The Roads To Hyperbitcoinization: Describing The ‘Transition Agents’ Bringing Us Financial Freedom

By Bitcoin Revista - há 2 anos - Tempo de leitura: 22 minutos
Sex, 14 de janeiro de 2022 11:00

The Roads To Hyperbitcoinization: Describing The ‘Transition Agents’ Bringing Us Financial Freedom

These bottom-up “transition agents,” from private business to the freedom ladder, will be what drives us all to hyperbitcoinização.

Este artigo é a segunda parte em uma série where we outline the views and predictions made by the Bitcoin community concerning the prospect of hyperbitcoinization. In our analysis, we highlight "transition agents": main players, groups of players or institutions that could accelerate the transition to a Bitcoin world. For each topic, we base our arguments on the references collected, and if possible, present data that aims to assess the probability of this outcome.

O primeiro artigo described top-down scenarios initiated by institutional agents or governments whose influence is expected to trickle down to a wider audience. We identified monetary inflation and the rollout of central bank digital currencies (CBDCs) as probable scenarios initiated by central banks, while bitcoin hoarding, a rise in cross-border payments in bitcoin, bitcoin as a legal tender and even the advent of a hash war were identified as scenarios likely to induce government acceptance of Bitcoin. In view of the recent pronouncement by El Salvador, it appears that political agendas in South America are in a state of flux, in particular in countries with national elections scheduled for 2021 and 2022.

Este segundo artigo visa compreender as iniciativas do tipo bottom-up realizadas por empresas, comunidades e indivíduos.

Cenários de baixo para cima

We identified several notable hyperbitcoinization scenarios that emanate from two large groups of actors. The first group represents private-sphere-led initiatives brought together by established firms and startups. The second group is composed of grassroots initiatives mostly impulsed by the Bitcoin community whose main purpose is to educate and help new users to be onboarded. The article begins with a discussion of the initiatives driven by these two groups before turning to an examination of emerging individual behaviors. In this article, we have followed the principle of individualismo metodológico, bem conhecido na escola austríaca de economia, que consiste em explicar fenômenos sociais de grande escala com base em ações e motivações individuais subjetivas.

Esfera Privada

Figure one depicts scenarios initiated by private actors that could — intentionally or unintentionally — set off a chain of events driving to hyperbitcoinização.

Adoção Empresarial

Desde o início, Bitcoin has demonstrated that it offers a wide variety of benefits to users. Its value proposition as a safe haven for individuals is without question one of its key enduring narrativas. In August 2020, the world was surprised when MicroStrategy (MSTR), a NASDAQ-listed public technology company, announced that it was converting part of its cash reserves into bitcoin. Figure two depicts publicly-traded companies that reported owning bitcoin on their balance sheets or have converted a fraction of their cash reserves to bitcoin ao longo do tempo.

Até o momento, podemos dividir essa tendência em quatro áreas distintas:

Since the MicroStrategy announcement, many other companies have started to display an interest in Bitcoin, and we can expect to see more of these kinds of initiatives appearing over the coming months once decision-makers have weighed their choices.

If hyperbitcoinization comes to fruition, the revenues, costs, profits and valuations of all companies could be accounted for in bitcoin (Mimesis Capital and Burnett), and most valuable companies would be the ones holding the largest chunks of bitcoin em seu balanço.

Moeda Privada

Quando o Meta (anteriormente Facebook) anunciou em 2019 que lançaria uma nova moeda digital, Diem (originalmente chamado de “Libra”), o movimento pegou governos e instituições financeiras desprevenidos. O valor estável de Diem seria derivado de uma cesta de moedas fiduciárias (dólar americano, euro, iene japonês, libra esterlina e dólar de Cingapura) que permitiria a qualquer usuário do Facebook enviar dinheiro de forma tão fácil e intuitiva quanto enviar uma mensagem.

