarly, let’s assume the following, 35 years from now which will be 2050.
1. 1 million BTC in a Bitcoin Strategic Reserve owned by the US Treasury, goes to $90 Trillion USD.
2. The USA has $100 Trillion in unpaid debt (mostly pegged to Bitcoin).
3. In classic 1971 fashion, P.O.T.U.S wakes up on 1st January 2050 and declares the USA debt-free!!
4. POTUS declares that greenbacks are no longer US currency and the USA will transact in Bitcoin satoshis from then on.
Until further notice.
***
What are you gonna do with your bag of greenbacks?
Get angry?
Then what?
It is a very bad debt in the books of the world’s financial records.
Had to be scratched by somebody eventually.
If not you, then the debt creators themselves.
Forgive. Lest we all wring each other’s throats.
Do not forget. Lest another country rug ya’ll like that when its debt is so impossibly huge.
Ah, but you will forget.
***
Alternative Scenario:
1. 1 million BTC in a Bitcoin Strategic Reserve owned by the US Treasury, goes to $90 Trillion USD.
2. The USA has $100 Trillion in unpaid debt (mostly pegged to Bitcoin).
Now…
The US starts to fully accept trade in BTC to stay under the radar of their USD debt problem.
3. Whoever holds the biggest bag of fast-useless USD starts to get antsy.
They want some payment OR ELSE.
Meanwhile, they seem to be really serious, that only a positive outcome will keep a lid on this boiling kettle.
4. The USA contacts SpaceX.
“Can you guys build a Mars colony for these Guys?”
SpaceX: Yeah.
USA to the Guys: We shall finance your journey to Mars. You will be the first to set foot there.
The Guys: You must also build us a SpaceX base in our country.
USA: (sonofabitch) … OK.
Copied from Dr. Neil DeGrasse Tyson.
When Debt Is More Dangerous Than Nukes.
Currently, the world economy is more afraid of nukes, terrorists, climate change, and then debt. In that order.
However, if debt balloons enough, then we shall be afraid of debt AND nukes.
Because too much debt might lead to really launching nukes.
Without debt problems, our nukes usually age into neutral states without anybody firing anything.
The batteries run out, the code goes rusty, and the Uranium quietly decays as if it had never been separated from the ground.
With small debt problems like during WW2, America launched 2 nukes.
How about 10x that?
But see, if we fear debt as well, we will have to come to love nuclear power for peace.
Otherwise, kaBoom.
A poor person with a g̶u̶n̶ nuke is a dangerous person.
We shall love the Mars conquest, Moon colonies, and anything to keep this debt problem from becoming a full-scale world war.
Anything to let US debt down slowly, until it is peacefully pardoned.
Call it avoidance by finding new ways to be busy.
Who cares, our energy problems will be over!
We might even mutate into superheroes.
The first hero will be The Hulk.
The point is, at a certain level of US debt, the USD will have to phase-shift.
It will end its current iteration with the USA compromising more and more.
They might even pull back more of their bases and military operations everywhere else too.
They did so in Afghanistan.
Statement: We’ve left you alone. Do leave us alone too.
Hopefully, Russia will follow suit. Then other countries.
Bitcoin will then be a great tool to help focus the rest of the world away from the huge US debt.
***
Strange as this sounds, after the US has changed up its dollar greenbacks and wiped its books, and no one is angry with them anymore, the way to create a new future is to start debt printing anew.
But this time, they and every government might do it calculatively like Michael Saylor.
No wars. That’s usually the cause of problems.
Just print debt, and buy BTC.
Buy every 30-year-old a house.
Buy Freedom Stuff.
Repeat until the bankers get scared.
Voters will be happy.
No anger anywhere.
Use fossil fuels if need be. Damn the climate.
Let voters decide climate-ish. Not politicians.
Fire most official government workers.
Find a way to keep firing some government workers.
That keeps voters happy.
The third rug pull of USD will be less hated. Politicians got stuff, people got stuff.
They will have something and will be happy.
***
Don’t hate me. I’m just stating facts.
