Sure, Bitcoin is revolutionary — but did you know…?
Keep reading to learn 5 possible outcomes of Bitcoin you may not have considered. (If you did, scold me in the comments!)
Oh, Bitcoin, you sly devil. Are you an angel or an insect? The jury is still out on you. With polarizing figures and statements on both sides of the Bitcoin, it could be another decade or two before we figure out if Bitcoin has truly advanced the human race, or enslaved us more than we are today.
Wait, what? He just said Bitcoin may not be all that and a bag of milk. Troll him! Off with his blog!
But it’s true.
None of us really knows where this goes, and looking at things like the Occupy Movement, we Libertarian types have the potential to kinda step in it. Some protest for the sake of protest, and then Trump. No one is really driving.
This article on 5 things you didn’t know about Bitcoin is intended to make us all – both sides – give our heads a shake, respectfully. We need to start making purposeful decisions when it comes to Bitcoin.
We control the outcome if we want to, but I’d like to explore other potentials to make sure everyone’s awake and not just drinking Koolaid.
First, You Need to Get Angry
In my mind, cryptocurrency can repair many aspects of a broken world, but there are so many hoops to go through, first.
Regulation, the forces at work who write themselves blank checks (and by that I mean bank notes), widespread adoption, resisting government consequences during the transition, and weathering the media storm. I could go on with the shit list, but you get the idea.
And when you get it, what will the outcome be? After your beat down, you’ll be 30 years older. You’ll need retirement money just like the powers that exist today. You have some serious soul searching ahead of you.
Your human nature is your obstacle. And with this in mind, I give you 5 possible outcomes of the Bitcoin fintech revolution.
1. Bitcoin Could Be an Agenda to Tax You to Death
Everyone into Bitcoin knows the war on cash is real. But no one knows who Satoshi is. Could he be a pilgrim of the new world order? Woah, tin-foil hat alert, Batman.
But really, an effort to make currency completely digital and put it all on a public ledger — ho hum. Doesn’t that have the potential to make all transactions transparent? Isn’t the IRS (and the SEC) already onto Bitcoin like a fat kid on a smarty? And to the Left, the Republicans are the ones defending Bitcoin and its privacy against the IRS. We got layers, here. Something to think about. It’s a shame to polarize any party entirely, no matter how evil they seem.
2. Bitcoin will Create Layoffs the World Has Never Seen
In any massive transition of World War proportions, there’s always layoffs. Mass unemployment. You want to unseat the financial sector for its nefarious ways — are you ready for the pain?
Smart contracts will replace hundreds of thousands of white collar jobs one day: lawyers, asset managers, and even historians. And it will lower the pay grade of the existing jobs that survive because all that accountability that earns a salary will be fulfilled by the blockchain.
It’s not the bubble you need to fear like all the pundits spew — it’s that fintech disruption we’re praising today that’s going to succeed that we need to be mindful of.
3. Wars Won’t be Clean and Tidy
You wouldn’t know it because you still woke up and had a Starbucks coffee and went along on your merry way to work this morning like it ain’t no thang — but there are massive, long-term wars going on. Right now. With all the costs that come with them. And those costs are balanced by the financial sector (read: Petro Dollar). Unseat the financial sector and things are going to spiral. For a time.
Unseating the powers that create wars safely out of view (and out of thin air) today mean those wars may affect you in the flesh tomorrow.
4. You Won’t Pay as Much for Things You Pay for Today
Now a kiss of the positive side: all those things you’re set to pay for — escrow fees, insurance broker fees, mortgage broker fees, international money transfers, banking fees, printing money at The Federal Reserve Bank, creating debt you pay for with taxes, premiums on products or services, lawyers, even the health industry — will be gutted by the blockchain.
Ideally, lowering a hundred thousand human pay grades will have benefits for the consumer. Decentralizing services into a blockchain means removing a lot of grubby fingers. But that other shoe is heavy when it drops.
5. The World May Wuss Out
If the world decides to back down on Bitcoin, and all of its promise, your Bitcoin will become worthless. You have waves and waves of unsettling disruption ahead of you. And you have a lot of moms and dads HODLing right now, placing their trust in crypto above their seemingly non-existent pension.
Is it the naivete of youth today that makes you hold Bitcoin? Who will you be in 10 years when the sparks fly? Will you have kids?
Cause when you look into their big beautiful eyes, you will melt, and you will buck the trend to make capital gains — even if that means pulling out of BTC. If enough people do that, for those same reasons, you’re all f*cked.
It won’t be an easy road ahead, I assure you. We need a few good people – actually we need at least a few billion – to HODL strong in the coming years. Do the right thing. This is your war.
You wanted the future, you wanted a solution — you practically begged for it. Well, feel the weight, kids. This is going to be a shit storm.
Right or wrong, these are my genuine fears. Strip any perceived authority from me and rip my thoughts in the comments. I know it won’t be pretty, but it comes with the cryptocurrency hobby and my soapbox.
Please leave a comment but understand I’m just a mouthpiece. I want Bitcoin to succeed. I bleed.
Right now Bitcoin feels like a candy store. How it got this far — doesn’t it feel weird it got this far? That other shoe will drop, potentially, like an atom bomb.
Love me or hate me, comment away.