Embora seja uma ideia atraente em muitos aspectos, surgiram preocupações em alguns setores sobre confiar em uma empresa que se alimenta de dados de usuários. Alguns temiam que Diem encarnasse o pior dos dinheiros e práticas de privacidade de dados. On the other hand, the launch of a private digital currency like diem may serve to familiarize large numbers of users with this emerging technology and thereby act as an on-ramp to broader Bitcoin adoption. As users get acquainted with digital currencies, they will develop an understanding of bitcoin as a scarce, censorship-resistant and decentralized digital money.

Fator 10x

Bitcoin muitas vezes é considerado um melhor forma de dinheiro porque combina melhorias significativas em termos de portabilidade, divisibilidade ou fungibilidade em relação às formas de dinheiro passadas e presentes, além de trazer uma ruptura radical em termos de resistência à censura e fornecimento fixo. Um aspecto que permanece pouco explorado são os custos de transação na economia.

Ao longo dos séculos, as pessoas cooperaram para minimizar os custos de transação e produzir com mais eficiência o que não conseguem produzir individualmente. O teoria da firma por Ronald Coase descreve a relação entre custos internos e externos. 

Quando os custos de transação externos de uma empresa são maiores do que seus custos de transação internos, a empresa crescerá. Se os custos de transação externa forem menores que os custos de transação interna, a empresa reduzirá o tamanho por meio de terceirização, por exemplo.

Applying this theory to the banking sector, we can project that the Bitcoin protocol is likely to capture a significant portion of the banking industry value proposition, and it is not hard to imagine that it could probably capture it entirely once the Bitcoin stack becomes a more tangible reality (see figure three). Over time, we can expect the value created on top of the Bitcoin stack to first capture the value of the financial industry, and then surpass it.

If the transaction costs incurred by Bitcoin users are lower than transactions enabled by conventional payments rails, demand will shift to the cheaper channel. Following Brexit, Visa e Mastercard aumentaram suas taxas de intercâmbio em quase 1%, espremendo ainda mais os resultados dos comerciantes. Isso também ocorreu na Colômbia, onde comerciantes parou de usar cartões de débito e crédito para evitar as taxas excessivas.

Em outros lugares, os comerciantes que desejam reduzir as taxas de troca e furto também podem considerar outras opções de pagamento, como a Lightning Network, como meio de reduzindo custos. Os provedores de serviços de pagamento correm o risco de entrar em uma espiral de morte iniciada por uma base de clientes cada vez menor, pressionando as margens de lucro e, em última análise, tornando seus serviços menos competitivos. No contexto do aumento dos custos de compliance nos setores bancário e de pagamentos, a probabilidade desse cenário não pode ser ignorada.

Transaction costs represent just one of several key aspects in the battle between established companies and Bitcoin-native services. In terms of remittances, in a recent research article, Bitrefill found that comodidade e rapidez eram tão importantes — se não mais — do que o custo para alguns segmentos de clientes. Observando o sofisticado processo de envio de remessas na Nigéria, eles determinaram que todo o processo seria reduzido para 20 a 30 minutos, em relação aos vários dias que normalmente leva para enviar remessas convencionais em dinheiro. Mesmo que 30 minutos pareça uma experiência longa e dolorosa no mundo financeiro de hoje, representa um ganho dez vezes maior em comparação com as remessas em dinheiro.

Even if we could argue that Bitcoin doesn't exhibit yet the same number of transactions as large payment service providers, the payment infrastructure has grown at a rapid pace to the point of surpassing PayPal in terms of volume de transações em 2021 e apresentar uma alternativa viável aos trilhos de pagamento existentes (veja a figura quatro).

This adoption is illustrated by the increasing number of Bitcoin transactions observed in Nigeria. According to Bernard Parah, CEO of Bitnob, the transaction volume observed in Nigeria is driven primarily by businesses and commerce. Domestic controls on capital imposed by the Nigerian government considerably limit the capacities of individuals and companies to trade internationally. Lacking access to U.S. dollars, a mechanical company wanting to buy spare parts from China, for example, would not be able to find a seller because no one would accept the naira as a form of payment. The use of Bitcoin — either directly or through a third party who can pay a prospective seller in yuan — creates a credible alternative means of payment that thereby opens access to the global marketplace for our Nigerian mechanical company.