Do not worry.
Bitcoin can take it.
It can take 100 Trillion in US debt.
It can take 100 quadrillion after we have colonized Mars, Venus, and the Moon.
BTC is how to kick the can as far down the road as we can.
And if the Interplanetary Government, at that time, rug pulls its currency, liquidates all its debt, leaving only Bitcoin.
It will be okay.
I mean, ya’ll get to colonize Mars and live 100+ years as a normal human life span. Does it matter how you got there?
Even if it was on the back of a beautiful lie?
Conclusion: Neuralink
Maybe we should call debt ‘future aspirations’.
So, do you want more future aspirations or less?
Because we all rely on a better future whenever we get cheap credit.
A Better Future is our true bank account.
Our ability to infer the future is why we are so smart. Why AI is so smart.
Why AGI, if it emerges, will rule the world.
Because it can see the future of our actions faster than we can.
Now, with Neuralink, Elon Musk hopes we could someday take a ride with the super-mind speed of AI.
What do you think we should do with it?
That’s right, dream bigger of super cities 100 years from now.
And with these dreams, we shall secure some billions of dollars in loans to build out those dreams.
Does it mean they will come to pass?
Nope.
Shall we be evil because we want to live life a little less stressfully rn, at the expense of our magical future worlds?
Nope.
Shall the dreams be wrong?
90% of the time.
Shall we prosecute wrongful dreamers who took us for a roll when we all thought they were 100% right for decades (unlike FTX and Theranos which were actually wrong coz they lied. Do not lie, cheat and manipulate)?
Nope.
Shall we prosecute governments who finance these dreams, even if they mostly finance a lie?
Nope.
In the speculative future, a little Bitcoin is enough to end huge national debt.
Not because it can pay it back. Because it can help us forgive it when the need arises.
Give our nation states a second chance, and allow our politicians to be more like Javier Milei.
To buy us Freedom.
(Btw, the printing of pesos is continuing in Argentina. Maybe printing is as immortal as BTC).
Just like in my Korean Drama, Hae Mi is forgiven and shown love over and over.
She falters each time, but her parents are always there.
We, the citizens, are the parents of our governments.
Our political will gave birth to these idiots.
Governments today are idiots with printing but they too will learn to do better.
They simply learn slowly.
Maybe because society needs it slowly.
So, we shall just have to write the bad debts off that we accepted them to take, as a bad debt.
And learn how to surf printer-economic waves better as we work harder using hard money.
We shall all learn to carry on with our bitcoins, gold, and 10% dreams that worked out.
To the stars.
***
Conclusion: Last One Fr
While I focussed on governments, all crypto altcoins are the same. Just on a smaller scale.
See, FTX’s problem was not because it printed the inflationary FTX coin.
Its problem was growing its debt faster than the Federal Reserve plus almost everybody else.
Plus splashing on politicians at the wrong time (should’ve waited for 2024 and copied Elon Musk).
SBF was an idiot.
Binance is printing its coins. I wouldn’t know how they burn them (quiet rug pull) but they are building value slowly and meticulously.
Takes a lot of handshakes to make true allies. And concessions when one is wrong and needs forgiveness (CZ went to jail for 4 months. Chad move).
Coinbase is doing the same.
Overall,
Every industry today running on fossil fuels, plastics, greenwashing, and things likely bad for the planet, are all low-key hoping to phase-shift so that we start the game at the top once again.
Start the game as if this is the year 1700.
No fossil fuels tapped, no silicon power tapped, lots of useful knowledge and dreams.
For the planet cannot be rug-pulled and you get away with it.
Hint: Natural Destruction.
If we are inflating the utility of our systems so that life is good and easy, I just hope the planet forgives us.
Otherwise, if we are actually a-Ok, something more scientists today should be working hard to figure out,
I could use a little more fossil fuels + nuclear power plants to get an easier life.
We all could.
Don’t care if the wealth passes through USD, UGX, BTC, or PEPE.
I need more hope.
And,
I think the planet can take it.
