Doc's Daily Commentary

Mind Of Mav

Why Bitcoin Is The New Form Of Money

itcoin has been birthed by the Mystic of Modern Money, Satoshi Nakamoto, on January 3rd, 2009. Around 18,6 million are mined, that’s 88,84% of the total of 21 million.

Roughly 4 million are lost. I wonder how many phones went down the toilet and the owners didn’t back up their private key. Every day, 900 new Bitcoins see the light. This volume will decrease through halvings, until 2140, the end of Bitcoin?

Absolutely not.

Miners keep on mining since they will still receive a transaction fee for each block. Bitcoin will represent a closed economy.

When decentralization is the future and we are moving towards a network driven society run on Apps, Bitcoin is potentially the super App of money

And yet, it faces difficulty in scaling, speed of transaction and security. It also has to deal with the constant black mouthing of the corporate-owned cartel of media. Its recent explosive price rise has silenced them. For now. Some argue that quantum computing can become a threat to this network, others claim that Bitcoin can’t guarantee the anonymity of its users. Or What about China doing a 51% attack?

Taking all this into account, here are 5 predictions for Bitcoin for this decade and the reason it will be the worlds super App of Money in 2030, controlled by you, and you alone.

The pending economic system collapse will have a big impact on Bitcoin

The most imminent opportunity for Bitcoin to become more mainstream and silence its criticasters forever is the pending economic systemic change

For the simple reason that it offers a safe-haven for your wealth and money. But not only that.

Imagine money will be cancelled altogether in the form we know it today. A literal reset, where debts will be redeemed, basic incomes will be introduced, and you’ll be happy owning nothing. (?)

You’ll be happy owning some bitcoin since it’s the perfect digital neutral means of exchange. Corporate States and Governments are increasingly running our lives. You probably noticed. Since all money will become digital, it will be the perfect tool for total control. Bad behaviour? No Money. Brrr.

Not when you opt-out, exit the system, join the happy free people that chose to live in love, not fear.

My prediction in 2019 was this:

“When the crisis hits the fan in 2020 or latest 2021, millions will take the effort to educate themselves and move their investments in Bitcoin and some other trusted coins”

The exodus already started. Most people are in for a price win, but after educating themselves they will start to understand the real Prophecy of Bitcoin

The poor and the unbanked will save the world

In Bitcoin’s roadmap towards global mass adoption, the unbanked pave the way.

Bitcoin is the worlds best safe-haven currency. Africa, South America and countries like Iran are paving the way for years now when it comes to using Bitcoin as a hedge against their Governments casting currency wars on their own population.

Back in 2019, I talked about how “the poor will save the world.”

What I meant is that Bitcoin real-life adoption first will break through to the 1.7 billion unbanked in the world. While they struggle to survive, hyperinflation dynamics make them realize they’re hustling backwards, and Bitcoin is the way out.

There are 900 million smartphones in Africa. Many have skipped the traditional banking route altogether and jumped straight into Bitcoin.

Africa has a growing generation of adaptable young professionals and would-be entrepreneurs. High unemployment in many African countries means young people are skirting traditional sectors and exploring new ways to make money. Trading and owning some Satoshi’s is a very popular way.

Estimates show that of the top 10 countries for trading volumes, Nigeria ranked third place after the US and Russia in 2020, generating more than $400m worth of transactions, with 1.1 million worth of transactions each month on the Paxful platform — BBC

This process might accelerate at the moment most Western people might get unbanked soon, meaning we lose our autonomous freedom around owning our money. This really starts when you’ll read headlines like; Cash Banned because of Covid. Or; No Vaccine, No Bank. Or what about cancelling your bank account when you don’t wear a mouth cap in a bank? Already happening, folks.

China is testing its state-run Yuan in multiple cities. India banned Bitcoin last week and the list goes on.

The more banning, censoring, blacklisting, social shaming, social crediting and other Autocratic total control behaviour, the more real-life adoption Bitcoin will experience.

People are not crazy. Bitcoin is a hedge against the craziness and inequality of this world.

Bitcoin will lose its volatility

For Bitcoin to become mainstream, Bitcoin must grow in adulthood, beyond its volatility

For Bitcoin to become mainstream, it needs to lose its high volatility.

Lets assume it will be digital cash one day, which I doubt. You can’t order a coffee priced at $2,50, get your wallet, pay and oeps, the price just went up to $3 because Bitcoin shot up to $3.000,- in a second.

Bitcoin can’t be a roller coaster forever.

When the above-mentioned scenario plays out, and one part of the world’s population is heading towards a 1984 Dystopian Nightmare since they don’t care to exchange their freedom for false safety, the other part will enter from sheer financial survival, needing a means of digital exchange that they own.

