Bitcoin: Old Practice, New Fools.

Have you actually read the BTC whitepaper? More importantly to my point, did you understand it?

I did not understand it and I am not ashamed to say it. I will bet you 1,000 BTC that for the majority of the human population, the answer is also NO, and this is an important piece of the puzzle to understand why the price of Bitcoin is so volatile.

Financial history is checkered with bankers tweaking the markets in the favor of the few- from seasonal commodity spikes, to the housing and educational debt schemes that rear their ugly heads once a decade, all the way up to century-long national currency inflation schedules.

The best of the groups set up monetary systems that appear to be fair in the day-to-day dredging of the average person, while taking advantage of the increasingly shorter attention span of the public- not to mention the human traits that we have long yet to evolve out of, such as greed and jealousy (FOMO). Level-headed creators of such systems know that given enough time in between, you can continue to fool the same population over and over again.

Don't get me wrong- the average person is far better off today than they were in the days of bartering, at least from the perspective of the availability of quality goods and services. Money, Math and Technology are not inherently bad. Growth for the sake of growth however, is said to be the mentality of cancer.

The purpose of this article is to help you realize that Bitcoin is not a magic bullet that will crush the ruling class. In fact, I wouldn't be at all surprised if it was yet another commodity that was made available to the general public by the very same institutions that invented the stock markets- with all the early adopter advantages included from the start. How long did it take BTC to go from $0.001 USD to $19,500.00? Just under a decade.

People who fail to grasp decade-long patterns will always be poor. People who allow their emotions to guide their decisions will always be poor. People who would rather point a finger than analyze and learn from their own mistakes will inadvertently prepare their children to be the next generation of cash cows for the so called ruling class. There are no hidden fees, just TLDR papers to sign for that balloon mortgage, and your own impatience and naivety to ignore the calculations. It is your God-given right to listen to your eyeballs and ignore your brain when making life-changing decisions such as buying a house, or subconsciously racking up credit card debt on things you want but not need. If you feel the slightest tinge of anger and feel offended after reading this, but do not change your ways, you will stay poor- and it will still be nobody else's fault. YES I am also yelling at myself here. Now back to the point.

Back in the day when a parcel of news may have taken months to travel from one person to another, the monetary systems designed to keep the working man (and now woman) in their place (and the printers of currency squarely at the top) only required rudimentary mathematics and afforded the luxury of 100 year life cycles to unravel before the masses grew tired enough to remember and question the schemes.

As the human population increased (decreasing the physical distance necessary for news and information to travel), and as technology improved, the life cycle of monetary schemes had to be reduced to decade-long cycles. The math behind them growing more complex.

Today, where the internet is in full swing, the same schemes are absolutely present - with increasingly shorter lifecycles and increasingly complex mathematics. This is why in the past two decades, Wall Street has scrambled to hire world-class physicists, and business schools offer a new career path called financial engineering.

In order to create bitcoin, the marriage of well-known cryptography techniques and old-school monetary systems had to occur. Throw in a layer of fast internet, and you have yourself a financial scheme that appears to be fair, new, and designed to give you exactly what you think you want- "Finally, a way to stick it to the man!"

Now, apply this shiny new commodity to the hot-headed working class and you have yourself a modern day wealth transfer where the only novelty is the speed of the repeatable cycle.

So what now?

I urge you to look at the technology and not the price as we head towards web 3.0 . Out of the 1500+ cryptocurrencies available today, perhaps 10 will become part of the next stage of the internet. A stage that might just force "the man" to have to work harder to fool us.

Stop investing in Doge coin just because its funny, and start caring about the fundamentals again. How many transactions per second can the blockchain handle? Does it really protect my identity? Or is it simply a certificate authority system using a combination of ancient cryptography techniques, like the kind that we use every single time we visit an HTTPS web page, and we have been duped into paying $40,000.00 for a single key...err coin...?

In my honest opinion, BTC is still worth $0.001 USD but due to the clever math, advances in technology, and a thin layer of false advertisement, we have allowed our baked-in, evolutionary stale, "deadly sins" to remove all our senses and play this bidding game that is more likely to have been initiated by modern royalty than by a lone ninja. BTC is no different than a situation where a painting is made for $2, but is sold for $2 Million. Someone has simply found the right buyers - the likes of you and me.

Since the whales made their billions already, at least put your effort into vetting, supporting and using the right by-products of this wealth transfer (the best and actually useful "Alts") that will improve the quality of life of the masses. If you don't want to think and just want to ride BTC's coat-tails, hoping to cash out before the crashes, just know that you are playing in the same casino where the house still always wins - and you will remain poor in the long run.

I have made 1000% profit in 2017 and 300% profit in 2020 in the crypto currency markets by staying level headed and knowing that this is all a game; by thinking hard about my fiat mistakes and by educating myself in technology. By paying attention to history and realizing that Rome fell when the average citizen lost their farm due to long-term financial schemes 2000 years ago. All this has not made me a fiat millionaire yet, but it has helped. Perhaps I will never rise to the ruling class, but I will not be duped either.

I cannot wait to actually use the blockchains that will comprise web 3.0 in the next 20 years, and I can guarantee you I will not be using Bitcoin. Stay disciplined yet flexible. Take calculated risks. Make sure you understand the second and third order consequences of your actions, lest you stay poor in mind, freedom and wallet.

esze