Bitcoin’s purpose is to define the world, not RefFinancially.
And so when I heard the executive president of the strategy Michael Saylor Say a The Bitcoin Treasuries yesterday who wants to see $ 200 credit trillions on top of Bitcoin once he reached a market capitalization from $ 100 trillion, I felt restless.
Then, when I heard Brian Armstrong, Ceo di Coinbase to send a similar message this morning, I started to feel like I was losing the plot.
For those who are not experts in the origins of Bitcoin, it was born from the great financial crisis of 2007-09, which was the result of a highly financial and too financial system.
When I think of Satoshi Nakamoto who codes Bitcoin, I don’t think of someone (or a group of people) who thinks of himself: “How can I create a new resource that we can finance so that we can create the same problems again?”
What Satoshi seemed to have in mind was: “Here is a new form of money that retains the value over time so that people do not have to rely on financial products”.
I don’t know if we will ever live in a completely hyperbilized future in which there are no other forms of money. But I imagine that the $ 100 to $ 200 trillion of debts that Saylor and Armstrong are imagining are made up of other currencies and, in such a scenario, Bitcoin has probably been relegated to “digital capital” instead of in money – and this is not my vision for this. (To be honest, it could be used as a digital capital and money at the same time.)
My vision is closer to what we see in Bitcoin circular economies, community from all over the world that use Bitcoin as money. I visited a number of these communities and I attended the enormous impact they had on the life of their members.
Many members of these communities have never had a bank account or have been part of the wider digital financial system, which means that they are probably not even suitable for requesting credit. However, with Bitcoin, they are able to save and build small businesses with those savings.
This is part of Bitcoin’s magic: authorizes those who have been neglected by the traditional financial system, saving while those of us who have access to it becoming slaves to debt.
We may never live in a completely defined future, and that’s okay. One thing is to recognize it, but it is another to imagine a future of finance built on Bitcoin even before having managed to have adopted it as money, which is what Satoshi intended to be.
It would be fantastic if some of the most important names in the sector supported by giving life to the original Bitcoin vision before speaking to incorporate it into the antiquated and corrupt system as little more than a new form of collateral.
This article is a Take. The opinions expressed are entirely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.