A CURRENCY WHICH IS FREE OF GOVERNMENT CONTROL, AND IMPERVIOUS TO INFLATION.
Imagine a new Internet which was truly decentralized, in which every computer was a server, sending and receiving files
It is not just an idle dream; this is achievable now. Through Namecoin
, a new World Wide Web could be created which was censorship proof, and also tradeable. While browsing on this platform, imagine that every artefact that you encountered -- be it GIF, JPG, MP3, or even a snippet of poetry -- had its own mediachain
, detailing its origin and its intellectual property rights. Smart browsers
could skip over intrusive cookies and ads, and would allow you to tip the creators of content which enriched your life. Data pirates like Google could be superseded by Teal-colored DAOs
: cut out the middlemen; reward directly content creators! Mind you, it is possible that a content creator could be your toaster, or a thermostat in Siberia! As Jaron Lanier opined, every gadget deserves to profit. That said, even a toaster can crash the Internet.
It goes beyond the Internet. Smart contracts
could replace lawyers. Your public key could become your passport, and the store of your reputation. Worried about sweatshop labor conditions? Imagine if you could see the factory where your sneakers were made, just by scanning its barcode.
Create a virtual nation with likeminded others, backed by your own virtual gold standard
. The world's your oyster. BitNation
is coming. If you want to stick with your old country, Futarchy might become the norm.
Have you ever wanted to play the markets, but didn't have the necessary capital to get started? Bitcoin makes this possible
. Circumventing currency controls is easy too.
It is your money, you should be able to hide it or use it as you will, without fear of being robbed, or spied upon.
Web 3.0: A Primer
BITCOIN IS AS REVOLUTIONARY as the Model T Ford, the Space Shuttle or the Internet. However, while those great breakthroughs were explosive in nature, Bitcoin is implosive
As one visionary
has written: "A liquid can be supercooled into a state that can support crystals, but no crystals form because there are no initial crystals that the liquid particles can attach to. However, once a tiny impurity, or 'seed' is introduced into the liquid, a crystal will form around it and grow quickly until the liquid has been absorbed. By this metaphor, the supercooled liquid is the world as of a few years ago, ripe for a monetary revolution, and the seed is the initial bitcoin purchase."
As Jean Baurdillard explained, when a medium is supersaturated, it will collapse back on itself, and coalesce. Gasses will turn into liquids, and liquids become solids. It takes but the smallest spark to set off this remarkable transformation. Ever since the terrorist attacks of September 11, we have been moving into a world where more is less
, and less is more
. For example, when the World Wide Web (WWW) appeared in the early 1990s, there weren't so many websites to visit at first. It took five minutes to load a simple image, but that didn't really matter. The thrill was in surfing from site to site, reveling in the opportunities this new medium offered. Just sending an email to the webmaster in a distant continent was a fascinating experience. As the decade drew to a close and the audience grew exponentially, Big Money moved into the scene. That was the end of Web 1.0, you might say. There was a frantic rush for profitable domain names, bloggers became influencers, and with the arrival of Google on the scene in early 2000s, any idiot could plaster his or her website with ads, and make some money.
Come the 2020s, the gold rush is long over. Some of those original sites might still exist, but they have been drowned out in the explosion of the Web. Few visitors care about how old they are, or how they were pioneers. Whatever traffic they receive needs to be jealously guarded, because competition is so tight. You need the ingenuity of a Neil Patel
to stay relevant, and even then, I believe he would probably find life easier if he just bought some Bitcoin, instead of continually reinventing himself. Hustling is hard work... but hodling
My point is this: websites are dime a dozen these days, and there are no benefits for being an early adopter. Web 1.0 was a volunteer effort, and not even its inventor earned fuckall from it.
When Bitcoin goes mainstream, it will be strange to live in a world where prices go down, not up. Value will be diced into ever more microscopic units, instead of ballooning into the stratosphere. In a Baudrillardian way, it is perfectly appropriate. Bitcoin is the perfect currency for the Age of Implosion.
The world is now outgrowing the US dollar in terms of scale, but still uses it as the global currency
. The dollar has eaten all of its competitors, and it is about to eat itself.
The Network Effect
BITCOIN IS NOT only a currency, it is a network. It is an implosive
network at that, collapsing uncontrollably into interior space.
There are not one, but seven Bitcoin network effects
My premise is this: technology is the biggest driver of social change. When humans invent new tech that is better than the older tech, the newer tech takes over.
» Liquid Democracy
THE DOMAIN Name System (DNS) is a hierarchical naming system for computers, services, or other resources connected to the Internet or a private network. It translates human-friendly domain names, such as http://www.crowdedworld.com, into the IP addresses, such as 192.0.2.1, that computers use to identify each other on the network. This makes it easier for people to access resources on the Internet and private networks, as they can remember and type a name rather than a string of numbers.
A decentralized DNS is a system in which the management and control of the DNS is distributed among multiple entities, rather than being centralized under a single organization or group. This allows for greater security, privacy, and censorship resistance, as there is no single point of control or failure.
One example of decentralized DNS is the Ethereum Name Service (ENS), which is a decentralized domain name system built on the Ethereum blockchain. It allows users to register and manage domain names ending in .eth, and can be used to resolve human-readable names to Ethereum addresses, such as cryptocurrency wallets or smart contract addresses.
» Zero Net
DISTRIBUTED AUTONOMOUS CORPORATIONS
» Best Bitcoin Exchange
Tips for investing here
In every transaction, a hash is created with a time stamp, nonce and other details.
Unfortunately, the cryptosphere is crowded with scams.
» Pump & Dumps
I HAVE developed an algorithm to predict the price of Bitcoin compared to the US dollar, and other assets. Generally, my premise is that the basic value of Bitcoin doubles every year, or 6% per month to be more precise. But depending on the mood of the market, the price can rise up to 1200% above the basic value at any time... (to read more, click here
UNIVERSAL BASIC INCOME
IN RECENT YEARS, ACTIVISTS AND SOCIAL CAMPAIGNERS HAVE SUGGESTED THE CREATION OF A UNIVERSAL BASIC INCOME
TO AMELIORATE THE EFFECTS OF AUTOMATION IN THE WORKFORCE. It is a noble idea, but there is one problem: what government can afford to pay for it, especially once they start losing control of money supply? However, What if you could monetize the activities of your ordinary life, such as performing searches on the Internet, or driving to the beach? According to its whitepaper, the Ubex platform
will enable the owners of websites who prove statistical data for training of the system core, to receive UBEX Tokens as a reward for their actions (similar to mining). In fact, 5% of the income from all Ubex transactions will be distributed to data providers. The Ocean Protocol
aims to create a marketplace where citizens and corporations alike can trade data, thus ending the monopoly of "data barons" such as Google and Facebook.
RECOMMENDED WEBSITES & WEBLOGS
Brave New Coin
Coin Market Cap
Elliptic (Security & Compliance)
The Mises Circle