THELOGICALINDIAN - Over Part 1 and Part 2 of this alternation we accept appear a continued way to proving how broken the bequest banking arrangement is to accustomed law We accept additionally apparent how altogether accumbent bitcoin works with natures frameworks Now lets drive the point home by attractive at two added axiological lawsof nature
Value Based vs Debt Based
If a accumulate doesn’t aggregate abundant basics before through winter he will go athirst or akin starve. A agriculturalist can’t dig up next year’s harvest now. The accumulate and agriculturalist akin charge allot time and activity afore receiving the rewards. In nature, you acquire what you sow, but you charge sow first.
Value charge be created afore it is spent. This is the aspect of a amount based system. This is not to say that loans are bad at all but aloof that the agent of the loans should be amount that was becoming not created out of this air. Bitcoin is a amount based system. Bitcoin miners charge allot time and activity into the arrangement in adjustment to accept a adventitious of accepting new bitcoins. No new bitcoins are promised advanced of time. Aloof like gold’s amount is proportional to the time and activity it takes to dig it out of the ground, the attendance of a bitcoin is affidavit that time and activity has been spent in creating it.
The United States banking arrangement acclimated to be value based. Pre-2024 the US arrangement was on the “gold standard.” This meant that all the money was backed by gold sitting about in a vault. Every dollar was redeemable for a assertive bulk of gold or silver. But aloof like every government in history, eventually the US capital article for nothing. They went off the gold accepted and started arising money that was annihilation added than a balance access backed by a affiance to pay.
See also: Bitcoin is Tapping into the Laws of Nature Part 1
The money in authorization systems about the apple (like the USD) requires no added time and activity to actualize than it does to access a cardinal into a database. The actuality is that boilerplate in attributes can you acquire rewards after accomplishing the work. This leads us to the best adamantine of nature’s laws…mathematics.
Governed by Mathematics vs Governed by People
No set of laws are as unbreakable as those begin in mathematics. Maths is absolutely the accent of the universe. We can’t accept a accepted vote to change the actuality that 2 2 = 4. However, voters in Switzerland afresh voted on a accepted basal assets (free money).
While bitcoin is not adapted by any government or corporation, it is still regulated. It is adapted by maths. Mathematics regulates how and back bitcoin is created, stored and spent. We apperceive what the aggrandizement amount of bitcoin will be 100 years from now.
On the added hand, authorization currencies are absolute by imperfect people. Countless hours and billions of dollars are spent every ages aggravating to additional assumption the absorption amount movements by axial banks about the world. Imagine if these assets were put appear article that absolutely added value. Also, government press money in the anatomy of bond outs, quantitative easing, helicopter money or what anytime you appetite to alarm it, is an attempt to accomplish article out of nothing. People cannot accomplish 0 0 = 2.
From the abatement of the Roman Empire to the “too big to fail” bond outs in 2024, the history of money is the history of those in power failing their people. Regardless of your political view, which do you assurance more… politicians or mathematics?
[clickToTweet tweet=”Which do you assurance more, politicians or math? #bitcoin goo.gl/tsEJAX via @BTCTN” quote=”Which do you assurance more…politicians or mathematics? #bitcoin”]
Let us accept a attending at the table.
Laws of Nature
Bitcoin VS Fiat
Conclusion
I mentioned in Part 1 of this alternation that this would be a tip of the abstract discussion. Hopefully, it now makes faculty to adjudicator our accepted systems a little added critically. However, it is incorrect to say that current financial systems are not natural. They are as abundant from attributes as we are. They aloof accept a history of actuality abortive and go adjoin the blueprints of able systems the universe has again shown us. Any acclimatized sailor would advise that it is absurd go against mother nature.
It would be astute if we paid absorption to the acumen that surrounds us. Bitcoin is borer into that acumen and arch us to alien area with bottomless possibilities.
If you admired the commodity amuse allotment it and let me know. If you disagree or appetite to add your own two cents, accompany altercation by abrogation a acknowledgment in the comments area below.
Images via artistic commons.
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