Patrick your obvious outstanding perception, experience, and turn of phrase, have impressed me for a long time in Medium, thanks for posting.
I was also a fan of Bitcoin for a long time, seeing it almost as some kind of divine intervention when it came along.
But now I see it more as the technology of Bitcoin which was the special part, rather than Bitcoin itself.
I always had a nagging worry, that the idea of a fixed asset somehow stretching to empower the whole of a still rapidly expanding humanity, might be spreading it a little thin.
Lately, since analysing the effects of, and following the logical ramifications of free money, it looks like the purpose of money is necessarily changing to something resembling energy and information in nature.
Energy, in that it empowers all people, without necessarily requiring its source to be limited, any more than the energy of the sun is limited.
Information, in that it transmits our desires to the collective, by us using it in markets to signal what things we see as having value, with what we direct our money towards.
I agee as long as the dollar is considered valuable, its value is assured, as are also the values of gold, and bitcoin.
By comparing the action of money with that of energy, the two things even become somewhat interchangeable, with massive positive implications for our planet.
And there we can’t help noticing that in nature, the energy is given out by the sun, empowering all of nature, asking nothing in return.
In nature, it is free, essentially unlimited. So there is something fundamentally wrong with the ideas of economies of controlled scarcity.
Every time we see free money issued, we see value generated, and the value of the dollar, as well as all of the other freely printed currencies sustained.
Taken to its logical conclusion, free money means the end of us seeing value in investments, and even the end of all of the ideas of profit.
Perhaps the ideal cryptocurrency application would be an unlimited generator of tokens, for all people and organisations who might like it, personalised to their identity, which the collective could then use to express their votes on the ideas and activities of each individual, like we are starting to see with government issued free money, where folk have any to spare.
I would be interested in your thoughts on that?