{"id":3358,"date":"2022-04-13T22:04:11","date_gmt":"2022-04-13T22:04:11","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=3358"},"modified":"2022-04-13T22:04:12","modified_gmt":"2022-04-13T22:04:12","slug":"bitcoin-is-freedom-reflections-on-bitcoin-2022","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=3358","title":{"rendered":"&#8220;Bitcoin Is Freedom&#8221;: Reflections on Bitcoin 2022"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>Share this article<\/p>\n<p>Once every year\u2014barring pandemic, that is\u2014tens of thousands of Bitcoin enthusiasts descend upon the City of Miami to celebrate Bitcoin, the first true cryptocurrency and still the largest in the world by market cap. <em>Crypto Briefing <\/em>was on the ground at Bitcoin 2022 to experience the sheer weirdness of what it means to have undying faith in Bitcoin.<\/p>\n<h2>A Pilgrimage in the Holy Land<\/h2>\n<p>When Mayor Francis Suarez, a vocal Bitcoin bull and proponent of cryptocurrencies in government, unveiled the new Miami Bull statue, he said its placement would cement Miami\u2019s place as the Bitcoin capital\u2014and therefore the future financial capital\u2014of the United States. At once, Mayor Suarez implied Bitcoin (and cryptocurrencies, more generally) to be synonymous with both financial innovation and the way of the future. Modeled after Wall Street\u2019s famous <em>Charging Bull<\/em> statue, the <em>Miami Bull<\/em> is a technocratic nightmare of a design from somewhere between the Terminator and a Transformer, its laser eyes and golden horns daring any other metaphors for financial independence to get in its way.<\/p>\n<p><em>Photo credit: Jacob Oliver<\/em><\/p>\n<p>For the next three days, pilgrims from around the world descended on this spot to get a picture with the Bull as they attended Bitcoin 2022, the largest annual gathering of Bitcoin advocates worldwide. Despite the price of Bitcoin slowly sinking throughout the week, shirts reading \u201cBullish!\u201d abounded in the crowd and captured the overall air of confidence in the world\u2019s flagship cryptocurrency.<\/p>\n<p>Bitcoiners believe. For any perceived fault in them, there are a dozen other admirable qualities of Bitcoin people, chief among them being the fact that they <em>believe<\/em> in something. And when I say they believe it, I mean they <em>believe it<\/em>, the way my grandmother believed that Jesus was on his way back any day now. For Bitcoiners, distributed ledger technology is nothing short of messianic\u2014it represents the advent not only of a new tech, but a new way of thinking about the world.<\/p>\n<p>For the Abrahamic religions there is a promise of deliverance from evil; for Bitcoiners, deliverance from fiat. Fiat currency, I was told several times during our time in Miami, is not just a hoax but something much more insidious\u2014it is a false prophet designed to lure us into a sense of complacency while value is systematically extracted from our lives by an elite ruling class. The figures within the international monetary system conspire to rule the world by devaluing its currency, which they do by seeking to extend their own control over monetary policy. If the comments section of any crypto thread is any indication, fiat money is the most egregious crime in the history of the world.<\/p>\n<p>And Bitcoin is the solution to all that. If there is one belief that penetrates to the bone at the annual Bitcoin Miami conference, it is the idea that Bitcoin is here to liberate us all.<\/p>\n<h2>No God But God<\/h2>\n<p>I\u2019ve never been much of a believer, in spite of my vaguely Pentecostal upbringing. I know what a church looks like, though, and when I overheard one panelist tell the crowd that the only thing that would save them from the coming collapse of society was accepting Bitcoin into their hearts, I knew what I was looking at. \u201cJust look around at what\u2019s going on in the world, it\u2019s all on the edge of falling apart,\u201d I heard a panelist say in passing. \u201cThe best thing you can do to protect yourself, to protect your family, is buy Bitcoin. Tell your grandparents, tell your parents\u2014it\u2019s your <em>responsibility <\/em>to educate people about Bitcoin.\u201d<\/p>\n<p>The tell-tale sign of the zealot is an intolerance of alternative ways of thinking, which soon manifests in exclusionary speech and behaviors. Contrasted to the Ethereum crowd, which seems generally interested in a wide variety of blockchain and cryptocurrency products, some Bitcoin aficionados can be rather exclusive in what they consider to be legitimate cryptocurrencies. These so-called \u201cBitcoin maximalists\u201d (or \u201cmaxis,\u201d if you\u2019re feeling casual) are characterized by their complete and total faith in Bitcoin, and they are not afraid to express this view. Among the many entities that were vociferously booed by various audiences were: Solana, fiat money, Christine Lagarde, the concept of monetary policy, inflation, taxes, Janet Yellen, the Federal Reserve, Fantom, the IRS, SpookySwap, Ethereum, and Solana (again).