Esses exemplos de dez fatores destacam o papel dos custos de transação, mas isso não é para minimizar como as startups do ecossistema também precisam prestar atenção à confiabilidade da transação e à experiência geral do usuário, especialmente no que diz respeito aos serviços de autocustódia que se diferenciam dos serviços de custódia e seus processos de integração ditados pela regulamentação e conformidade.

Maior atenção do público

Long seen as the ultimate safe haven in the crypto world, bitcoin is still finding its way as a medium of exchange.

Enquanto, em teoria, baleias e gangsters originais (OGs) have had enough time to accumulate significant portions of bitcoin, the purchasing capacity of newcomers is limited by current price. The accumulation of satoshis is therefore the only option for those wishing to become familiar with this new asset class. Programmed regular purchases such as dollar-cost averaging (DCA) or loyalty programs offering cashbacks in satoshis are two options for earning bitcoin that are gaining in popularity.

The progressive integration of Bitcoin services into social networking and e-commerce platforms — or even games for which frequent microtransactions are familiar experience — could have the potential to onboard a large, digitally-savvy customer base in a short period of time.

Big tech companies already offer services to several hundred million or even billions of people worldwide (figure five). If any of these companies were to start accepting bitcoin as a means of payment, this would immediately trigger interest in the technology from a population that had little to no prior exposure to cryptocurrencies. Twitter’s announcement that it had developed a Lightning Network função de gorjeta que ajudaria as pessoas a enviar dinheiro sem atritos é ilustrativo de como as grandes empresas de mídia social podem alavancar o alcance de suas redes.

E-commerce companies could also play a major role in spreading Bitcoin usar. Como Tim Draper apontou, os consumidores já compram produtos indiretamente com criptomoedas há anos com a compra de vouchers e vales-presente resgatáveis ​​em plataformas de comércio eletrônico representando o maior número de pagamentos (figura seis).

A Rakuten O caso oferece uma analogia da rapidez com que um grande ator de comércio eletrônico pode escalar uma nova tecnologia de pagamento por meio de sua base de usuários. Ao permitir que os clientes paguem com cartão de crédito e capturando gradualmente os pagamentos feitos fora de suas próprias plataformas, ao longo do tempo a Rakuten se tornou um dos maiores emissores de cartões de crédito no Japão.

Mundo financeiro

Ao longo da última década, Bitcoiners have regularly hypothesized how events initiated within the financial industry might accelerate the visibility of Bitcoin, such as the introduction of exchange-traded funds (ETFs) nos Estados Unidos, ou como a criação de regulamentações mais claras pode atrair trilhões de dólares from institutional investors. Even though more sophisticated financial products will likely assist in the wider adoption of Bitcoin and increase prices, actions taken by financial actors have not been particularly associated with the prospect of hyperbitcoinização.

No entanto, o presidente de El Salvador, Nayib Bukele, anúncio emitir um Bitcoin bond, at the end of Bitcoin week in El Salvador, once again caught many observers by surprise. The Bitcoin bond — also called the Volcano bond — is a $1 billion tokenized bond that will be used to finance the construction of the first Bitcoin city and infrastructure in the Central American country. The Bitcoin bond offers várias interrupções em comparação com os mercados tradicionais de títulos:

The long-term reverberations for El Salvador are promising. Not only does this initiative provide for the construction of the geothermal energy infrastructure needed to power an entire new city, but it could also create a surplus of green energy that could be exported to neighboring countries. Most importantly, the Bitcoin strategy designed by the El Salvadoran government could attract the kind of global investment and knowledge workers that would help establish long-term prosperity in the region. By showing the rest of the world its openness to business and capital influx, El Salvador could replicate the success of the Tigres Asiáticos na década de 1960.

