Posts Tagged ‘moral hazard’

Bitcoin: Freedom From Moral Hazard

March 16, 2022 Leave a comment

Before the Bitcoin Immaculate Conception was birthed into the world by Satoshi Nakamoto on Jan 3rd, 2009, we only had, and still do have, and still will have, a world filled with closed, monetary networks like this:

Because the only commodity on earth that no one can get enough of is “money“, and money is, um, really important for surviving and thriving, these old and “morally leaky” network quagmires are closely monitored and controlled via elite, privileged, and corruptible cabals. These cabals grant membership and usage capabilities to users who meet the requirements for membership (or those who covertly bribe their way in).

In addition to these cabal-controlled networks, the world now has the first open, permissionless, monetary network, which, of course, is the Bitcoin network.

That’s it, that’s the post. I’m cutting off early because the Emperor once again lit my feet on fire. I gotta go “toke” up and slather some Australian Dream cream on my toes to temporarily forget about my closely-coupled relationship with him once again.

Oh, and one last pic for you to ponder before I go. As increasingly more closed-network users discover the freedom from “moral hazard” that the Bitcoin network freely offers to every soul on the planet, the more they’ll want to plug into it and move some value into it as a welcome hedge against unscrupulous cabals.

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