Originally published on Yours.org on May 28, 2018.
56 of #100DaysofSatoshiDoodles
“The answers you get depend on the questions you ask.” — Thomas S. Kuhn
Do NOT read the following unless you are okay with exposing yourself to the rambling brain-farts of an INFP-ish doodler. I intended to write a short blurb but it turned into a longer blurb.
I’m in the midst of some de-programming and outing myself as someone who has recently wandered over from the band of left-wing socialist-sympathizers (gasp!!) and stumbled into this camp of An-caps, Libertarians, and fans of free markets, who have strongly held views about economics and philosophy. You can imagine I’ve had to wrestle with a great deal of cognitive dissonance in the last six months.
In contrast to many early Bitcoiners, most people –due to lack of education, exposure, and/or motivation– have not ever thoughtfully questioned the economic theories upon which our entire legacy financial system is based. This is obviously not an accident. The school system, mainstream media, and “the powers that be” are opposed to exposing the public to ideas that will potentially turn the status quo upside down. Capitalists are portrayed as being greedy. Anarchy = chaos, without further inquiry.
The tendency to appeal to authority and follow the herd is heavily ingrained in the thinking of the masses. In other news, popular music is popular! (And, your vote matters. /s)
Although the majority of bitcoins has already been mined, a redistribution to facilitate global adoption is in progress. The name of the game is to onboard as many people as possible who do not yet own Bitcoin (Cash), as quickly as possible. It’s a weird sort of marathon-sprint. See: the Bitcoin Cash Fund. (And Bitcoin.com.)
We’ll see much more FUD (Fear, Uncertainty, Doubt) in the coming years, to discourage the complacent average Joe and Jill from investigating the reasons for the war on cash and this new form of electronic cash.
[Aside: Being “into” Bitcoin is like taking off the rose-coloured glasses. The only tv show that I sometimes watch online is sponsored by Interac Flash, and is peppered with ads for VISA. (Use your VISA card for rewards such as “cash-back”, and complimentary breakfast plus late check-out at hotels! Of course, merchant fees and charge-back rates are hidden, unless you are the merchant.) During the last Christmas break, on the rare occasion that I watch a movie in a theatre, there were story-like ads for both VISA and Interac payment services. These high-budget ad campaigns are not unexpected in the context of Bitcoin encroaching upon the mindshare and investment strategies of the future early and late majority.]
The reasons for the next waves of people to adopt Bitcoin as cash will be different from the principled innovators and earliest adopters. Merchants will be motivated by profits, and their customers will be motivated by discounts (e.g. Purse.io) plus the hip “shiny new object” factor.
Millennials have already figured out that buying into the financial system that their grandparents’ generation left for them is neither cool nor advantageous (unless you are already fiat-wealthy). BCH, with so much cutting-edge ecosystem development (although not according to “Corean” propaganda), is already becoming the new BTC (not literally).
I’m still struggling with imagining the future, on a national –for as long as national borders exist!– and global level. Change is hard but inevitable. I don’t think most people are ready to entertain the notion of a voluntary society with no government authority. Canadians will have very different questions from Venezuelans about the role of government in matters of the economy.
For example, what would a transition from tax-payer funded universal health care to a privately-run model look like? Who would get left behind?
How do we deal with the legacy of violence and abuse resulting from government-enacted policies such as residential schools on communities of indigenous peoples? Should the children and grandchildren born into traumatized families be expected to pull themselves out of poverty without external supports?
What would be the impact on sensitive habitats and endangered species if environmental regulations were eliminated? Would the CEOs of corporations actually take responsibility for the consequences of their actions (air pollution, oil spills, tailings ponds, etc.)?
Will the disproportionate amount of bitcoins in the hands of the earliest adopters be redistributed to an adequate degree for Bitcoin Cash to become the world’s next best sound money???
The movement towards adoption of Bitcoin Cash will need to retain an open-minded and inclusive attitude when on-boarding the masses, along with *all of the questions*. Fortunately, we are not supporting the use of censorship to silence dissenting ideas. Let’s keep the conversation flowing.