A Bitcoin Comunidade

O crescimento do Bitcoin network is based in a strong community committed to the idea of a P2P electronic cash system. Orphaned since the disappearance of its creator Satoshi Nakamoto, the Bitcoin ecosystem continues to play a major role in spreading his ideas. By supporting technological developments and their diffusion, the Bitcoin community undergirds the process of technological familiarization within the public and private spheres addressed in this series of articles.

Esta heterogênea comunidade internacional de entusiastas apelidada de “vespas cibernéticas” encompasses miners, node holders, investors, speculators, analysts, entrepreneurs, journalists, influencers, OSS contributors and developers who devote considerable time and energy to educate new users and contribute, defend and support Bitcoin.

The actors described in the following section are representative of this community of cyber hornets, and contribute to the global dissemination of Bitcoin Tecnologias.

Influenciadores

Influencers represent a group of thinkers, investors and entrepreneurs who have significant media coverage and habitually voice their opinions on Bitcoin. Bitcoin detractors regularly criticize the technology on both social and traditional media to desacreditar influencers. Others, like Michael Saylor and Jack Dorsey, who understood the impact Bitcoin will have on their companies, frequently praise its invention and are joined in their praise by global líderes de negócios. It may be difficult to quantify the long-term effects that influencers have on uptake of Bitcoin technologies, but debates around these new technologies help normalize them in the eyes and ears of the wider public.

No curto prazo, no entanto, esse tipo de promoção também pode impactar negativamente as percepções do público, como vimos após as mensagens inconsistentes de Elon Musk nas redes sociais. Seguindo uma série de os tweets onde o empreendedor de tecnologia visou os padrões de consumo de energia da prova de trabalho, o preço do ativo experimentado fortes variações (figura cinco).

Fãs de tecnologia NGU

“Number go up” or “NGU,” is by far one of the most influential explanatory factors in Bitcoin adoption. In this scenario, newcomers drive the price of bitcoin up, while the increasing asset price attracts a new wave of investors, HODLers e os curiosos. Conforme mostrado na figura seis, os aumentos contínuos de preços desde o início produzem “medo de perder” (FOMO), ou seja, um medo de não ser incluído em algo que os outros estão experimentando.

A “tecnologia NGU” atua como uma mensagem de marketing eficiente, clara e auto-sustentável. Na figura seis, a evolução do número de downloads de aplicativos de carteira de criptomoedas coincide com os mercados em alta de 2018 e 2020 e não há razão para acreditar que essa relação mudará no futuro.

Most hyperbitcoinization scenarios are based on the mass adoption of Bitcoin by several types of players — individuals, businesses, cities and eventually countries — in a sequential way, with this mass adoption ultimately driving up the price of bitcoin.

A narrativa da tecnologia NGU é suportada por vários modelos de preços baseados quer em produção fixa, no caso de “S2F"E"Ciclos de alongamento e retornos decrescentes”, ou com base no consumo de energia, no caso de “Bitcoin Valor energético.'' Alternativamente, intervenientes como a Mimesis Capital propõem uma abordagem que consiste em avaliar o preço dos activos em relação à possível quota de mercado total que poderia ser capturada, como mostrado nos exemplos de dinheiro e riqueza global do M2 (figura sete).

Todos esses modelos podem afetar a percepção do público, sugerindo um aumento futuro de preços e reforçando a mensagem da tecnologia NGU.

Educadores anônimos

Since the early years of Bitcoin, individuals initiating friends and family into the cryptocurrency world have been a key part of Bitcoin culture. Word of mouth led people to discover this open, decentralized, borderless and censorship-resistant currency. Over time, personal accounts have continued to grow as more structured initiatives have appeared alongside to evangelize those with inquiring minds.

