Crypto anarchism and philosophy of finance.

Looking around this subreddit at the negativity I ask myself why people are interested in crypto... there's so much panic and uncertainty. Where are my diamond handers? It seems like a lot of people here are basing their success or frustrations on getting fiat rich rather than be a part of a better financial system.

The fiat system is a system which provides no benefit to the average person. You are literally legally compelled to use it. So forgive me for being preachy. I don't like being controlled. I'm more than optimistic about crypto... and maybe it worth explaining why I've been interested in crypto for years.

I miss the times when coming onto Reddit was fun because of the community spirit. The HODL. It's more like a depressing version of wallstreetbets in here right now. Nobody's here for the technology, the philosophy or the freedom. It's like CNBC in here! Where's all the people who used to point out the flaws of the fiat financial system?

Are you guys here to make fiat?! Maybe it's just the newbies. Did the diamond handers achieve financial freedom and stop browsing Reddit? Maybe people just got jaded because they weren't prepared for a harsh bear market winter. So here we go. Old HODLers probably don't need to read this...

The whole point of cryptocurrency is to eliminate the need for a “third party” to validate transactions and money. Why is that important? Freedom. And judging by the way the US currently regards crypto the country is not as free as their cultural narrative would like you to believe.

Back to basics. Why is BTC digital gold? ... Where does this association come from? Well the gold standard is dead in traditional finance. They killed the gold standard in order to freely finance rapidly escalating military expenditure, due to its propensity for volatility, as well as the constraints it imposed on governments.

The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold. With the gold standard, countries agreed to convert paper money into a fixed amount of gold. The gold standard was completely replaced by fiat money, a term to describe currency that is used because of a government's order, or fiat, that the currency must be accepted as a means of payment. Source: https://www.investopedia.com/ask/answers/09/gold-standard.asp

The appeal of a gold standard is that it arrests control of the issuance of money out of the hands of imperfect human beings. With the physical quantity of gold acting as a limit to that issuance, a society can follow a simple rule to avoid the evils of inflation. The goal of monetary policy is not just to prevent inflation, but also deflation, and to help promote a stable monetary environment in which full employment can be achieved.

Have you noticed how this sounds like the FED's role? Would it be necessary if the gold standard was still alive?

Money is the glue that keeps society together. Commodity money is money whose value comes from a commodity of which it is made. Commodity money consists of objects having value or use in themselves (intrinsic value) as well as their value in buying goods. This is in contrast to representative money, which has no intrinsic value but represents something of value such as gold or silver, in which it can be exchanged, and fiat money, which derives its value from having been established as money by government regulation. Source: https://en.wikipedia.org/wiki/Commodity_money

Regulation. A word that is coming up more and more into the crypto space. BTC is more than a hedge against inflation. It's the return to a gold standard. A digital gold standard. With no requirement for regulation. Hence why regulators can't touch Bitcoin.

Everybody is so wrapped up in altcoin investment they don't realise that the greatest utility of any altcoin is accumulating more digital gold ... aka BTC.

Yeah, I went there. Let's get BTC maxi. Ethereum is useful. Yeah it's more deflationary than ever before... Yada yada. Is it supply capped? No. So it's not future proof. The consensus mechanism, staking rewards, burn rates can all be adjusted. It's not the system that avoids having a third party governing it. Regulating it. Controlling and manipulating the supply. Like fiat.

So is this a BTC maxi post? Not really... it's more of an attempt to clear up some confusion. To get people to see the bigger picture. How many times have you seen people explain their crypto portfolios and it's 50% BTC. Why do you think that is?! Rather than selling crypto for fiat it should be a goal to keep wealth in the new (digital) gold standard.

It's not surprising that BTC dominance has jumped up to roughly 50% ... that is the foundations to build a healthy crypto market! This is the tasty burger! There's so much focus in here on altcoins which collectively represent less than 10% of total market cap. So much fear of getting a big L and holding a red bag. Now is not the time to invest in alts - they are all shitcoins right now.

Consider sorting your portfolio out. Get into BTC. If you've got stocks and shares that's great, good for you I'm not making this post for you. This post is for the disillusioned, the people who weren't here for the philosophy behind BTC. The people who think BTC will be replaced or that something better will come along. The people who wanted to invest in altcoins to get fiat rich as if this were a bull market. Not yet my friends... be patient and HODL the bitcoin.

We don't need to reinvent the wheel here. And it is about sending a message. BTC pumped like crazy during the recent baking crisis. Because the fiat system is flawed. It's the most manipulated system, a grandiose zero sum game where your wealth is dribbled away to inflation. And if you ever want to actually purchase something real you have to borrow from a bank in a debt based system running on fumes due to fractional reserve banking. It's the system we use to get our pay checks, buy groceries and keep the lights on.

I love a good rant. Time to get off my soap box.