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The normal method during which our society constructs possession is inefficient. The Uber-for-X mannequin solves a part of the issue by exploiting the unused worth of some long-tail belongings, however the purpose behind the existence of such an enormous quantity of long-tail belongings stays a puzzle. On this essay, I submit that they exist as a result of our conception of possession is outdated; I suggest that people solely must personal bitcoin. By doing so, we are going to embrace a full-scale sharing economic system backed by Bitcoin, paving the best way for a hyperbitcoinized civilization.
Born and raised in China throughout a decade of a brewing housing bubble, I grew up listening to tales of some property worth rising tenfold, or somebody instantly receiving a big sum of cash from property builders for dismantling their outdated homes to construct new ones. Certainly, getting the one-time Chinese language urbanization dividend on land worth was rewarding to many. But, aside from the inherent systematic dangers of the true property market, homes are actually onerous to take care of: excessive taxes and administration charges, troublesome tenants, numerous malfunctions on the depreciating property.
As I migrated to the U.S. to pursue my increased training, I found that for millennials, fashionable American household values are nonetheless extensively accepted. To lots of them, success means proudly owning a number of autos, a predominant residence, and a seashore home as their pied-à-terre. Folks hold buying and giving their life financial savings to megacorporations within the vehicle, actual property, and power industries.
As a minimalist myself, I used to be by no means a fan of the consumerism powered by fashionable capitalism. Thoreau asserted {that a} man’s requirements consisted of meals, shelter, clothes, and gasoline. If Thoreau have been right here at the moment in our very developed world, I’d inform him that one simply wants their non-public key.
For years, folks have been attempting to know what bitcoin is. Whether or not folks imagine that it’s a digital model of “gold”, or a speculative “inventory” on the blockchain, I feel none of those definitions captured the essence of bitcoin. For my part, bitcoin is a forex that’s not certain by any sovereignty, a perception that may be embraced by all the humanity, the “reality” that Thoreau alluded to, as nobody, besides your self, can take it away from you.
Bitcoiners have a street to freedom. Now, one can simply borrow towards their bitcoin to get any type of fiat forex to spend wherever on the planet. As the worth of bitcoin goes up and fiat forex depreciates over time because of roaring inflation, the curiosity from the bitcoin mortgage shouldn’t be an issue. Many Bitcoiners have already been training this life-style by being a digital nomad, touring all over the world, educating extra folks about bitcoin, and residing their lives to the fullest.
Ultimately, I foresee a civilization the place we have to personal nothing however bitcoin. One can earn “credit score” from completely different nations or borrow towards their bitcoin to spend for each day requirements (very similar to the fiat forex we get at the moment). Nations will probably be not more than property managers, organizing a sharing economic system the place folks can stay in a long-term or short-term place. We will probably be residing in a world the place one can simply journey to satisfy folks, study their tradition, and revel in their freedom.
Until then.
This text is featured in Bitcoin Journal’s “The Withdrawal Challenge”. Click here to subscribe now.
A PDF pamphlet of this text is offered for download.
It is a visitor submit by LJ Huang. Opinions expressed are solely their very own and don’t essentially mirror these of BTC Inc or Bitcoin Journal.
