To keep us weak, the government has dragged us further into the deep start of the accounting pool. To compensate for their high level of future uncertainty, vulnerable individuals have a high time preference. A civilization that believes strongly in protecting and nurturing its most vulnerable people has transformed into a culture that produces them as a matter of course. This explains why you’re struggling to keep your financial footing. Vulnerable individuals consume with little concern for the future. And before get ahead, register yourself on the cryptocurrency, and learn all about the safest and easiest ways to earn in the bitcoin world.
If I had to guess what being a Bitcoiner is all about, I’d say it’s about bringing order back to the monetary system so that we can all move forward more honestly and efficiently as a collective. In the context of people or things, the order may be conceived of as the organization of people or something about one another by a specific sequence, pattern, or technique. The term “specific” is crucial in this context. The dollar does not follow any “specific” pattern. It is issued and debased at the whim of the government.
As we mentioned last week, a centralized currency such as the United States dollar would not maintain its value. Furthermore, markets operate inefficiently when the unit of monetary measure is constantly changing. All fiat currencies collapse because no one can resist the urge to create more money for oneself while simultaneously devaluing the assets of others. Bitcoin, on the other hand, has an unforgeable costliness and a supply limit of 21,000,000 units.
What exactly does “progress” imply? Individually but also collectively, progress, in my opinion, is being able to accumulate values and objectives with greater efficiency across more extended periods, both as individuals and collectively. In exchange for rewarding time spent pursuing both, Bitcoin encourages honest value creation and goal accretion. The important words in this sentence are “time spent.”
Dollars do not retain their worth for a long enough period to encourage the accumulation of long-term objectives. Dollars are used to promote debt and fleeting pleasure, among other things. When you purchase Bitcoin, you are effectively purchasing yourself more time in the future. You are swapping your current time for a future time. When you are buying debt-based dollars, on the other hand, you are betting on the future for the present.
Progress implies that we can achieve our goals in more efficient ways as time goes on. No assurance that works put into a system will produce a result. Although Bitcoin is a kind of exchange for your time, it provides a significant amount of motivation to work hard and give the most amount of value possible in return for it.
The Advancement of Technology
Bitcoin, artificial intelligence, or general technical progress will not replace employment in the same way that the wheel and the loom did. This, however, is a topic for another debate. People learn to adapt and become more productive over time as a result of their cooperation. Capital buildup and effective redeployment of capital should be carried out so that work is made more efficient due to their operation. Many individuals living in first-world nations have access to more significant amounts of money, property, and time than those living a century ago could have imagined conceivable. Despite this, certain globe areas have remained essentially unchanged for millennia, as if they were isolated at a technological optimum in their regions.
It’s A Long and Winding Road Ahead
It wasn’t long after Gensler’s remarks that “regulation by enforcement” will continue until the SEC issued the “Poloniex order,” a press release in which an exchange is offering 75 coins was referred to as an “unregistered digital asset exchange.” Although not unexpected in the instance of this one-time exchange that settled with the SEC for more than $10 million, the enforcement action served as a warning to the marketplace that other businesses in a similar situation might anticipate the same treatment.
Given that the Securities and Exchange Commission (SEC) is the primary regulator of the sector, the crypto-asset industry will have to deal with how investors are affected, regardless of whether a particular digital asset is considered to be a security. Suppose Gensler sticks to his guns and implements the rules he outlined. In that case, Bitcoin will likely be remembered as a revolutionary innovation that is here to stay — and the future looks bright for “bitcoin-only” exchanges that take a conservative approach.