<\/p>\n<p>It was really something, then, when Ricardo Salinas, a Mexican businessman famously scarred by that nation\u2019s hyperinflation during the 1990s, gave a particularly evangelical talk in which, with no hint of irony, he called the fiat currency system a religion, claiming: \u201ctheir religion is not tolerant, and they hate heretics.\u201d On the screen behind him displayed a trio of \u201cdevilish people,\u201d as Salinas called them\u2014Janet Yellen, Agust\u00edn Carstens, and Christine Lagarde, all bedecked with devil horns, emblematic of the dogmatism of fiat. He quipped the Bitcoin enthusiast\u2019s favorite criticism of the Federal Reserve\u2019s balance sheets, calling all $9 trillion dollars\u2019 worth of assets that it holds \u201cfake money.\u201d He mocked the absurdity of trusting made-up money while waving a dollar bill in his right hand: \u201cThis <em>fraud<\/em>,\u201d he said, \u201cit\u2019s not even good for toilet paper.\u201d<\/p>\n<p>Now, for just a moment I\u2019d like to interject with a personal take, which you can take or leave as you will, but it\u2019s this: <em>all<\/em> money is made-up. It is, to use the most proper term possible, imaginary\u2014it doesn\u2019t exist in nature, and to conceive of units of account is the product of a distinctly human imagination. If a thing has no monetary value on the basis that it\u2019s \u201cmade up,\u201d then Bitcoin\u2019s net market cap is below zero. If you don\u2019t believe me, ask anyone what their bags were worth in 2007.<\/p>\n<p>Which is not to say that money isn\u2019t <em>real\u2014<\/em>it is. But it\u2019s an invention, a technology. It\u2019s tempting to think that money has to be backed by some real commodity in the world; in ancient Mesopotamia, units of barley and wheat were measured in silver, and the U.S. embraced the gold standard until 1971. These are conventions, though, only holding water because we have near universal agreement that these things have value. It\u2019s easy to <em>say<\/em> that fiat money is backed by nothing, but in reality it\u2019s quite efficiently backed by force of law\u2014and that\u2019s not nothing by any stretch of the imagination.<\/p>\n<h2>The Mark of the Beast<\/h2>\n<p>For all their talk of Bitcoin being the equivalent of ultimate freedom and salvation, it\u2019s awfully hard not to notice the fact that these people believe first and foremost in money\u2014and that in their minds, there is no money but Bitcoin.<\/p>\n<p>Other people noticed too, not least of which were the fire-and-brimstone preachers on the sidewalks outside the convention, where I had literally just been told that the only thing that would save me from the end of days was owning Bitcoin. In a scene that couldn\u2019t have been more on-the-nose if it were written for Hallmark, two old men politely foisted biblical literature into the crowd as it shuffled through the exit gates the way a huckster peddles free admission vouchers for gentlemen\u2019s club. Their placard read:<\/p>\n<p style=\"text-align: center;\">\u201cFor\u00a0the love of money is the root of all evil \u2014Timothy 6:10\u201d<\/p>\n<p>As it came my turn, I took a rather tawdry-looking single-strip comic book called \u201cTHE BEAST,\u201d from one man as he pointedly asked, \u201cDo you know what the Bible says about money?\u201d<\/p>\n<p>\u201cThat you cannot serve two masters,\u201d I said, \u201cfor you will love one and despise the other: You cannot serve both God and money.\u201d<\/p>\n<p>\u201cThat\u2019s right,\u201d he said.<\/p>\n<p>\u201cYeah,\u201d I said, \u201cI\u2019ve read it before.\u201d<\/p>\n<p>I continued on my way and flipped through the comic. It was about the Book of Revelation, in which the ultimate false prophet ascends to absolute power over the entire world through financial exploitation and outright violence. Having recently heard more than one speaker (including the aforementioned Salinas) decry the idea of central bank digital currencies\u2014the ultimate tool of financial surveillance and censorship\u2014I couldn\u2019t help but notice the very same paranoia in its pages:<\/p>\n<p><em>Jack D. Chick, \u201cTHE BEAST\u201d (Chick Publications, 1988)<\/em><\/p>\n<p>It\u2019s incredible how much two groups of people can have in common and have no awareness of it. Replace \u201cthe Mark\u201d with \u201cCBDC\u201d and you have the exact same apprehension about government overreach as you had 2,000 years ago. While those around me ushered in a brave new world, I heard the words of David Byrne floating freely through my head: \u201cSame as it ever was, same as it ever was.