A Bitcoin Beach community in El Salvador is one of the more prominent examples of this process. Although the community remained under the radar for some time, it was instrumental in El Salvador’s decision to adopt bitcoin as legal tender, thereby positioning the country at the forefront of financial innovation.

Inspirado por Bitcoin Beach, other initiatives have tried to replicate its enthusiasm in other communities. In Senegal, Bitcoin Developers Academy is aiming to train university students in the development of Bitcoin and Lightning Network applications by adapting the content and values of other Bitcoiners.

The notion of adaptation is crucial. The Bitcoin narrative is shaped by individuals imbued with predominantly Western values and for whom notions of individual freedom, privacy and self-sovereignty resonate. In many societies, o dinheiro é visto como um mecanismo de fortalecimento das relações sociais dentro do grupo. In order to onboard new segments of the populations of Africa or Latin America, it is vital that the Bitcoin narrative be adapted to resonate with locals. Narratives centered around Bitcoin as a tool of individual freedom or means of privacy protection have done little to inspire imaginations in Eastern Africa. Instead, newcomers have grafted an alternative set of values onto Bitcoin that connect with the sense of community belonging encapsulated by the concept of Ubuntu, que muitas vezes é traduzido como “Eu sou porque nós somos”.

If new users embrace the technology, their expectations will differ from those held by earlier adopters, and in response, the Bitcoin narrative, functionality and services will necessarily evolve. By introducing custódia compartilhada multisig na sua Bitcoin beach wallet, Galoy gives another example of a necessary adjustment of the narrative in Central America, descrevendo-o como:

“...uma solução multiassinatura onde as chaves dos fundos armazenados em câmaras frigoríficas são mantidas por membros estabelecidos da comunidade local. Este modelo reduz a dependência de empresas centralizadas fora da comunidade, ao mesmo tempo que reduz o atrito da integração de membros na rede.”

Adaptation of functions and educational content conveyed by Bitcoin in response to uptake in new cultural contexts will be a source of significant innovation and enrichment for the community as a whole.

Perspectivas

Bitcoin As A Feedback Loop

Aprendendo sobre Bitcoin is often a personal, intrinsically-motivated journey that encourages inquiry into a range of assuntos as varied as the monetary system, technology, economy and philosophy. In this sense, Bitcoin plays the role of a virtual tutor who cultivates a thirst for knowledge in its followers. Once convinced of the superiority of Bitcoin over alternative currencies, individuals develop behaviors that reflect the nature of this invention.

“You don’t change Bitcoin, mas Bitcoin changes you.”

-Max Keizer

The limited supply of Bitcoin has encouraged hoarding behaviors from several types of actors. Prior to 2016, bitcoin traded below $1,000 and therefore acquiring multiple coins was considered an attainable goal for many people in the developed world.

Fast forward to 2021, when the price of bitcoin has appreciated considerably, such that it has become onerous for newcomers to acquire an entire bitcoin. The result is that newcomers are incentivized to buy smaller fractions of bitcoin. The accumulation of satoshis or “stacking sats” is the most concrete example of this practice that has pushed an entire generation of newcomers to acquire bitcoin in a programmatic and methodical way, as demonstrated by the success of companies proposing DCA services or cashback rewards.

One of the consequences of newcomers’ propensity to maximize the share of bitcoin in their asset portfolios — and hence, savings — is that if enough newcomers share this strategy, their cumulative efforts could propel the price of bitcoin significantly higher and eventually kick-off hyperbitcoinização.

For each new daily expense, Bitcoiners are faced with a choice of whether or not to spend. By spending, they deprive themselves of the possibility of buying more Bitcoins, while if they refrain from spending the money saved can be converted into satoshis. This behavior clearly indicates a preference for future reward over immediate superficial spending. In this way, Bitcoin has transformed people from consumers into savers and can be seen as a reference of value anchored in the mind of consumers in a way that supports prudence.

