Bitcoin spawns strong emotions in people, once they wrap their minds around it. And for good reason, of course: Bitcoin is the future, being born in our midst.
One of the ways this goes off the rails, however, is when people think about Bitcoin in the old way. In particular, they think of the crypto-economy as if it were a zero-sum game. They fear the altcoins (Litecoin, Ethereum and the rest) as competitors… that if the altcoins do well, they’ll steal Bitcoin’s thunder.
If you’re ever tempted to think that way, please reject it and leave it behind. That’s the past struggling against the future, right inside your head.
What we are building is not a monument to Bitcoin and Satoshi, but a new economy… a better, freer, less criminal economy. And please understand, Bitcoin alone cannot do the job. Bitcoin isn’t magic; it’s a tool.
The value of all BTC in existence is $66 billion or so. That’s tiny compared to any major currency. Also consider that the Visa system handles tens of thousands of transactions per second. Bitcoin itself is never going to do that – it’s not that kind of system. Other cryptocurrencies will have to be built for that purpose… or, more likely, they’ll solve that problem in new ways.
What is required is to build a new crypto-economy around Bitcoin. That is where we should be headed, and it will be very good for Bitcoin, which will end up as the central settlement currency between all the new, more specialized cryptocurrencies.
And so, if we want Bitcoin to thrive… and, more importantly, if we want the crypto-economy to thrive… we should be promoting quality altcoins.
Yes, some of the altcoins are plainly scams. Some people will be burned by them. But the good ones are not only good, but necessary.
Check out the currencies you’ll help; make sure they are honest and properly managed. Find the best one or two you can and get involved if possible. (That’s how you’ll really know if they’re good or not.) After that, get busy putting them into the world.
Yes, make money on them if you can, but don’t ever let yourself get dragged into a money-primary mindset. That’s the old world re-asserting itself, with its scarcity-centric mentality. That’s what cryptocurrencies are leading us away from.
Start thinking the new way and start ditching the old way. Scarcity is dying, and one currency need not dominate all others.
If you love Bitcoin, start building a righteous, futuristic economy around it.
* * * * *
A book that generates comments like these, from actual readers, might be worth your time:
- I just finished reading The Breaking Dawn and found it to be one of the most thought-provoking, amazing books I have ever read… It will be hard to read another book now that I’ve read this book… I want everyone to read it.
- Such a tour de force, so many ideas. And I am amazed at the courage to write such a book, that challenges so many people’s conceptions.
- There were so many points where it was hard to read, I was so choked up.
- Holy moly! I was familiar with most of the themes presented in A Lodging of Wayfaring Men, but I am still trying to wrap my head around the concepts you presented at the end of this one.
* * * * *