It’s the minting, stupid!
Can you imagine how the world would be if anyone could print their own dollars at home?
The problem is not who has dollars, but who is the one who prints them and what is the accepted protocol to print them.
"It’s the economy, stupid," was a phrase widely used in American politics during Bill Clinton's electoral campaign in 1992 against George H. W. Bush (father), which led him to become president of the United States. Then the phrase became popular and even right now it is usually used to highlight the essential aspects of a certain situation.
James Carville, the strategist of Bill Clinton's electoral campaign, thought that Clinton should focus on issues more related to the daily life of citizens and their most immediate needs. The phrase became a kind of unofficial slogan of the Clinton campaign, which was decisive in modifying the relationship of forces and defeating Bush, something unthinkable shortly before.
I allow myself to modify this phrase, today widely used internationally, to show the essential issue in the bitcoin ecosystem.
It is difficult for me to believe that there are still people concerned about the remote possibility that the large financial whales of the world buy all the bitcoins in circulation and all mining equipment. BTW, I do not understand why, in addition, fear came now that the SEC approved the ETFs, and not before, because in reality, if that madness had any possibility of realizing, the whales did not need any approval from anyone to do it.
Instead of rejoicing because the most powerful monetary organism of the most powerful nation on the planet finally endorsed the successful emergence of the most disruptive monetary technology in history, they lament the stupid possibility of someone staying with all of Bitcoin.
Because what is lost is that the important thing is not who has them, but how they are minted. No government, no corporation, no whale can interfere with the Pow protocol that is the one that regulates the creation of new Bitcoin. Any person of any social class, any religion, any race, and any political affiliation can create Bitcoin being part of the network. The true revolution of blockchain technology is to have changed the course of the story allowing a simple person in any remote place of the planet, printing their own money and using it for what they want without having to ask anyone's permission. What does it matter then that there are some who have many bitcoin, if all I need are a few to pay my expenses? If the whales keep buying and buying, all they are doing is strengthening me, because they make the price rise a lot, and then I will have to use less Bitcoin to pay my expenses. What whales cannot do is change the decentralized network’s operating protocol that highly incentivized individuals keeps safe. What are you afraid of? And even when Blackrock buys all the mining teams on the planet, and all the shares of the ASIC manufacturers, there are the developers outside. They already did it once, aren't they going to do it again?
The efforts of dinosaurs to stop Bitcoin seem to those who at the beginning of the 20th century wanted to stop the development of electricity because it was very dangerous and people were going to die electrocuted. Or those who said that cars were never going to develop because they were very dangerous for pedestrians.
They are trying to stop a tsunami with a fence. They are trying to eliminate electricity. They are trying to eliminate the automotive industry. But worst of all, there are still scared Bitcoiners who think one or two whales will be the owners of all Bitcoin and that "will decentralize" the ecosystem. The balls! No one can decentralize the ecosystem. What part of “cannot” you don´t understand?
Still, the vast majority of people believe that Bitcoin is only useful to make somebody rich when the price goes up a lot. Many years of educational deformation at the hands of Wall Street have generated in the different generations the utopia of the American dream that consists of living about 80 times the same year, working for others, in the system designed by others, sometimes without becoming aware of this situation, like Homer Simpson. Mr. Burns is very happy. The Simpsons were launched in 1987. At that time, a middle-class family could have their own home, two cars in the garage, vacations, medical attention, and many other basic rights issues, even with a nuclear power plant worker father, a housewife, and three children to raise. Today, with the lie of the American dream, those "luxuries" can only be afforded by Mr. Burns in Springfield.
Then, in recent years, they hugged another utopia, the utopia that Bitcoin will make them millionaires, just by holding it. In this way, life for these people has become a kind of "I will save in Bitcoin and one day I will be a millionaire."
Did you do the math of how much BTC you have to hold to be a millionaire? If you can buy enough BTC to one day be a millionaire, then friend, you are already a millionaire.
I remember that Tom Watson I, founder of IBM had a poster behind his desktop that said just one word: “Think”. It was only to intimidate the one who sat in front of him to talk about something, thus avoiding the stupidity before they manifested. Voltaire also once said that no one was exempt from saying stupid things, the problem was to say them emphatically. Every day I see someone saying emphatically that with Bitcoin one can be a millionaire ...
