Gold has been the worldwide accepted store of value for humankind for millennia now and throughout the time we have had all sorts of money circulating in all sorts of forms. In the book The Bitcoin Standard it is very well portrayed in the history of money and how it has evolved, from the times of shells being used as units of account and exchange, to rocks, gold and silver coins, to paper and digital cash.
Friedrich Hayek once said that we will never have good money unless we take it from the hands of the government, through no matter what slay or roundabout manner, and how right the man was. No wonder he's been awarded a Nobel prize.
If money would have evolved at the pace the PCs have, we would probably be living now in a true era of abundance, a concept @taskmaster4450 has talked about many times on his blog. Unfortunately, money hasn't evolved much, but neither did we and our mentality towards money.
I was talking a few days ago with someone in his early 60's about Bitcoin and although he has heard about it he was leaning to believe it is nothing more than a ponzi, and no matter what arguments I would throw into the discussion to prove him wrong he'd served them back by simply saying it's not palpable.
Well, the way I see it, Bitcoin and some other cryptos out there are quite palpable. Let me tell you why...
When you look at the current form of money you realize is nothing but numbers on a computer screen with the printer created to be making more of such numbers out of thin air in the hands of the ultimate banksters(the FED). You literally can't touch that. Only they are in control over that printer.
With Bitcoin for example we're talking of a cap of 21 million coins, a cap that will NEVER be exceeded. Once the last bitcoin will be mined there won't be any possibility to create more, that's how Satoshi has designed it, so you tell me now, what's more palpable, our good old cash that can be printed away into oblivion or Bitcoin?
I was reading today on twitter that some Chinese "worth $48 billion" want to permanently leave China, but the regime is not allowing that to happen. Try that when owning Bitcoin or Hive, or whatever and tell me anyone can stop you from moving away from a country along with your entire wealth.
No one has to even know your worth, you can memorize your seed phrase and you're good to go. It's that easy. Now you tell me what's more palpable, the Chinese indirectly government owned $48 billion or some cryptocurrency that can be stored in a wallet that doesn't necesarly has to accompany you in a phisycal form?
Crypto is accessible worldwide, with small exceptions of course, but when we talk about palpable cash, to which my 60 years old friend was referring to, the equation of moving something that palpable and storing it... anywhere becomes a problem. There have been quite a few cases of rich Ukrainian families who have been caught at the border of Romania trying to cross it with millions in cash.
Imagine the explanations one has to offer for such an amount of cash hidden in a suitcase. Crossing the border with a ledger, or the seed phrase memorized, or saved on a cloud account, would have been like a walk in the park.
The code dictates the rules and the machines are executing it. I can't think of anything more relevant than that supporting the tangible aspect of cryptocurrencies. No type of money or assets has ever been able of offering the extreme ownership cryptocurrency is capable of. That's what I call tangible. What do you think?
Thanks for your attention,
Adrian
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