Bitcoin solves, this, that and the other thing. Bitcoin solves everything!
Well, no. It doesn't. It can help, but it can't do anything. And any problem that Bitcoin is capable of fixing (or helping to fix anyway), is a problem that the "powers that be" REFUSE to fix with the tools they have.
Bitcoin sets rules that cannot be bent or broken. It is those rules preventing certain things from happening that provides the OPPORTUNITY for people to make different decisions, and it is those decisions and the actions that come from those decisions that will really make the change that we want to see.
When central banks can no longer print money, they will have to find another way to fill their vaults. Governments will have to find another way to pay their bills when the central banks can no longer lend them the money. Businesses will no longer be able to depend on government bailouts when they falter. They will have to be more careful, and build their business on top of a solid foundation.
Bitcoin will not eliminate debt. But if someone agrees to pay back a loan, that contract will mean an actual transfer of money in Bitcoin and the loan will have to be paid back IN Bitcoin.
I was thinking the other day about this, and wondered what happens when debts like this are unable to be paid back. Credit card loans, mortgages, business loans that go bad, options selling where people go into the red and then just walk away. None of that will be viable when we have a solid financial foundation.
So Bitcoin will offer us an opportunity to solve a lot of problems. But we will have to actually do the work, regardless. It's not even going to make it easier, it will actually make it harder in some ways. But it will take away some really bad choices that we could make that have long term consequences that we just cannot pay. Or more accurately, consequences that we should not in good conscience put onto our children's shoulders.
chadlupkes / Chad Lupkes
npub1mu…wcnel
2024-04-05 01:21:37
Author Public Key
npub1murdy8k20svu38g9f9jt9k0rqkjzt677x3qrev88je4gw2erqk8scwcnelPublished at
2024-04-05 01:21:37Event JSON
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"content": "Bitcoin solves, this, that and the other thing. Bitcoin solves everything!\n\nWell, no. It doesn't. It can help, but it can't do anything. And any problem that Bitcoin is capable of fixing (or helping to fix anyway), is a problem that the \"powers that be\" REFUSE to fix with the tools they have. \n\nBitcoin sets rules that cannot be bent or broken. It is those rules preventing certain things from happening that provides the OPPORTUNITY for people to make different decisions, and it is those decisions and the actions that come from those decisions that will really make the change that we want to see.\n\nWhen central banks can no longer print money, they will have to find another way to fill their vaults. Governments will have to find another way to pay their bills when the central banks can no longer lend them the money. Businesses will no longer be able to depend on government bailouts when they falter. They will have to be more careful, and build their business on top of a solid foundation.\n\nBitcoin will not eliminate debt. But if someone agrees to pay back a loan, that contract will mean an actual transfer of money in Bitcoin and the loan will have to be paid back IN Bitcoin.\n\nI was thinking the other day about this, and wondered what happens when debts like this are unable to be paid back. Credit card loans, mortgages, business loans that go bad, options selling where people go into the red and then just walk away. None of that will be viable when we have a solid financial foundation.\n\nSo Bitcoin will offer us an opportunity to solve a lot of problems. But we will have to actually do the work, regardless. It's not even going to make it easier, it will actually make it harder in some ways. But it will take away some really bad choices that we could make that have long term consequences that we just cannot pay. Or more accurately, consequences that we should not in good conscience put onto our children's shoulders.",
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