Yesterday I suggested that we should avoid the new Bitcoin ETFs… because they are antithetical to the big picture underlying Bitcoin.
That big picture is harder to describe. It took me a full year of reading and thinking about Bitcoin before I could see it.
Today I’ll do my best to share it with you. And it starts with this…
We all use space-age technology every single day and think nothing of it.
Text messages fly across the country. We send 2.4 billion emails every single second. Satellites bounce data all across the globe.
Now we can do video chats with each other – just like the old Jetsons cartoon envisioned. We all walk around with a device in our pockets that can access the entire store of accumulated human knowledge instantly, from pretty much anywhere.
And this device can do almost anything we ask it to. It can give us navigational directions. It can send money to a friend. It can play music and movies. There’s an app for almost everything.
If that weren’t enough, we can now buy virtually any item made anywhere in the world online, including food, and it will show up in a box at our door step in short order.
All of this would look like magic to my grandfather who died in 1994.
Yet our core civic institutions are stuck in the Bronze Age. Governments… banks… all of them. They are dinosaurs.
Continue reading “The Bitcoin Vision”