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The standard manner through which our society constructs possession is inefficient. The Uber-for-X mannequin solves a part of the issue by exploiting the unused worth of some long-tail property, however the cause behind the existence of such an enormous quantity of long-tail property stays a puzzle. On this essay, I submit that they exist as a result of our conception of possession is outdated; I suggest that people solely have to personal bitcoin. By doing so, we are going to embrace a full-scale sharing economic system backed by Bitcoin, paving the way in which for a hyperbitcoinized civilization.
Born and raised in China throughout a decade of a brewing housing bubble, I grew up listening to tales of some property worth rising tenfold, or somebody immediately receiving a big sum of cash from property builders for dismantling their previous homes to construct new ones. Certainly, getting the one-time Chinese language urbanization dividend on land worth was rewarding to many. But, aside from the inherent systematic dangers of the true property market, homes are actually exhausting to cope with: excessive taxes and administration charges, troublesome tenants, numerous malfunctions on the depreciating property.
As I migrated to the U.S. to pursue my increased training, I found that for millennials, trendy American household values are nonetheless extensively accepted. To lots of them, success means proudly owning a number of autos, a fundamental residence, and a seashore home as their pied-à-terre. Folks maintain buying and giving their life financial savings to megacorporations within the vehicle, actual property, and vitality industries.
As a minimalist myself, I used to be by no means a fan of the consumerism powered by trendy capitalism. Thoreau asserted {that a} man’s requirements consisted of meals, shelter, clothes, and gas. If Thoreau had been right here right now in our very developed world, I might inform him that one simply wants their personal key.
For years, folks have been making an attempt to know what bitcoin is. Whether or not folks imagine that it’s a digital model of “gold”, or a speculative “inventory” on the blockchain, I feel none of those definitions captured the essence of bitcoin. In my opinion, bitcoin is a forex that’s not sure by any sovereignty, a perception that may be embraced by the complete humanity, the “reality” that Thoreau alluded to, as nobody, besides your self, can take it away from you.
Bitcoiners have a highway to freedom. Now, one can simply borrow towards their bitcoin to get any type of fiat forex to spend wherever on the planet. As the worth of bitcoin goes up and fiat forex depreciates over time resulting from roaring inflation, the curiosity from the bitcoin mortgage will not be an issue. Many Bitcoiners have already been practising this way of life by being a digital nomad, touring all over the world, educating extra folks about bitcoin, and dwelling their lives to the fullest.
Ultimately, I foresee a civilization the place we have to personal nothing however bitcoin. One can earn “credit score” from completely different international locations or borrow towards their bitcoin to spend for each day requirements (very similar to the fiat forex we get right now). Nations might be not more than property managers, organizing a sharing economic system the place folks can stay in a long-term or short-term place. We might be dwelling in a world the place one can simply journey to fulfill folks, be taught their tradition, and luxuriate in their freedom.
Until then.
This text is featured in Bitcoin Journal’s “The Withdrawal Situation”. Click on right here to subscribe now.
A PDF pamphlet of this text is accessible for obtain.
It is a visitor submit by LJ Huang. Opinions expressed are fully their very own and don’t essentially mirror these of BTC Inc or Bitcoin Journal.
