hi all. bitcoin had a wild, rollercoaster year. it seems to have hit some massive threshhold/ tipping/ turning point last year. saw a bitcoin ATM briefly at a mall this year during the huge bubble in the 1st half. the ATMs spread all over the country, and theyre probably down to a fraction of what they were. a sign of the times.
it looks like its starting to level out/ stabilize by the end of the year.
a cohort at work told me that “bitcoin sounds like a science fiction novel at times”. have been telling others that. its really neat to have 1 thing in life that defies the status quo, expectations, groupthink/ conventional wisdom, the Establishment, “consensus reality” etc… do believe that in the 21st century cryptocurrencies will have an extraordinary far-reaching effect on human social systems eg govts, corporations etc… aka all The Powers That Be™.
there is some idea of a “Digital Autonomous Organization” emerging and its more than paradigm shifting, its revolutionary, a worldwide gamechanger.
am hoping it will involve building a more humane system. so-benignly/anodynely-called “late stage capitalism” is a house of horrors, increasingly nightmarish/ dystopian/ even verging on apocalyptic. adam smith would be horrified at the “invisible hand” turned to “iron fist”. and our political system has failed to reign it in, because its fundamentally compromised.
so actually a more humane system is increasingly no longer optional. the future of the human race depends on it.
one might think this is a “mere” emergent/ mindless accident or “unintended consequence”, but decades of study have revealed to me/ others there are hidden architects of our “neoliberal” system, and they seemed to know exactly what they were doing. it was designed to create maximal inequality because an equivalent synonym not well recognized is “power imbalance/ power seizure”.
bitcoin will force them out of the shadows (already happening to some degree) and a day of reckoning is coming. am foreseeing/ predicting some pain, possibly quite serious, but freedom and integrity will win out in the end.
bitcoin is one of the most extraordinary inventions of my lifetime. and have seen a lot by now, have been making some lists on this site. lived thru the dotcom era. bitcoin reminds me of the good old days. silicon valley bumper sticker: “please god just one more bubble!”
bitcoin is a foundation and many very dynamic innovations are being built on top of it, some of it can be seen at the moment but suspect there will be key advances that were not foreseeable by anyone.