As if an elephant passed them in front of their noses and they did not see it, the revolution of decentralization technology passes in front of their noses, and they don´t see it, blinded by the American dream that just the children of those who are already millionaires are allowed to achieve.
A monumental change is bringing to humanity the possibility of getting out of the system and taking advantage of a technology assembled by a crazy Japanese 15 years ago, and it is making aware people that money is energy in transformation and that this energy is at reach of their own hands, and not in the hands of corporations and governments that so far handle it as Mr. Burns.
They will tell me that it is not true that anyone can mine Bitcoin because of the cost of equipment and the cost of energy. But the answer in this case is also simple. That is true with the state of the art of current technology. But it is no less true that the world energy industry is going through a dramatic and unprecedented transformation. In the same way that money production is being decentralized, energy production is also on its way to decentralize, despite the huge lobby that oil companies do in Davos and governments around the world.
It is about converting the energy of the sun, the water, of the wind, of the dung, of the garbage, of the heat of the earth, in money to freely trade with peers in an unprecedent situation so far.
Governments do not print fiat money only to feed the consumption machine based on the American dream, but, especially, to have people grabbed by the balls as to what they can save, spend or consume. Banks create fiat money through spurious credits and people use credits cards to live later paying fabulous interests to banks that are vilely enriched with the money they did not have but which they lent. That is, in a nutshell, the American dream for Homer Simpson.
Do you understand what is the system that blockchain technology and the Pow protocol are destroying?
But unfortunately, the Homer Simpsons are still thinking of getting rich through Bitcoin, looking every day what is the price the whales decided in the “free” market for them (banks, corporations, institutions, governments, and other capital pools).
If one lives near a waterfall and can transform the energy of the water that falls into electrical energy and with that feed a small rig to mine Bitcoin, and with that cover his/her expenses, isn't this "wealth"? What do we want banks for?
There are already several solutions in the market to think about Bitcoin's home mining. For example, Futurebit and his Apollo team.
The Apollo device contains the wallet, the node and the miner in a single easy to operate device. It is thought just for those who fear the centralization of mining in large pools.
Here is a very good guide to explain the scope of this home technology to mine Bitcoin, without noise and low consumption.
Here you can see a video that explains in depth the specifications of the different versions of Apollo, their prices, their requirements, and the possibilities of profitability.
You can see the equipment offer on Amazon
Mining Bitcoin from home can be unattractive, with current technology, since profitability can be low, or even non -existent, due to several factors, mainly that of the cost of energy. But expect a moment, what energy? That produced by the corporate power stations that made the entire planet dependent on them? Those that consume huge amounts of fossil fuel to generate energy by brutally polluting the environment, and then in Davos, those that arrived in private jets brutally polluting the atmosphere, say that the environment should not be polluted?
We do not want that energy because it generates a total dependence, such as dangerous drugs.
So, we have another sector of the economy that develops by leaps and bounds in the world, the manufacturer sector of easily installable and configurable devices to produce energy at home. With these devices, the Bitcoin home mining equation can change dramatically. When both industries intersect, you can think of making money from home using the energy you already have out there, still asleep, waiting to be used.
Here I must also recognize that, for the moment, the state of the art of the industry of home generation of sustainable energy, is still precarious. But let's not forget that all this that Bitcoin launched is only 15 years old! Let us remember, how long did television became streaming? Or how long ARPAC became Google?
Being still in an embryonic state, home energy production equipment alternatives are still expensive and need trained professionals for installation. Soon this will be past history, and I think that, in a very short time, we are going to buy the homemade energy generation equipment in the supermarket appliances section. But, it is true, for the moment, it is necessary to make an important investment to be able to feed a miner such as the Apollo with sustainable energy.
There are several sources of sustainable energy being used successfully in many places on the planet. Let's see them quickly:
1- Photovoltaic solar energy
It is the best known, the most developed and the most expanded throughout the world. It is the renewable energy obtained from the use of electromagnetic radiation from the sun. Solar energy production equipment can be obtained for houses that can feed basic appliances, for about $ 10,000. The general opinion of the experts is that this price will decrease dramatically in the short term.
2- Wind energy
It is the renewable energy used by the force of the wind to generate electricity. That is, it consists of the conversion of the energy produced by the movement of the blades of a wind turbine driven by the wind in electrical energy. You can get home turbines from $ 2,500 to $ 10,000.
