TD₿: Bitcoin is the Economic Singularity by Ryan Dickherber

TL;DR Bitcoin will cause the world to become more productive and more efficient due to its deflationary nature.

Jul 01, 2022

Hey Bitcoiners,

It’s always a fun thought experiment to think about how Bitcoin will potentially shape the world and influence human behavior in the future.

Bitcoin fixes a lot of things such as improving the current cross-border payment system and protecting its users against hyperinflation and censorship, but that’s not where it ends.

The most interesting change Bitcoin will enable is that, now that there’s a real cost of capital, people will become more thoughtful about how they spend their savings. Since their money will increase in purchasing power over time instead of losing value, individuals will only part with their money for worthy endeavors that produce real value for the world.

In my opinion, the knock-on effects of this will be profound, since it will be extremely difficult to finance things that are a huge waste of time, human resources, and money, such as wars. As a result, the world become a much more productive and efficient place.

This blog post was written all the way back in 2011 by a prescient man who envisioned the second and third-order effects of Bitcoin before most people had even heard about it (06/07/2011).

The beauty of Bitcoin is no one can inflate it too. If you are not productive with your capital, it will be distributed to people who are, creating a virtuous cycle where the money ends up in the hands of the most capable in our society.

Either you save your bitcoin, or you put it to work and create real value in the world, or you lose it. There is no Cantillon Effect in Bitcoin. There are no bailouts here.

This is how Bitcoin will drive humanity forward.

Tick tock next block,
Cory Klippsten

Quote of the Day

“A War on Bitcoin would have exactly as much efficacy as the War on Drugs: none.” - Ryan Dickherber, Bitcoiner

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