Many of them will initially become Bitcoin Hodlers. When the price rises exponentially, people Hold on to their Bitcoin, especially in uncertain economic times as these.

By the way, even in 10, 50 or 100 years from now, people will be able to buy a tiny part of a Bitcoin. You most literally can own 0,00000001 Bitcoin. Purchasing Bitcoin and paying with it will always remain possible. This will make Bitcoin become a closed economy.

Bitcoin will soon become a new money Utopia within a failing controlled Dystopia

Bitcoin will become the digital gold

When you decide to hold on to your Bitcoin, you will own a piece of the digital gold of the future.

I believe Bitcoin won’t be the future of digital cash, it will the digital gold of the future, which on top other cryptos will serve the function of non-controllable anonymous save digital cash

This is why.

Gold used to be the backup for our ‘old’ money. At some point in history that gold standard has been let go of, resulting in the infinite printing of money by federal reserves and other financial institutions. Infinite money printing is the black hole of our old economy that eventually will suck us all in. Apart from the people that left the spaceship and are free-floating in the crypto space right now. Bitcoin is a scarce asset. The Bitcoin money press will be closed around 2140 when the last miners solve the last puzzle that will be insanely difficult.

This story is not about predicting the future in 2140, but my wild guess is that Bitcoin will by then be incredibly stable and will function as the digital gold for many other cryptocurrencies that by then have long solved problems like scalability, speed of transaction, safety and anonymity.

Why do we need digital gold?

For the same reason, we needed physical or mineral gold. To have an anchor of value for something that is just paper that has no intrinsic value in itself.

Anybody can create a token these days and sell it for the future of money

But when your value is expressed in Bitcoin, you anchor it in real digital value, a fixed price that has been accepted as a digital standard in the new arising landscape of digital money.

In 2030, Bitcoin will be well on its way to becoming that store of value. Still less than 100 years short, but other Crypto in the space will start to become the outline of real usable content type money transferred in networks and expressed in Apps and wallets on your phone or other digital devices of the future.

They will all be expressed in the value of Bitcoin, since our current money system has shrunk to a museum ready artefact

Education will be key for further mainstream adoption

In the disruptive years to come, one thing will become key for the further adoption of Bitcoin and its growth into adulthood: Education.

Can you imagine teachers teaching children in schools about Bitcoin? I can.

Our current system of money has never been really transparent. Did you ever ask yourself why in school we never completely learned how this system really works?

My wild guess is because there is too much hidden away in that system that can’t really bear the daylight, let alone let loose on the pure hearts and minds of young children that step innocent in a world that is, till this present day, dominated by money, corruption, perverse incentives and extracting wealth at the expense of others and the commons.

When I was young, I really believed banks stored 30% of the money they lent to people in big vaults under their buildings. Commercials on TV about mortgages or loans where brought from a seemingly government-controlled bank whose sole function was to make our lives better and serve the commons.

We know now that money controls governments.

Happily, a huge purging of truth about the reality of our money system has seen the light in our Covid crisis. And about other hidden things too. It’s darkest secret broke through the maze of indoctrination, narrative warfare and mass hypnosis: the fact that billions of people and hundreds of countries have indebted themselves and thus have become slaves to the system of money. This will change. There is nothing to hide about the movement of decentralization. It emerged from open-source culture and one of its gifts for humanity is the exact opposite of its predecessor: Transparency

My prediction is that sooner than later Crypto, Blockchain technology and Bitcoin will be taught in schools. This will come forth from the claim of people for truth, for transparency and the need to embrace higher values.

Bitcoin has nothing to hide. The revolution of money has only just begun. Are you joining?

The ReadySetCrypto "Three Token Pillars" Community Portfolio (V3)

 

Add your vote to the V3 Portfolio (Phase 3) by clicking here.

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What is the goal of this portfolio?

The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
Pillars of ReadySetCrypto. We aim to Capitalise on the collective knowledge and experience of the RSC
community & build model portfolios containing the premier companies and projects
in the industry and manage risk allocation suitable for as many people as
possible.

The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

Our Current Allocation As Of Phase Three:

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The ReadySetCrypto "Top Ten Crypto" Community Portfolio (V4)

 

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What is the goal of this portfolio? 

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.
 
This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.
 
To give an update on the position, each one listed in low to high relative risk:
 
SoV/money == BTC, DCR
Platforms == ETH, XTZ
Private Money == XMR / ZEC / ZEN
DeFi == MKR / SNX and stablecoins
 
It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

Current Top 10 Rankings:

 

 

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