FTX' AND IT'S TOKENS? ONCE AGAIN BTC IS NOT CRYPTO!

FTX AND ITS SHIT COINS DEBACLE WAS CALLED BY MALLARDSHEAD 6 MONTHS AGO.

Bitcoin is not "crypto". Bitcoin IS the breakthrough. "Crypto" (tokens, alts, all that) are only possible because Bitcoin showed it was possible.

Bitcoin is a network, a protocol, and a system of digital money that made one of the biggest breakthroughs in history - the invention of digital scarcity. It allowed a digital thing to be tied to the real world through quantifiable expenditure of energy (PoW). Bitcoin is a public utility that has no owners, no rulers, no backing of any state or corporation, and a conception that can never again be repeated in history.

"Cryptos" are "projects" that tackle "use cases", raise funding, have employees,CEO'S, board members, foundations, and can easily be censored by a state. 99.99% of crypto is created to enrich the creators, with retail as exit liquidity. All of them will trend to zero against Bitcoin.

Bitcoin is an alternative to central banking/modern monetary policy run by volunteers and can be used by anyone and everyone. It does not discriminate. It is a public good like the internet is for moving and storing information. The Bitcoin network is for moving and storing value.

"Crypto" is not much different from fintech companies except they use a slow and expensive database and print their own treasuries at the push of a button. Sure there might be some interesting use cases, but literally all of them can be done without a blockchain.

Understanding that Bitcoin is not crypto is just the first step. The deeper you go into that rabbit hole, the more questions you ask, the more you put Bitcoin under a microscope, the more mind-blowing it becomes.

Bitcoin is not "crypto".

I see Bitcoin, the internet, remote work, and proliferation of english (the language) composing to distribute away the power centers of nation states, banks, and corporations. Not sometime in the distant future either, rather around the end of this decade we'll see the EU alliance break, DAO's form in smaller African nations, and Palestine's imports match their exports.

It will become a real challenge for government's to levy taxes. I think we're starting to see this begin already. That means even more aggressive money printing and the militarization of tax agencies. It won't work though. Governments will have to incentivize their own citizens to pay taxes. And this will require projects of immense value with transparent accounting. The prestige politicians have enjoyed for so long will fade, as their powers get distributed to the people, and real solutions without symbolic affectation are required to govern.

When the Lightning Network is ready (nodes, liquidity, and user growth is currently parabolic), maybe by 2025, Bitcoin will enter its transaction phase. Whole coins won't be so much a thing as Satoshis or "SATS". The law of diminishing returns will have arrived. Gone will be the days of 1000x gains and large volatility. The gains will become smaller and slower. I expect this to begin at .01¢ SATS, which would correlate to a $1M bitcoin which would give the network the entire market cap of gold currently ($11T), still small, and we'll still see large gains until ♾/21M, but they'll be smaller and the dollar peg will fade.

A robust DeFi ecosystem will also be built on and around Bitcoin. That means smart contracts. The Taproot upgrade will kick this off in earnest which will only augment network effects and utility. Bitcoin adoption is growing at a faster global pace than the internet did in the 90s. One reason for this is because the infrastructure is already built. When "open source" satellites blanket the world, allowing a transaction in Patagonia or the Arctic as easily as NYC, government's can do what Elon Musk suggested they do when he was asked about regulation of Starlink over Afghanistan: "They can shake their fist at the sky."????

I posit Bitcoin will be man's final money, just as Artificial Intelligence (AI) will be man's final invention.

This is mostly due to the way bitcoin leverages energy, as Henry Ford and Thomas Edison crudely figured out 100 years ago in 1921. What most fail to realize is that the only physical currency in the world is energy. See, energy is required to have a standing military, to start a small business, for nation states to exist, for transportation, globalization, and maybe most importantly to communicate.

Bitcoin then, uses energy to guarantee an individual's property (BTC), and secure its network. This is much different than the approach POS consensus blockchains take. Their governance is a conversation everyone wants to side-step and pivot towards the other two parts of the blockchain trilemma they've solved. MONEY, has nothing to do with TPS, throughput, or tx cost. Those are all features of a blockchain. Many of us grew up under democracy and assume its angelic ideals are best applied everywhere. Well they're not—especially on blockchains aspiring for global adoption. The first problem is there's no way to know how many people own how many tokens, which makes the allocation of voting power impossible and unfair. Another problem is there's no way to curtail collusion. Another is that 50% of the world's population lives in two countries (China, India), and that percentage is only growing. Another is that voting is a skill. And after something is voted on and passed, token holders against the change(s) have no ability to opt-out. We won't even bother going into the tokenomics many of these projects boast.

Bitcoin does away with this nonsense by guaranteeing immutable rights, having fixed issuance, and tethering itself to the physical world by leveraging physical infrastructure, none more important than energy. Whether you have 1000 Bitcoin or 100 Satoshis doesn't matter. There's nothing one can do that the other cannot. There's no voting, no securing the network with staking, no special privileges, no collusion. And on the consensus layer, if a proposal is agreed upon by 51% of the hash, it's optional wether a miner wants to implement it or not, meaning they can opt-out.

Bitcoin's first attraction is greed, but below, it quietly disburses freedom and distributes away the center of power structures. Bitcoin pollutes the environment from an economy of scale (cheap electricity, access to capital), but below, it quietly incentivizes green energy, making it competitive regardless of fossil fuel affordability. The end result of this trojan horse is going to be fascinating to watch, and how fast it degrades nation states or finances sci-fi alternative energy projects might surprise some.

My judgement, a warning, and if you don't mind, a tinfoil hat.

All of this doesn't happen without manifesting very real problems during its transition phase, but whatever you're doing in life currently, it should be geared towards acquiring more bitcoin. I'd even suggest temporarily taking on a second job for the task. Now for the tinfoil hat:

As friction (technical difficulty) of wallets and hard wallets collapses, privacy and UI improvements will skyrocket. This means the first thing to break will be:

— World government's ability to levy taxes effectively, which will require an enormous increase in money printing, and the militarization of their tax collection agencies

— The second shoe to drop will be mass municipal bankruptcies, as cities are already crushed under the weight of pension debt which they carry in hopes of getting federal bailouts, because this debt is unserviceable and staring down the barrel of compound interest. With pensions gone, fireman, police, your water, teachers, parks and recreation will become unstable.

— Climate change. How will cities finance the infrastructure needed to combat worsening droughts, fires, and flooding? Much of the entire state of Florida for example (flattest US state) has serious flooding issues nobody wants to talk about. The entire lower half of the state's coastline needs projects totaling over $1T to combat sea-level rise effectively. This will all lead to migration and people on the move. Those global caravans traveling to Europe or El Norte through Mexico will number in the millions weekly.

— Healthcare, Social Security, and all social services collapse.

— The world rearranges itself rapidly, and those with the world's new reserve currency (bitcoin) remake it in their image and likeness.

Don't leave your blood on the streets. Maintain your health, keep a bicycle, buy a concealable weapon, and HODL bitcoin. You'll be fine. Good luck!

DO NOT BE WORRIED OVER THIS BTC PRICE DROP, IT WAS ANTICIPATED AND ALL WILL BE FINE! HODL ON AND TAKE A WALK IN NATURE.

Cheers