Last week, the world's elite made their annual pilgrimage to Davos, Switzerland to explain to the rest of the world how things should be centrally planned. Without fail, this event proves to be one of the most hubristic displays of overconfidence by a group of people who have made the world materially worse off over the course of the last few decades. This year, the great people of the World Economic Forum announced to the world that they have assembled a team of crypto "industry experts" to draft a "Bill of Rights" for the "industry".
I can smell the stench emanating from these people sniffing each others farts in Brooklyn. The people attempting to put forth this Bill of Rights are enemies of Bitcoin, a project that exemplifies the ethos of the cypherpunks and early Internet pioneers.
"We reject: kings, presidents, and voting. We believe in: rough consensus and running code." - David D. Clark
Though, believe it or not, your Uncle Marty isn't here to lambast these charlatans today. They are simply noisy clout chasers who will be forgotten in history. To me, the signal from this circle jerk came from comments about whether or not oil contracts will be (or are already being) denominated in bitcoin. CoinDesk's Leigh Cuen covered comments from several representatives from the Middle East with heavy oil ties about their thoughts on bitcoin-settled oil contracts.
The reactions to questions were mixed as you can see from the snippet above, but the implications seem to be very clear; the world is thinking about settling oil contracts in anything but the US Dollar. We have covered this growing trend throughout the years and, if these comments out of Davos are any indication, the trend is only getting stronger.
In a world in which the US Dollar has been weaponized against hundreds of millions, if not billions, of people; those being oppressed are going to seek out apolitical alternatives. Bitcoin is that apolitical alternative. If used in a closed loop, it cannot be sanctioned, it cannot be bastardized, and it cannot be stopped without an insane amount of coordination between the people who are currently pitted against each other.
The world is waking up to this fact. It is only a matter of time.
Huge Fela Kuti vibe for the last 16-hours.