As Two Dogs Quarrel, a Third Gets the Bone: Why I’m voting for the Bitcoin Third party

In the last decade, we’ve seen the Citizens United decision which decided to call money “speech” and consequently there were calls to “get money out of politics”. Actually it’s time to get money back into politics and since money is now speech <- follow this link or you won’t get it, money is the key to censorship resistance. Bitcoin has finally crossed the threshold into global awareness because of Libra and Facebook. But while watching yesterdays hearings presided over by Maxine Waters, it’s clear that they see Libra as being a far greater threat than bitcoin. I believe that this is a perceptual mistake in the short term.

source

The reality is that bitcoin is part of a much larger decades long trend in technology that has been disintermediating the middleman. The trend toward automation caused many to lose their jobs to computers and robots. It started at the bottom at the factory level, but has been climbing the middle management ladder ever since. Those who updated their skills stayed relevant by changing their jobs, but the Byzantine generals problem was solved 2008 which changed everything! When bitcoin demonstrated that it could work without a central authority, it also demonstrated that sustained anarchy is a possible political reality. It did this by making the job of authority or even the president itself “obsolete”.

In fact, if we can extend this solution from the special use case of money to smart contracts and legal constructs, we will no longer need any form of representation. It will be possible for everyone to directly present their own will using blockchain technology. However, this reality is far from apparent to everyone. A few at the top have understood this threat, but they are trying to keep cool despite shaking in their boots over it. Authority is very scared right now. They will try to project their fear onto you and make you afraid as well, and they will try to use your fear to re-centralize their power over you. Once Facebook gets the regulatory stamp of approval (read this if you don’t understand why it must), then it will be a two pronged fight again between decentralized crypto and centralized authority and there will be a race to seize the means of all production by centralized authority.

A very dark road awaits us if we continue the trend toward the digital panopticon that I’ve been warning about on this blog these past couple of years. The use of Facebook / Libra will lead to book of Revelations consequences. It’s highly probable that Libra will get the stamp of political approval once regulators and centralized big tech authority realize they will be flushed down the toilet by bitcoin without joining forces.

However, bitcoin also has a serious potential flaw which if exploited could lead to a future Bitcoin Core fork away from the original Bitcoin with addresses that begin with a “1”. A state actor may be politically motivated to begin this SegWit donations attack and scare everyone away from the solution so as to keep their authority relevant.

Meanwhile, the sui generis properties of bitcoin will cause it to grow exponentially and surprise everyone.

John McAfee said the following…

Listen, anybody with common sense, and who can add and subtract and multiply, actually can count the total transactions in the world every year. And look at the number of dollars and yen and British pounds and euros and Chinese yuan. So, that's about $2,000 trillion. There's only 21 million Bitcoins and actually 7 million of those are lost forever.

If Bitcoin were the only currency, it would be worth a trillion dollars per Bitcoin. Now, it's not the only currency.

Take the growth at this point, the number of users and the fact that it's going to be three times as large by the end of 2020. If it's not worth a million dollars, then something's wrong with math.

I can't lose this bet. It's not possible mathematically. Understand, the market is an artificial thing right now. As Bitcoin gets more and more utility, it will be less artificial and more real. And it's getting that way right now. So, to those that go “nah, that's impossible,” please go back to school and take fourth grade math — that's all you need. Figure it out.

So, just as congress turns bitcoin into an election issue, and congress gets egg on face as poetic justice for their handling of the 2008 financial crisis, bitcoin at least temporarily, becomes a means of increasing your voting power via proof of stake game theoretical campaign contributions to your own hardware wallet.

Then one day soon over a few weeks time bitcoin rises from its current range from around 3K to 15K, then up to 100K, then in a matter of days after that it will one day rise to $1 M USD. Bitcoin is already a national security issue. My hope is that it can send the parasites packing permanently, but realistically without Lightning Network success, bitcoin will see $1000 transaction fees for all on chain transactions. Once capital controls are in place, there may be no place in the physical world where you can spend this bitcoin. I hope this doesn't happen, but @anonymint's argument looks very sound to me.

How will you vote? As for me, I’m converting my George Washington notes to ones “1” on the blockchain.

---

---