\u201d<\/p>\n<h2>The Future of Finance<\/h2>\n<p>The strict utopianism of the Bitcoin community also warrants a modest amount of scrutiny. Words of caution came from the unlikeliest of places in the form of a fireside chat with controversial public intellectual Jordan Peterson, who seemed to count himself among the \u201ccrypto-curious\u201d rather than the full-blown believers. Peterson, who is something of an outsider to the Bitcoin community, having only recently developed an interest in crypto, warned a packed room that the idea that a revolutionary technology would have nothing but positive effects was profoundly short-sighted. \u201cThere will be many things you did not predict,\u201d he ominously told a silent room.<\/p>\n<p>But who knows? They may be right. With the likes of Janet Yellen and even Jamie Dimon apparently changing their tune on cryptocurrency, maybe the recognition of blockchain technology as the true-world changer its proponents claim it to be is right around the corner. Maybe during the next recession, Bitcoin will stay strong as other currencies falter because of its decentralized nature and lack of affiliation with any sovereign nation.<\/p>\n<p>But maybe not.<\/p>\n<p>Ecclesiastes says in its closing pages: \u201cDivide your means seven ways, or even eight, for you do not know what disaster may happen on earth\u201d (11:2). Not content to give us mere investment advice, the teacher of Ecclesiastes goes on to remind us of the fragility of our predictions, as well as of the finality of disaster when it does occur:<\/p>\n<p>\u201cWhether a tree falls to the south or to the north,<br \/>in the place where the tree falls, there it will lie.\u201d<\/p>\n<p>All money carries some risk. All national currencies run the risk of collapsing, all digital assets can go to zero, and all stocks can tank just as hard as they\u2019ve done in the past. The value of money is built on belief and trust, and anyone who\u2019s ever experienced a breach of those things knows just how difficult it is to restore them. None of this is intended to spread FUD all over the conference as its participants reflect on their week in Miami. It\u2019s only by way of saying that absolute certainty in anything, no matter how sure you <em>feel<\/em> about it, is always going to be dangerous.<\/p>\n<p>That said, it\u2019s better to believe in something than in nothing. Bitcoin enthusiasts are believers, and with that they bring a kind of confidence that can\u2019t be replicated. If anything indicates a bullish future for what is still the world\u2019s most popular cryptocurrency, it would have to be that.<\/p>\n<p><em>Disclosure: At the time of writing, the author of this piece owned BTC, ETH, SOL, FTM, and several other cryptocurrencies.\u00a0<\/em>Crypto Briefing\u00a0<em>is a media sponsor of Bitcoin 2022.<\/em><\/p>\n<p>Share this article<\/p>\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See full terms and conditions.<\/p>\n<h3 class=\"title\">What Is The Crypto Volatility Index?<\/h3>\n<p>\nThe Crypto Volatility Index (CVI) is a decentralized solution used as a benchmark to track the volatility from cryptocurrency option prices and the overall crypto market. <\/p>\n<h3 class=\"title\">Where the Bufficorns Roam: ETHDenver Reviewed<\/h3>\n<p>\nETHDenver, one of the world\u2019s most celebrated Web3 conferences, took place from Feb. 11 through Feb 20 this year. Crypto Briefing was there to meet with founders, explore new projects,&#8230; <\/p>\n<h3 class=\"title\">A Week in the Metaverse: Miami Art Week 2021 Reviewed<\/h3>\n<p>\nCrypto Briefing explores the NFT and Metaverse events coinciding with Miami Art Week 2021. On the Ground at Miami Art Week Miami in the winter months is a magical place&#8230;. <\/p>\n<h3 class=\"title\">\u201cThere Will Be Many Things You Did Not Predict\u201d: Jordan Pe&#8230;<\/h3>\n<p>\nSo far at Bitcoin 2022, Jordan Peterson seems to be the first major voice to offer a challenge to the \u201cunbridled enthusiasm\u201d that permeates the Bitcoin community. Rather than harsh&#8230; <\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/bitcoin-is-freedom-reflections-on-bitcoin-2022\/?utm_source=main_feed&#038;utm_medium=rss\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Share this article Once every year\u2014barring pandemic, that is\u2014tens of thousands of Bitcoin enthusiasts descend upon the City of Miami to celebrate Bitcoin, the first true cryptocurrency and still the largest in the world by market cap. Crypto Briefing was on the ground at Bitcoin 2022 to experience the sheer weirdness of what it means [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[4],"tags":[],"class_list":["post-3358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3358"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3358\/revisions"}],"predecessor-version":[{"id":3360,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3358\/revisions\/3360"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/3359"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}