Bitcoin, and other cryptocurrencies are a great example of how people think that money itself is the goal, and not the power, goods, and services that money represents. Money is worthless if it can't get you food, or can't be used to pay rent. Similarly, creating money doesn't just take power away from those who have it. Bitcoin does not take the means of production away from those who control it.
Bitcoin AND bank money at the same time!...
So I'll admit I might be confused (so that's disclaimer done) but happy to work it out...
I could be right in saying the word money is used interchangeably here either by me reading it that way, by reader, and / or yourself... so that's just 1 thing I'm aware of mostly for myself and yourself while going on to the next main point
The main point for me and value added I hope:
Nobody means to say use bitcoin only. Bitcoin AND bank money can work together and needs that for any transition so that's ok.
If agreed on not disagreeable then...
Using something elsewhere, means the power or traffic is somewhat taken away from banks (by not having transaction profits there or profiting in terms of regulating people actions...
#Putin #Russia #Ukraine #UkraineRussianWar #Everywhere #War
so i.e. people are using Bank's monopoly less and therefore dividing the flow which doesn't have to pretend it's a whole solution but the fact it's doing what it's doing away from banks is in itself a bit of proof of the concept splitting monopoly elsewhere (however much big or small no need think about it that way).
But if you do want to thinking about in terms of buying items online or expecting something to replace everything right away... then you might be pleasantly surprised ! Similar to how paypal or something wouldn't be for groceries at the start well it's happening already. So food not so much (yet) and a quick example would be (e.g Tesco's online delivery serive for example accepting paypal online) but anyway people have crazily (even banks) started accepting bitcoin so without speaking on their behalf and using their actions they seem to confirm it's credibility and act FAST (it's a bit shocking to be honest for an old-looking system to act). So something is in that and they allow either payment to them and/or others without me trying to do any more advertising them or bitcoin to shove any cake in their already fat cake holes.
EXAMPLE FACTS SUPPORT THIS even though I'm not a big fan of bitcoin here I just like note taking and thinking about things that are 'not the same old crisis makers and swindlers beding us over again'!
(Disclaimer: Numbers or facts could be or +/- since these 2021/2022 facts)
Last year OCT 2021 - Record-breaking transactions, 4 days in a row.
About 30billion per day circulating between users (That's 4 x 30billion sent around world within ~8 days)
This is not counting the normal transaction days i.e the other days of the year outside that week.
El Salvador legalizes bitcoin (2021)
2.1 million #Salvadorans ACTIVELY used @chivowallet (not just downloads) in first 3 weeks.
- More users than any bank account users in #El Salvador.
- 30% of the whole country used bitcoin.
- ALL THE ABOVE happened in less than 3 weeks of bitcoin being in operation.
Bitcoin is accepted by a keymaker in Sri Lanka!
(just a joke fact! But saw the video on it in passing so this is for fun and who knows - but for anyone to know what it is on ground level is more amazing than people not knowing what money is... for all their life - ask your mum and see what she says ! Sorry tongue in cheek here and also real-world test to prove while working for money, talking about how important it is and consuming it people can know literally 0 / nothing about it and I think financial systems hope for that. In an economics degree it's even not mentioned more than a few lines how money is made - Peter Joseph paraphrased so now wonder politician and everyone else don't know, it's the world best kept assumption / ignorance / whatver people think it is and where it comes from... poof)
Ukraine is the latest country to legalize it.
Bitcoin has open public accounting system - any time public lookup
And stats live which say how much is in circulation
SOURCE: Simply bitcoin 2021 episode:
Official Inflation Narrative TOTAL COLLAPSE 3
https://bitcointv.com/w/c3f2ce2c-43ef-4596-8d65-a602668b201e
OVERALL SUMMARY RESPONSE
You said people think money itself is the goal...
- Seems partially it is when it's the power to create that Banks can do and abuse / dilute / devalue / inflate ...
- bitcoin is seen much more transparently and has a philosophy with it (what' the banks philosophy?)
- what's going on is a search for trust and transparency (or that's one part, again not all or nothing use both). Called it avoiding fat-cat-cheating which has had taxpayers had to rescue banks (bailout) from a 2008 crash and ongoing when the banks looked at us, the public, and said 'we have no money'
(paraphrased... I think!)
https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008
- #Bitcoin or the power to create / self-manage is the very point (although it may not be in some traditional sense for goods but anyway as I write this it is literally becoming so with uptake even by banks which make your comments a bit old already - not that old is bad but shows what you think about good, food, services is already happening and was even between users and now more infrastructural)
- Power admittedly 'could be' seen as taking away those that have if you consider and agree that people doing something away from an existing monopolising type system or copy of a similar currency is not longer being used as much and somewhere else. At least power (control of the currency, transactions cost in your kitty, tracking movements, insider trading) are less.
Lastly. Just reminder you said:
"Bitcoin, and other cryptocurrencies are a great example of how people think that money itself is the goal, and not the power, goods, and services that money represents. Money is worthless if it can't get you food, or can't be used to pay rent. Similarly, creating money doesn't just take power away from those who have it. Bitcoin does not take the means of production away from those who control it.
And quick pic just as a bonus.
Boost if you like it.
Picture reads: Technology, Philosophy, Economics, Finance, Memes (Bitcoin)
I'd cut the 'Memes' from the spider diagram but actually it's really helped and looking at some #bitcoin posts the picture or parallels help explain 'why not banks' as well as MAYBE reading more about bitcoin and what it can do really well and what's worth going for in this or things for the future.
Hope you enjoy. Appreciate it might take you a while to read.
