Bitcoin Integration with the New Social System Technology is Required in Order to Make Money.

This opinion editorial is by Frank Nuessle. He is a publishing entrepreneur and former university professor. Money’s primary purpose is to facilitate the exchange and transfer of value. Money is also our most fundamental, most important social system. Bitcoin is not yet money. Bitcoin fulfills one function of money. It is a trusted technology for the electronic storage of value. When Bitcoin is integrated with new social system technologies, it will no doubt fulfill the primary function of money, which is to facilitate the exchange and storage of value. America has the most to loose if the U.S. dollar ceases to be the world’s reserve currency or if exponential printing renders the dollar worthless. Either way, there will be hell to Pay: America’s economy is failing its citizens. All over the world, anger and disruption are spreading. Mass killings are happening every few days, awakening people to the fact there is a mental illness of hate and nihilism. America’s national political parties don’t meet the current needs. A genuine democracy is impossible due to the enormity of American financial inequality. ABC News reported that in order to pay for an emergency, 40% of Americans couldn’t raise $400 a few years back. ABC News reported that 40% of Americans couldn’t raise $400 to cover an emergency a few years ago. Bankman-Fried lived the same lifestyle as Elon Musk and other tech billionaires but he was too young to realize that Bitcoin and blockchain aren’t about making billionaires. They are about creating real products and services that solve real human needs and move America towards greater societal well-being. Jeff Booth wrote in his book “The Price of Tomorrow” that the trend of increasing wealth inequality, greater polarization and more discord is a serious threat to our collective future. It is all caused by the same thing: adhering to an economic system that was not designed for today’s times. The current economic system favors large corporations, and is a threat to local commerce. This system extracts value out of the local market and delivers it to distant shareholders and corporate management. Like many in the get rich quick crypto community, Bankman-Fried lives from the unquestioned belief that life is a dog-eat, dog struggle, and that getting filthy wealthy is the way to win. Rumours have it that Bankman-Fried was a video gamer at investor meetings. This mindset is a hallmark of corporate capitalism. Let’s face it, many people are affected by this mentality. Douglas Rushkoff wrote in his book “Team Human” that corporations destroy the markets they depend on or sell their most productive divisions to increase their quarterly profits. In America today, making money is more important than creating a sustainable product or service. The corporation takes money from the local economy, out of the labor and land, and gives it to its shareholders. The exchange of value is the foundation of civilization. The primary purpose money serves is to facilitate the exchange between people within a community. A community is a group that relies on each other. The primary purpose of money is to facilitate the exchange of value within a community. Only a money system built on this understanding can help us fulfill our dreams of a Bitcoin sound money economy in the United States. Rushkoff agrees that the Lightning Network alone is not sufficient. He believes that technology cannot solve America’s problems. He says that while Bitcoin and blockchain may disintermediate exploitive financial institution, it does not help rehumanize or restore the trust, cohesion, and ethos for mutual aid that has been undermined by digital capitalism. Because Bitcoin, as a technologically-sound money system, represents a potential transformative evolution of our social reality, its successful implementation requires that we must delicately design its implementation to embed our best and most highly-refined human traits such as honesty, integrity, generosity and forgiveness. We must recall the work of Eric Beinhocker, an evolutionary economist. He proposed that economic evolution is not a single process. Instead, it is a series of interconnected processes. How can we design the social technologies that will allow the Bitcoin sound currency system to spread like a virus. Integrating with the Current Fiat Money System. To answer the above question, Bitcoiners need to fully understand the challenges we face when trying to integrate social technologies into the current fiat money system. First, people resist change because national-controlled money systems have been in place for hundreds of centuries. Second, money is so heavily associated with self-worth that there is a strong reluctance and even less interest to talk about money. Money is not discussed as much as sex. It is helpful to know a little history to understand the human resistance to change. First, it is important to understand the history behind the resistance to change. From the 10th century onwards, currency was issued by local lords. These currencies were then periodically recalled and reissued, with a tax added. This was a form demurrage that made money less valuable as a store-of-value. This led to the flourishing of culture and widespread well-being throughout Europe. This prosperity was exactly proportional to the time when these local currencies were first issued. It is 600 years of psychological enculturation that provide a strong psychological obstacle to the successful implementation of a bitcoin-based alternative money system. This headwind has been experienced by all of us when trying to convince our family and friends about the importance of Bitcoin innovation. A basin of attraction can be any complex system such as a biological ecosystem or ideas about money systems that has multiple local equilibrium states. It is easier to see the two basins of attraction by using a visual. SourcePicture a ball representing the ideas about money or money in general. Think about how it must move to another basin to effect lasting change. You can see how the current money system will resist incremental changes and how it can absorb many shocks to maintain its historical appeal. There is over 600 years of attraction to the state-controlled money system basin. What’s needed is a new attraction basin, a new configuration, with its own gravitational draw. The new attraction is Bitcoin as sound money. To move the ball into a new Bitcoin basin of attraction, it must be exposed and accepted by a tipping point in a market. Changes in American money culture are necessary to move the culture towards the bitcoin basin. This essay will discuss more about this topic. Money as a Measure of Self Worth and Survival Money is the last taboo. It’s not taboo to talk about your last night of sex, but about how much money. It’s a cultural blind spot. To understand why these taboos exist, we need to look at collective psychology best described as archetypes. Archetypes are patterns in emotions and behavior that can easily be observed across cultures and time periods. The American collective consciousness is clearly aware of the suppression of the great mother archetype. Repressing an archetype manifests itself through its specific shadows. In the American collective consciousness, this is clear. For instance, the original Sumerian shekel was closely connected to Inanna, the goddess that governs life, death, and sexuality. Grain was the backbone of the money at the time. Farmers were given shekels to purchase their grain, which they could then exchange for sex with virgins in the temple. This was how they ensured grain storage for the many lean years they had experienced throughout their history. As tax, they gave receipts for wheat delivered at the temples. These receipts could be used to pay for sex at temple priestesses and for other goods on the market. These receipts could be used as currency to pay for sex with temple priestesses or other goods on the marketplace. Juno was an Italic goddess of fertility, menstruation, and birth. People arrange evidence to align with their existing beliefs, their outlooks on the world, and their current cultural story about money. It is a story of scarcity and never being enough. This is a design feature in the current debt-based money system. The money supply must grow to pay the interest. People must fight for what little they have. This design feature is the fiat currency system growth imperative. At some point, the money supply must grow to pay back the interest. The already wealthy will continue to pretend that it is sustainable. “To change beliefs and opinions about money, you need to give people an experience that is not in line with the existing story. Or, you can have an experience that resonates more with the new story. Buckminster Fuller once said that fighting the existing reality will never make anything better. Eisenstein believes that giving people an experience that is not based on scarcity is the best way to change the American story about scarcity. It could be “an act or generosity, forgiveness, attention and unconditional acceptance.” This new story should be an invitation to a new way to see the world, unafraid, connected. It must be an invitation. It must be an offer. Frank Nuessle contributed this guest post. Opinions expressed by the authors are their own and do NOT necessarily reflect those of BTC Inc. or Bitcoin Magazine.

 

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