By privileging the essential over the superficial, the durable over the fragile, and the fruitful over the futile, Bitcoin stands poised to help our society respond to the economic, environmental and social crises we are facing. For the first time, the introduction of a currency whose existence is linked directly to a conversion of energy will allow us to systematically integrate energy not only into our currency, but into our economic model.

This sends a strong signal given that Bitcoin is a social movement under expansion. By being the first to incorporate energy into the economic system, Bitcoin could act as a feedback loop that puts an end to the superficial consumerist models permitted and sustained by fiat monetary systems.

Tiro para a prosperidade

Grande escala Bitcoin adoption may seem like a remote possibility for some, but it has nevertheless become a full-fledged financial tool for an eclectic crowd. The West tends to view the countries from the Sul global as lagging in terms of the latest technological innovations, but following a series of interviews, the authors of this article have come to believe that where Bitcoin is concerned, the level of technological sophistication surpasses that found in many developed countries.

 In the table above, case one depicts how Bitcoin adoption by low-income families resolves challenges that may be difficult for Western readers to understand. Yusuf Nessary, co-founder of the Construído com Bitcoin Foundation, lembra que essas famílias — às vezes isoladas dos grandes centros urbanos — precisam percorrer longas distâncias para receber as remessas em dinheiro enviadas por familiares. Viajar para a cidade mais próxima não só incorre em despesas significativas, mas também significa renunciar ao salário de um dia para as famílias que vivem no dia a dia. A introdução do pagamento digital diretamente em um telefone celular pode melhorar drasticamente a vida dos usuários, eliminando os custos de deslocamento até o banco ou caixa eletrônico mais próximo.

Cases two and three depict scenarios where individuals and businesses have embraced Bitcoin as a payment method in order to sell their products or services more smoothly and connect to the global economy (#paymeinbitcoin). In an interview with these authors, Bitcoin developer Fodé Diop anticipated that if the digital workforce in Senegal starts selling their services to foreign companies, capital injected into the country will reap benefits not only at the individual level, but also country-wide.

This analysis was shared by Nigerian Bitnob CEO Bernard Parah, who considers that bringing a viable payment solution in Nigeria would solve 50% of the problem and could ultimately help flatten the world, as he said in his own interview with these authors. Diop likewise prevê que Bitcoin could disrupt or even put an end to the brain drain that has impacted emerging economies.

Em contraste com o envelhecimento da sociedade europeia, as populações dos países africanos são em grande parte compostas por jovens com menos de 25 anos e apresentam um crescimento demográfico dinâmico (figura oito). Se esses jovens continuarem enfrentando altas taxas de desemprego e perspectivas de futuro ruins, a situação social e econômica pode se tornar explosiva – especialmente nos países com as maiores proporções de jovens.

Os casos esboçados acima sublinham o potencial do dinheiro minimizado pela confiança para se tornar um facilitador de negócios tanto nacional quanto internacionalmente, e para ajudar escala da sociedade humana como é universalmente interoperável, não pode ser desvalorizado ou confiscado e pode contornar as restrições do sistema bancário legado baseado em confiança.

A escada da liberdade

Bitcoin can be seen as a polymorphic tool that adapts to the needs of each new user. Bitcoin as a privacy tool or means of self-sovereignty has been its predominant narrative, however self-sovereign identity (SSI) is a concept of the global “rich” that stands outside the reach of the 800 million people who do not have acesso a eletricidade, telefones ou ligação à Internet (figura nove).

“O que funcionou no mundo ocidental não vai ficar na África! Precisamos reinventar as narrativas ou mostrar narrativas diferentes.” 

–Fodé Diop

It should also be noted that the introduction of Bitcoin alone is not enough to lift the global population out of extreme poverty. Donations and development programs need to be coordinated with local agents of change, like those being carried out by the Built With Bitcoin Fundação.

