Bitcoin is a modern day monetary revolution enabled by a breakthrough in technology; mainly the beautiful combination of a Proof of Work consensus mechanism with a built in difficulty adjustment. We have expounded these innovations many times throughout the existence of this rag, but I'd like to shift today's focus to another type of innovation that Bitcoin is driving as highlighted by our friend Build and Hodl; information dissemination. This is becoming more obvious as individuals like Michael Saylor who have decided to allocate hundreds of millions of dollars to bitcoin cite content produced by individual bitcoiners.
A grassroots movement of disparate individuals putting out content because they noticed a lack of quality information about Bitcoin are having a material effect on decisions being made in corporate boardrooms. Due diligence and information sourcing that has historically been dedicated internal teams and consulting companies is being provided FOR FREE by individuals messing around on personal blogs and Medium accounts. Truly fascinating stuff.
Newsletters, podcasts, YouTube channels, and Twitter accounts have popped up out of nowhere over the last 11+ years to spread the good word about Bitcoin. This is one of the beautiful aspects of the Bitcoin Network and the revolution it is ushering in; it compels individuals to share quality information for free because it contributes to the positive feedback loop that was initiated on January 3rd, 2009. We've been saying it since Issue #43 in this rag (the Bent has certainly evolved since August 2017, as have I); Bitcoin is a living organism. It is engaged in a symbiotic relationship with humans. We get a peer-to-peer distributed cash system built on sound monetary principles in exchange for dedicating time and energy to the Network. This time and energy manifests itself in the form of developer hours, the building out of mining infrastructure, building products that enable individuals to leverage the protocol, and the sharing of information that draws more humans to Bitcoin; helping to further fortify and establish the system.
What a time to be alive. Everyone on the sidelines should be careful, especially entrenched incumbents like traditional financial news and information organizations, Bitcoin has created an incentive to make them obsolete. The Truth machine is incentivizing individuals to spread the Truth. The Truth about the Central Banking system. The Truth about the mirage of Capitalism we've been force fed. The Truth about unnecessary gatekeepers. And the Truth about the power of the Sovereign Individual in the Digital Age.
The future is bright!
Uncle Marty is seriously considering a sober October.