Tulips (& BITCOIN) are sexy!
Updated perspectives on Bitcoin, blockchain, and valuation.
Van Gogh’s most expensive sale: 90M EUR in 1990–1st 100–200 years of its existence it was worthless…
It was recently said that Bitcoin isn’t worth a tulip, it’s going to $0, etc.
The authors failed attempt to avoid age discrimination and incivility:
Warren, Buffet, Yellin (ironically weeks before said stables’ have use — reverse that after UST-Luna-Terra demonstrated several important points the DAO shall save for Twitter), the Finance Minister to India and all those taking this side… They don’t get it… They run systems and have contributed to far greater crashes, etc.
Buffet isn’t worth the word count…
But… all of them would (except Buffet(?)) would likely buy the Van Gogh if they could afford it…
Bitcoin is a software engineering work-of-art.
Cryptographically, to hack the Bitcoin blockchain it would take a quantum computer with millions of qubits (the quantum equivalent of “bytes”). Current quantum processors have A LOT less.
Sex & Abundance:
In an affluent community, where there is an influx of new assets that enhance the living standards of a society (for example, colonialism from drastically increasing access to resources), individuals have what seem to be excessive resources.
This occurs with nature and is directly related to sex/procreation — something humanity calls “natural.” Abundances of pretty things and excessiveness are necessary demonstrations of survivability because they are directly linked to procreation and longevity. It is written into our “biological ledgers,” and cannot be totally explained from our worldview.
Are expensive things worth the price? Yes…. To the person(s) paying, especially if they will hold (collect and cherish) it for as long as they can, it creates a sensation of satisfaction and gives them access to the other holders that form groups where they talk about their digital asset collections(?)
Flaunt what you’ve got…
Gold is a unique compound of molecules that is aesthetically appealing; it is also irreplaceably useful: without gold, nearly all existing electronic devices would not work. BTC is more “fiat” than paper money, simply because it is cryptographically finite, and “vintage;” paradoxically, not-fungible compared to current standards of subsequent DLTs.
At the moment of writing this (July, 2021 originally), BTC had a USD value of more than $40K; 1oz of gold was more than $1.8K. When the ﬁrst securities market was created to pool liquidity for the progenitor of the United East India Co. in Holland, it quickly produced an extreme misalignment of the monetary cost of tulip-bulb contracts to their average price: a high-end tulip-bulb contract reached the equivalent of $750K. The ownership of the ﬂower was the community’s representation of personal prosperity.
It was the forum of a central, auction-style marketable securities (contract) exchange that created the platform for ego-selﬁsh rivalries and permitted exploiters of competitive insecurities to push the risk/reward outcomes to an extreme. But, ﬁat price perception does reﬂect functioning economies of supply and demand with the removal of the psychosis generated from centralized competitive market speculation. What is now a deeply ingrained component of measuring the eﬃciency of an economy and its scale, and is severely protected by governmental legislation to avoid being destructive by the manipulative nature of group price speculation, is a fundamental driver of resource misuse and its consequences — it does not allow accounting for long-term sustainable resource management by requiring 3-month ﬁnancial reporting cycles to drive perceptions of success and pricing. It ignores the beneﬁts of long-term R&D to make technological leaps deemed as “proﬁtable” when they are the mainstay of human multi-generational growth.
1) Humanity’s most necessary commodity, water, is only as worthy of denomination when it is scarce; since it is perceived to be abundant, it is not worthy of trading as a marketable security contract.
2) Pandemics and war are some of the only catalysts driving major scientific advancements. (i.e. covid-19 RNA sequencing; Cold-War nuclear/space race)
Initially, security contract “stock” markets were meant to allow pooled assets for the purpose of investing in the explorative and adventurous pursuits of human nature; and contract oversight allowed the correct appropriation of benefit if successful. It was only due to lack of technological conveniences of communication and enforcement that these were centralized; one mainstay of fiat-to-value pricing errors.
BTC brought us blockchain and the glory of DeFi…
DeFi & the concept of the decentralized autonomous organization (DAO) allow us to return to the original purpose of financial pooling for sharing exploration (science) collective endeavors that allow for the benefits to be distributed more fairly.
To increase access to liquidity and support economies through price crashes caused by mania and/or natural disasters — the foundations of modern financial infrastructure shifted to a debtor system.
Semi-perfect analogy: BTC is the first “postal stamp(s)” of our digital future.
The author isn’t going to take sides on the Bitcoin debate re: asset bubbles etc, all our members have their own, diverse, opinion, which makes it great.
Nothing here should be taken as financial advice. This is an editorial article expressing a non-professional/licensed opinion. Any copyright infringements are accidental and will be rectified immediately upon notification.
firstname.lastname@example.org, founder, FATExDAO.io — the opinions expressed here are not representative of FATExDAO though are connected to its creation — DAO members are diverse and may choose to remove them from any publication via its governance mechanisms.
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