Com base no conceito de “escada da soberania” e posteriormente elaborado por Anita Posch, below we depict the relationship between the potential threats and living conditions faced by individuals, groups of people and society, with the freedom that stands to be ushered in by Bitcoin. We generalized this concept beyond individual sovereignty because, as mentioned above, this concept still remains abstract to a large part of the population.

This “freedom ladder” illustrates how Bitcoin is poised to bring about a range of solutions that will make it possible to overcome numerous threats on an incremental basis. Although the level of threat faced by an individual living under the oppression of an authoritarian regime or for a group of migrants fleeing an economy ruined by inflation differs, Bitcoin provides solutions for a variety of situations.

The bottom of the ladder includes infrastructural requirements, as these basic needs should be addressed prior to considering access to Bitcoin.

Existem situações extremas que podem forçar alguns populações pular direto para os degraus mais altos da escada da liberdade para se proteger de ameaças repentinas e violentas. No entanto, para que um usuário ou um grupo de pessoas entenda o que envolve autocustódia ou transação anônima, muitas vezes é necessário ter experimentado ameaças externas por um longo período de tempo, às vezes de forma incremental, como um sistema imunológico preparado que pode resistir melhor estar exposto a ataques externos.

Conclusão

Bitcoin is a unique invention in many ways. Unlike the other great inventions of the modern era such as electricity, the computer or the internet, whose early adoption was initiated by either private companies or public institutions, Bitcoin has always targeted individuals: the marginalized and misfits of the system.

Bitcoin adoption is quiet and goes almost unnoticed by the mainstream agents of influence. Designed to scale by minimizing trust and eliminating dependency on third parties, it is difficult to obtain reliable aggregate data on the extent of Bitcoin adoption by a given country or a segment of the population. The permanent evolution of the protocol — of which Taproot é o exemplo mais recente — reforça essa meta de privacidade e escalabilidade e continuará a fazer tentativas de análise quantitativa desafiadoras.

Many questions remain unanswered about hyperbitcoinization and its micro- and macroeconomic consequences. This article attempted to identify emerging scenarios that may lead to hyperbitcoinization. However, it remains difficult to predict how these different scenarios will relate to one another, and at what speed they or any other possible scenarios may occur.

Many challenges remain to be solved before we see a broader adoption and, as Ray Youssef, CEO of Paxful, stated in an interview with these authors, it is crucial to relentlessly educate users, improve their experience and above all adapt the narrative to make Bitcoin mais inclusiva.

This article sought to identify and categorize initiatives that could lead to hyperbitcoinization, thereby transmuting expectations into reality. Although the mere prospect of hyperbitcoinization has raised immense hopes for many people, at this time we are still far from realizing the transformative power of Bitcoin Em nossas vidas.

“Tendemos a superestimar o efeito de uma tecnologia no curto prazo e subestimar o efeito no longo prazo.” 

-lei de Amara

In view of the dynamism of communities developing islands of resilience across the world, it is not hard to imagine how the voluntary actors of hyperbitcoinization will likely arise from grassroots initiatives, while governments and central banks — through their binding interventions — will unwittingly become its involuntary actors. This hypothesis resonates with the original vision of Bitcoin that it still carries to this day: a P2P electronic cash system.

Gostaríamos de expressar nossa gratidão a Anita Posch, apresentadora do podcast “Anita Posch Show”; Yusuf Nessary, co-founder and director of the Built With Bitcoin Fundação Ray Youssef, CEO da Paxful; Fodé Diop, fundador em Bitcoin Developers Academy; Bernardo Pará, CEO da Bitnob; Gael Sanchez Smith, autor de "Bitcoin Lo Cambia Todo”; and galoiaà equipe de s por compartilhar conosco insights inestimáveis ​​durante nossas entrevistas; e a Jennifer McCain por revisar a legibilidade geral.

Referências

Este é um post convidado da Fulgur Ventures. As opiniões expressas são inteiramente próprias e não refletem necessariamente as da BTC, Inc. ou Bitcoin Magazine.

Fonte original: Bitcoin Magazine