Chapter 20 - (S-V)
Sunday, August 20th, 2023, 3:20 p.m.
The only thing I have not gotten as granular as I would have wanted to with is how bitcoin works and why it is so important. The truth is that three pages of writing will not be enough, but here goes.
Bitcoin never sleeps! The network is a protocol. The network is just code running on top of the internet. The individuals that join the network make it what it is. These individuals are all running the same code or protocol to mine or trade bitcoin. They (Bitcoiners) trust the code like the individuals throughout the world trust in the US gubment to keep the US dollar value stably debasing at 2% per year. If you believe in this administration, then good luck. I believe that they are trying to take control of the financial sector through CBDC’s in the near future.
Trust is a vague and ambiguous term. The main thing about Bitcoin that most people do not trust is its value. They can not get why it holds value. The reason it is so hard to understand is because most of us are completely ignorant of how our current money system works. The current system was built on a “gold” rail system of money.
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Gold was no longer linked to the US dollar after 1971. There is a fantastic website of a compilation of charts called (www.wtfhappenedin1971.com) that shows a visual degradation all over the place. I met the creator in 2021 at the Bitcoin conference in Miami. Cool guy.
Bitcoin is the money (SV) of the world right now. The world will wake up to this revelation slowly due to NMRD’s trying to keep control of their chattel. The other big deal is that the adoption of BTC throughout the world usurps the power of all gubments. It does this by removing the power of the purse strings. Our world “leaders” today enjoy their optimal grip of control through the “fiat” (Money by decree) currency rail system. These NMRD’s manipulate us into sending our children to fight wars over subjective value. :/
Every ten minutes, approximately, is when a block gets stamped into the Blockchain. This means that every ten minutes the network gets stronger. Every ten minutes that goes by that bitcoin does “not die” is one more positive. There is another factor that is complicated to explain that adjusts the difficulty to help the ten-minute estimate stay…
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…on track.
Educating yourself about the history of where money came from is very helpful, but simultaneously learning about bitcoin is even better. You can even buy board games now that educate you about how all of this works.
The miners who mine bitcoin are harnessing large amounts of energy to do complicated equations to get a bitcoin reward. Every ten minutes, you can expect 6.25 bitcoins to be rewarded. Next year the reward gets cut in half to 3.125 bitcoins per reward. Then, every four years (epoch) the reward gets cut in half. This is why it is a “deflationary” currency.
Bitcoin is Sub-Value of the future. Gold was, Bitcoin is! The same analogous story of Jesus shattering the old ways of religion can be overlayed on top of Bitcoin’s story. Jesus was the revelation 2023 years ago. He (Jesus/God/Whatever you would like to call your “north star”/you can not get wet by the word “water”!) gave us Bitcoin to free us from the tyranny of other (NMRD’s) individuals! :) Subjective value will never be the same. Bitcoin takes the original physical “money” and makes it spiritual. :) God is good! :)
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