3- Geothermal energy
It is obtained by using the natural heat inside the earth. That is why it is said that it is a resource that can be inexhaustible and without environmental impact. In regions endowed with volcanic phenomena it is also possible to exploit that heat obtaining renewable and clean energy. The heat obtained with geothermal energy can be used by drilling deep wells on the earth. In this way, we managed to access hot groundwater and water vapor. Precisely, steam is the thing used to drive turbines and generate electricity.
Likewise, it should be noted that geothermal energy systems are very durable and barely require maintenance. Therefore, it is one of the most profitable investments for any home in terms of energy consumption and savings. The cost of a geothermal energy installation cannot be simply estimated, since each one is custom designed, at least, for the moment.
4- Hydraulic energy or water energy
It is the renewable energy that takes advantage of water fall from a certain height to generate electricity. That is, it is obtained from the course of rivers and lakes through the creation of dams and pipes. It takes advantage of the transformation of gravitational potential energy into kinetic energy to overcome a level difference, which is transformed, thanks to an alternator coupled to a turbine, into electrical energy. Today, a small hydro turbine generator can be hooked up to pre-existing piping in your home. There are hydroelectric generators ranging from portable micro hydro power systems (great for hiking and camping), multi -use (wind and manual power), in-pipe (at home or in irrigation), cross-flow (river, stream), and wheel.
There are household hydraulic generators from $ 3,000.
5- Bioenergy
Also known as biomass, their best known forms are biofuels, biodiesel, bioethanol and biogas. It is the energy obtained from the use of organic and industrial waste formed in some mechanical or biological process, generally, of substances that constitute living beings or their remains and waste. There are biomass generators capable of generating enough electricity to heat a home or an office. They usually consume firewood, sawdust, wooden remains, chips and pellets. This fuel does not imply an increase in CO2 in the atmosphere because it is the same amount that trees and plants have already absorbed. In addition, using the biomass created by forests, they are cleaned, lowering the probability of forest fires.
The so called biodigesters produce biogas as the human digestive system. When biodigesters receive organic matter (food waste, agricultural waste or animal or human manure) microorganisms break down in the absence of oxygen and make it biogas, which can later be used to heat, cook, or generate electricity.
A typical home biodigester can convert remains of food, animal manure and human waste in sufficient biogas for two hours of cooking per day. The smallest version costs less than $ 1,000 and can meet the gas needs to cook a small family of two or three members.
All these variants of alternative, sustainable and green electricity production will be quickly included by Bitcoin's home mining. This will mean a dramatic change in the equation of mining’s profitability, and, in addition, it will allow anyone from home to produce the money he/she needs, and when he/she needs it, to live without having to depend on anyone, nor on gigantic energy corporations, since he/she will be generating his/her own electricity.
Bingo.
CONCLUSION
Blockchain technology, accompanied by a Pow protocol, is marking a turning point in human civilization. While many are thinking of getting rich with Bitcoin, and their lives are stuck to the candle graphics and elucidating what will happen in the halving of April (with the ETFs they did not go as expected), the people who have a bit of strategic vision are seeing a decentralized future without hierarchies, that is, in perfect anarchy, with collaboration between all the players involved respecting the established rules. With rules, not with regulators. Making money from home, without the need for a central authorities.
Bitcoin is anarchy. But real anarchy, not as right-wing politicians pretend, being them more corporate than Mr. Burns. It is the anarchy of peer cooperation that is not obliged to have confidence in each other. They should only respect the rules. An ecosystem made in that way will be sustainable through generations.
(This article was originally published on Publish0x)
Thank you for reading! Decentralize yourselves as much as you can, and much more! Work for yourselves, not for others. When you work for someone else, they pay you what YOUR POSITION is worth, when you work for yourself, they pay you what YOU are worth. No one achieves financial independence by working as an employee. Live long and prosper!
Never forget:
As usual, none of the things written in this post are financial advice and are not intended to replace personal research. My sole intention in writing this post is informative. Several of the things discussed here could be wrong, so in no way can this post be construed as financial advice, and in no way should it replace your own research.
If you have any questions or comments, please feel free to leave them down below
You can also contact me at gerardo.saporosi@gmail.com
Twitter https://twitter.com/SirGerardThe1st
LinkedIn https://www.linkedin.com/in/gerardosaporosi/
Follow my blog Anarchy: the Final Solution:https://gerardosaporosi.substack.com/
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